Section R20-8-202. Application Process

A.      The Board shall annually establish due dates by which applications for financial assistance shall be submitted.

B.       The Authority shall notify in writing by electronic or other means potential applicants of the due date for applications and of any limitation of the amount of funding available at least 60 days before applications are due. Other interested persons may submit requests to the Authority to be placed on a notification list to be utilized by the Authority.

C.      An applicant shall provide to the Authority by the established due date for applications on a form provided by the Authority the following information:

1.        Contact information for the applicant, including name, address, and telephone number;

2.        Financial statements, audits, or comprehensive annual financial statements relating to the applicant for the applicant’s current fiscal year;

3.        Financial statements, audits, or comprehensive annual financial statements relating to the applicant for the previous five fiscal years;

4.        The proposed or estimated financial statement or budget, and business plan or management plan for the current and next fiscal years;

5.        A fee schedule for the applicable enterprise funds for the current and past five fiscal years if not included in response to subsections (C)(2), (3), and (4);

6.        The source of pledged revenues or dedicated revenue source to be used to repay the requested financial assistance;

7.        The amount of pledged revenues or money collected through the dedicated revenue source for each of the previous five fiscal years;

8.        An estimate of the amount of pledged revenues or money that will be collected through the dedicated revenue source for the current fiscal year;

9.        A projection of the amount of pledged revenues or money that will be collected through the dedicated revenue source for each of the next five fiscal years;

10.     A list of professional and outside service providers, including their professional qualifications, that are working or have worked on the project;

11.     An estimate of the project costs, including applicable planning, design, and construction costs, as well as estimated annual operation, maintenance, and replacement costs;

12.     An estimated schedule of required disbursements of the financial assistance; and

13.     Any information that may have a negative effect on the applicant’s application, or on its financial condition, including material information relating to other projects undertaken by the applicant, pending lawsuits, and current investigations by state or federal authorities.

D.      In addition to the application and documentation required in subsection (C), an applicant shall provide to the Authority by the established due date for applications the following information:

1.        Copies of documentation relating to outstanding indebtedness, including official statements, financial assistance agreements, and amortization schedules;

2.        A detailed description of the project, with an explanation of how the project complements the overall development of the community, including the following, if available and applicable:

a.        Copies of project feasibility studies, engineering reports, project designs, rate studies, and related material;

b.        A detailed timeline for the project; and

c.        A planning document specific to the locality of the project for which the financial assistance is being requested that includes the project, such as a capital improvement plan, local strategic plan, or similar planning document;

3.        A resolution of the governing body of the applicant stating the following:

a.        The project is in the best interests of its residents;

b.        The commitment of local funds, if applicable; and

c.        If a political subdivision, then confirmation of the pledge of the state-shared revenues;

4.        For a political subdivision, a written commitment by its governing body to complete all applicable reviews and approvals and to secure all required permits in a timely manner;

5.        To the extent required under A.R.S. § 41-2257, for a political subdivision, evidence of voter approval to incur debt in connection with the project:

a.        If the election for voter authorization has been held, a copy of the ballot evidencing voter authorization for the debt in connection with the project and official action canvassing the results of the election;

b.        If the election for voter authorization is scheduled to be held after the application date, sample ballot language and evidence of a plan to obtain voter authorization for the debt to be incurred in connection with the project;

6.        For a political subdivision, if voter approval has been obtained for substantially the same project but with a different funding source, evidence of that approval in lieu of that required by subsection (D)(5); and

7.        For an Indian tribe, evidence of the current or proposed establishment of a dedicated revenue source under the control of a tribally chartered corporation or other tribal entity subject to suit by the Attorney General, or evidence that additional funds or revenue streams that are subject to execution by the Attorney General without the waiver of any claim of sovereign immunity by the Tribe have been designated as additional security.

E.       Staff shall analyze each application received on or prior to the due date for applications for financial assistance to determine whether the application is administratively complete and whether an applicant meets the eligibility criteria prescribed in R20-8-203. Applications for financial assistance that are determined to be both administratively complete and eligible for financial assistance under R20-8-203 shall be submitted to the Board for prioritization and possible funding. Applications that are either not administratively complete or do not meet the criteria in R20-8-203 shall not be submitted to the Board.

Historical Note

Adopted effective February 3, 1998 (Supp. 98-1).

Amended by final rulemaking at 7 A.A.R. 2042, effective April 10, 2001 (Supp. 01-2). Amended by final

rulemaking at 16 A.A.R. 190, effective March 6, 2010 (Supp. 10-1). Pursuant to authority of A.R.S. § 41- 1011(C), Laws 2011, Second Special Session, Ch. 1, authorizes the transfer of A.R.S. citations. Therefore the

A.R.S. citation in subsection (D)(5) was updated. Agency request filed February 12, 2013, Office File No. R13-179

(Supp. 13-1).