|
I. The project will, to the extent possible, cooperate with | representatives of the Department of Labor and the Department | of Human Services regarding employment opportunities for | recipients of the services of those departments; and |
|
| | Sec. 6. 10 MRSA §1043, sub-§2, ¶J, as enacted by PL 1995, c. 4, §7, is | amended to read: |
|
| J. In the case of major business expansion projects, the | applicant is creditworthy and there is a strong likelihood | that the revenue obligation securities will be repaid | through the revenues of the project and any other sources of | revenues and collateral pledged to the repayment of those | securities. In order to make this determination, the | authority shall consider such factors as it considers | necessary to measure and evaluate the sufficiency of the | pledged revenues to repay the obligations, including: |
|
| (1) Whether individuals or entities obligated to repay | the obligations have demonstrated sufficient revenues | from the project or from other sources to repay the | obligations, and a strong probability that those | revenues will continue to be available for the term of | the revenue obligation securities; |
|
| (2) Whether the applicant demonstrates a strong | probability that the project will continue to operate | and provide the public benefits projected to be created | for the term of the revenue obligation securities; |
|
| (3) Whether the applicant demonstrates that the | benefits projected to be created by the project are | enhanced through the use of financing assistance from | the authority; |
|
| (4) Whether the applicant's creditworthiness is | demonstrated by such factors as historical financial | performance, management ability, its plan for marketing | its product or service and its ability to access | conventional financing; |
|
| (5) Whether the applicant meets or exceeds industry | average financial performance ratios commonly accepted | in determining creditworthiness in that industry; |
|
| (6) Whether the applicant demonstrates that the need for | authority assistance is due to the reduced cost and increased | flexibility of the financing for the project that result from | authority assistance and not from an inability to obtain | necessary financing without the |
|
|