This text of Alabama § 41-10-48.06 (Selection of Eligible Projects; Limitations on Loans) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
(a)In considering applications for eligible projects, the authority may request additional input from external experts as to the urgency of the energy infrastructure project, the ability of the applicant to execute the project within the stated time frame, and other assistance as determined by the authority.
(b)The total aggregate amount of loans or other financial assistance provided by the bank in any year shall be limited to an amount that would not jeopardize the viability of the fund, as determined by the authority with the advice of external experts.
(c)In selecting eligible projects, the authority shall consider, with assistance from external experts, project feasibility and the degree of financial risk to be assumed by the authority.
(d)The authority shall ensure that no electr
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(a) In considering applications for eligible projects, the authority may request additional input from external experts as to the urgency of the energy infrastructure project, the ability of the applicant to execute the project within the stated time frame, and other assistance as determined by the authority.
(b) The total aggregate amount of loans or other financial assistance provided by the bank in any year shall be limited to an amount that would not jeopardize the viability of the fund, as determined by the authority with the advice of external experts.
(c) In selecting eligible projects, the authority shall consider, with assistance from external experts, project feasibility and the degree of financial risk to be assumed by the authority.
(d) The authority shall ensure that no electric provider receives more than 40 percent of the loan or financial assistance funds provided by the bank in each calendar year unless a joint application of electric provider is made; provided, however, in no event (even with a joint application) shall more than 50 percent of the loan or financial assistance funds provided by the bank in each calendar year be received by any single electric provider.
(e) The authority shall reserve at least 40 percent of the aggregate amount available in each calendar year for loans and other financial assistance from the energy bank for use for energy infrastructure projects in rural areas. In the event that applications are not received for energy infrastructure projects in the rural areas by the close of the second quarter of the applicable calendar year, the reservation shall no longer apply and the funds may be used for other energy infrastructure projects; provided, however, that, in failing to apply for an energy infrastructure project by the end of the second calendar quarter of a calendar year, an electric provider is not prohibited from subsequently applying and receiving an allocation of funds for energy infrastructure projects in rural areas later in that calendar year.
(f) Any nonpublic or proprietary information included in an application by an economic development prospect or electric provider shall be subject to the Department of Commerce’s protections for such information, provided in Section 41-29-3.