Wyoming Administrative Code › Agency 085 - Business Council › Sub-Agency 0019 - Agricultural Processing Revenue Bond Program › Chapter 1 - AGRICULTURAL PROCESSING REVENUE BOND › Section 1-5 - Default Application Information

Current through July 13, 2024
(a) All
				applications for bond issuances shall be submitted on the required forms.
				Applications will be accepted at any time and scheduled for staff review and
				recommendation by the Board of Directors, and final approval by the State Loan
				and Investment Board on a first-come, first-served basis;
(b) One (1) copy of the application shall be
				submitted electronically via email or physically to the Council offices located
				at
:
Wyoming Business Council
214 West 15th Street
Cheyenne, WY 82002
(c) Every application for the proposed
				project shall include, unless waived by the Council:
(i) The name, title and address of the person
				to whom notices should be sent and from whom information can be
				obtained;
(ii) Five (5) years of
				financial statements (of the existing business and parent company, if
				applicable, receiving the bond issuance), plus current financial
				statements;
(iii) Pro-forma
				financial projections (income statement, balance sheet, and statement of cash
				flows) of the existing or proposed business, and parent company, if applicable,
				receiving the bond issuance for three (3) years;
(iv) A certificate of incorporation of the
				existing or proposed business receiving the bond issuance;
(v) A certificate of good standing from the
				Wyoming Secretary of State's office;
(vi) By-laws of the borrower and parent
				company, if applicable, or a copy of the Borrower's operating agreement
				demonstrating borrowing authority of the existing or proposed
				business;
(vii) The business plan
				of the existing or proposed business;
(viii) An itemized list of the proposed
				collateral and collateral value;
(ix) A detailed proposal explaining how the
				bond proceeds will be utilized;
(x)
				Certification that the business will allow an examination of its books and
				records at the request of the Council;
(xi) Certification that the business will
				report jobs, wages, and capital expenses at the request of the
				Council;
(xii) An identification of
				the issuing authority;
(xiii) The
				date of adoption of the initial intent to apply for bond allocation;
(xiv) The name and address of bond counsel
				and a letter from bond counsel confirming that it has been retained by the
				applicant for purposes of advising applicant with respect to the proposed
				project and any bond issuance;
(xv)
				The amount of the general allocation pool the applicant is
				requesting;
(xvi) A statement
				summarizing the benefit of the project to the state or local community, the
				impact of the project on other businesses in the state or local community and
				the ability of the project to meet the objectives set forth in
				W.S.
				15-1-701(b);
(xvii) A proposed starting date and estimated
				completion date of construction of the project;
(xviii) Information relating to the
				feasibility of the proposed project, showing that the project will generate
				revenues and cash flow sufficient to make payments to pay debt service on the
				bonds;
(xix) The amount, source,
				type and terms and conditions of all capital that will be used for the project
				in addition to bond financing;
(xx)
				Actions that have been taken in anticipation of the bond issue and the
				anticipated date of bond issuance;
(xxi) An explanation of the impact on the
				project if the total allocation is not received; and
(xxii) A statement of any significant risks
				to the project or the project's financing and any mitigating factors to those
				risks.