Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 202 - REVENUE OBLIGATION SECURITIES PROGRAM › Section 457-202-2 - Application

Current through 2024-29, July 17, 2024
In order to provide the Authority with a basis to make the
				  determinations required by the Act and these regulations, an applicant shall
				  make an application, in one or more parts, which will include the
				  following:
A.
				[
Repealed
]
B.
				[
Repealed
]
C.
				[
Repealed
]
D. An
				application fee calculated pursuant to section 8. The application fee is
				non-refundable.
E. A statement of
				the municipality in which the project is to be located that adequate provision
				is being made to meet any increased demand upon public facilities that might
				result from the project or that there is no increased demand.
F. A commitment from one or more purchasers
				or a letter of intent from one or more underwriters of the total amount of
				securities to be issued (required prior to scheduling a public hearing except
				for applications under Chapter 105 of the Authority's rules).
G. For securities exceeding $1,000,000, and
				other instances where the Authority deems appropriate, the Authority shall be
				provided with a written assessment from the Maine Department of Environmental
				Protection of the environmental conditions known by the Department to exist.
				The Authority will not issue a certificate of approval for any project until
				that department's assessment has been received and considered by the
				Authority.
H. A description of the
				proposed project.
I. A statement by
				the applicant explaining how the project will make a contribution to the
				economic growth of, the control of pollution in or the betterment of the
				health, welfare or safety of the inhabitants of the State. The statement should
				include information on payroll and the number of new or retained
				jobs.
J. A statement by the
				applicant explaining why the project will not result in a substantial detriment
				to existing business in the State. To the extent known to the applicant, the
				statement should describe the market to be served as a result of the proposed
				project and should set forth the names and addresses of any other businesses in
				the State known by the borrower to serve such market. If there are any such
				businesses known to the applicant, then to the extent known to the applicant,
				the statement should also describe the demand in such market, the capacity of
				such businesses serving such market, the efficiency of such businesses and why
				any arguably adverse economic effect of the project on such businesses is
				outweighed by the contribution which the project will make to the economic
				growth of, the control of pollution in or the betterment of the health, welfare
				or safety of the inhabitants of the State.
K. A breakdown of the purposes and amounts
				for which the proceeds of the issue will be expended.
L. A statement that the applicant will, to
				the extent possible, cooperate with representatives of the Department of Labor
				and the Department of Health and Human Services regarding opportunities for
				employment for recipients of services provided by those Departments.
M. With respect to Recovery Zone Facility
				Bonds, a statement by the applicant describing why the project will be
				beneficial to the county or counties in which it is located.
N. Such other information as the Authority
				may reasonably require, including such information as may be required for
				purposes of Chapter 203 - Allocation of State Ceiling on Private Activity
				Bonds, or for the purposes of 10 MRSA §§1074-A and 1074-B.
O. For credit enhanced projects, such
				financial and other information as the authority shall reasonably require
				regarding the financial condition or other aspects of the Borrower, Guarantors,
				and the Project, including but not limited to any information required by any
				other Rule of the Authority that may be applicable.