Code of Maine Rules
05 - DEPARTMENT OF EDUCATION
071 - EDUCATION - GENERAL
Chapter 64 - Maine School Facilities Program and School Revolving Renovation Fund (a joint chapter with the Maine Municipal Bond Bank, 94-376)
Section 071-64-5 - MAINE SCHOOL FACILITIES FINANCE PROGRAM
Universal Citation: 05 ME Code Rules ยง 071-64-5
Current through 2024-13, March 27, 2024
A. The Bank shall be responsible for the following:
1) The loan application to eligible school
administrative units;
2) The loan
agreement with eligible school administrative units;
3) The management of all loans from the
Revolving Renovation Fund;
4) That
the applicant certifies to the Bank that it has secured all permits, licenses
and approvals necessary to undertake the renovations and construct the
improvements to be financed by the loan; and
5) That the applicant demonstrates to the
satisfaction of the Bank that it has the ability to repay the loan made to the
school administrative unit by the Bank.
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