HARRY HUGHES, Governor                                       705

Subsection (d) of this section is revised to
extend the requirements of this subsection to
corporate and other applicants and not only to
individuals who apply for a guarantee.

13-232. APPLICATIONS FOR FINANCIAL ASSISTANCE.

(A)       IN GENERAL.

TO APPLY FOR FINANCIAL ASSISTANCE, AN APPLICANT SHALL
SUBMIT TO THE AUTHORITY AN APPLICATION ON THE FORM THAT THE
AUTHORITY REQUIRES.

(B)       CONTENTS OF APPLICATION.

THE APPLICATION SHALL INCLUDE:

{1) A DETAILED DESCRIPTION OF THE GOVERNMENT
PROJECT;

(2)   AN ITEMIZATION OF KNOWN AND ESTIMATED COSTS;

(3)   THE TOTAL AMOUNT OF INVESTMENT REQUIRED TO
PERFORM THE GOVERNMENT CONTRACT;

(4)   THE FUNDS AVAILABLE TO THE APPLICANT WITHOUT
FINANCIAL ASSISTANCE FROM THE AUTHORITY;

(5)   THE AMOUNT OF FINANCIAL ASSISTANCE SOUGHT
FROM THE AUTHORITY;

(6)   INFORMATION THAT RELATES TO THE INABILITY OF
THE APPLICANT TO OBTAIN ADEQUATE FINANCING ON REASONABLE
TERMS THROUGH NORMAL LENDING CHANNELS;

(7)   INFORMATION THAT RELATES TO THE FINANCIAL
STATUS OF THE APPLICANT, INCLUDING:

(I)   A CURRENT AUDITED BALANCE SHEET;

(II)   A PROFIT AND LOSS STATEMENT; AND

(III)   CREDIT REFERENCES; AND

(8)   ANY OTHER RELEVANT INFORMATION THAT THE
AUTHORITY REQUESTS.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 41, §
266HH-7(a), (c), and (d).

Present Art. 41, § 266HH-7(b), which requires the
applicant to submit a letter of intent, is
deleted as unnecessary, in light of the
information required to be included in the
application.