Mississippi Administrative Code
Title 6 - Economic Development
Part 4 - Community Services
Chapter 3 - Amended Local Governments Capital Improvements Revolving Loan Program (CAP)
Rule 6-4-3.6 - Application Requirements

A. A certified copy of the Resolution of Intent from the Applicant must be submitted. (All Applicants must use the Public Notice Form provided by MDA.)

B. In order for MDA to consider eligibility for a CAP loan, the Financial Analysis Worksheet must be completed, signed and the original signed copy submitted in advance or along with the application.

C. A letter on official letterhead from the Applicant's certified public accountant, auditor or fiscal officer verifying that the Applicant's financials reflect the ability to repay the CAP loan. This verification must include the source of repayment (i.e., surcharge or other verifiable means of repayment).

D. Certified Proof of Publication of the required Public Notice of the Applicant to enter into a Loan Agreement with MDA for CAP funds. The Resolution must be published once a week for at least four (4) consecutive weeks in a newspaper having general circulation in the county. The public hearing should take place after the date of the final publication. The Resolution must have been published within the last 6 months prior to submittal of the loan application.

E. Once the publication process is complete, a certified copy of the minutes of the Applicant showing their decision to proceed with the loan.

F. If applicable, written verification that the Applicant has consulted with the Public Service Commission regarding water and wastewater projects.

G. Fire Protection loans must be made to enhance structural firefighting capabilities. Loans for fire trucks must provide proof that the National Fire Protection Association standards are/will be met.

H. If applicable, official certification of preliminary project plans and specifications from the project engineer and the operating railroad indicating that the project meets American Railway Engineering and Maintenance-of way Association ("AREMA") and Federal Railroad Administration ("FRA") standards and other necessary compliance requirements.

I. If applicable, an appraisal and two review appraisals, must be conducted no more than three months prior to loan closing, on buildings and associated land to be purchased.

J. Maps reflecting the project location as well as detailing of the improvements.

K. Cost verifications must be on engineers' or architects' original letterhead, signed and sealed by the firm's representative.

L. Budget Sheet breakdown of sources and uses of funds.

M. The Applicant's certified public accountant, auditor or fiscal officer must furnish to MDA the most current annual audit and the latest financial summary reflecting any additional long-term debt or any changes in their financial position since the last annual audit was prepared.

N. If two separate local units of government jointly fund a project, the Applicants must have an inter-local agreement with the Attorney General's approval.

O. If applicable, the Applicant must provide an award letter or documentation verifying other funding sources.