§ 5-1.2-15-10 — Loans or other financial assistance; necessary documents

A loan or other financial assistance from the
fund must be accompanied by the following:
(1) All papers and opinions required by the authority.
(2) Unless otherwise provided by the guidelines of the authority,
the following:
(A) An approving opinion of nationally recognized bond
counsel.
(B) A certification and guarantee of signatures.
(C) A certification that, as of the date of the loan or other
financial assistance:
(i) no litigation is pending challenging the validity of or entry
into the loan or other financial assistance or any security for
the loan or other financial assistance; or
(ii) if litigation is pending, the litigation will not have a
material adverse effect on the validity of the loan or other
financial assistance or any security for the loan or other
financial assistance.
(D) If litigation is pending, as an alternative to the certification
described in clause (C), an opinion of legal counsel that the
litigation will not have a material adverse effect on the validity
of the loan or other financial assistance.

Legislative History

As added by P.L.189-2018, SEC.25.