17-5-1521. Adoption of rules. (1) The board shall adopt rules to establish:
(a) procedures for soliciting and evaluating applications and for notifying the local government of the application for purposes of complying with 17-5-1526 and 17-5-1527; and
(b) a system for evaluating applications, considering the following criteria:
(i) the applicant's net worth;
(ii) the applicant's training and experience in the industry involved in the proposed project;
(iii) the applicant's prospects for succeeding in the proposed project;
(iv) the degree to which the new or increased business resulting from the loan will meet the objectives of 17-5-1502; and
(v) any other factors the board may prescribe.
(2) The board shall adopt rules for the:
(a) organization, approval, standards, and regulation of project applicants;
(b) approval, standards, and regulation of financial institutions under this part;
(c) assessment, collection, and payment of all fees and charges in connection with making, purchasing, and servicing of its bonds and notes, mortgage lending, construction lending, temporary lending, and guaranty programs; and
(d) such other matters as the board considers necessary or desirable.
History: En. Sec. 19, Ch. 686, and Sec. 21, Ch. 701, L. 1983.
Structure Montana Code Annotated
Part 15. Economic Development Bonds
17-5-1502. Legislative declaration
17-5-1504. Powers of the board
17-5-1505. Financing programs of the board
17-5-1506. Bonds and notes for projects and major projects
17-5-1507. Bond anticipation notes -- issuance -- payment of principal and interest
17-5-1508. Provisions of bond resolutions
17-5-1510. Purchase of notes and bonds -- cancellation
17-5-1512. Negotiability of bonds
17-5-1513. Signatures of board members
17-5-1515. Reserve funds and appropriations
17-5-1516. Maintenance of capital reserve account
17-5-1517. Refunding obligations
17-5-1518. Tax exemption of bonds
17-5-1522. Pledge of the state
17-5-1523. Credit of state not pledged
17-5-1524. Taxation of projects
17-5-1525. Bonds as legal investment
17-5-1526. Procedure prior to financing projects