Oklahoma Administrative Code
Title 330 - Oklahoma Housing Finance Agency
Chapter 30 - Multifamily Housing Bond Program
Subchapter 2 - General Provisions
Section 330:30-2-5.1 - Eligibility of Borrowers
Universal Citation: OK Admin Code 330:30-2-5.1
Current through Vol. 41, No. 13, March 15, 2024
(a) The AP, as approved by the Trustees may modify, expand, or clarify the following criteria.
(b) Eligible Borrowers may include any Person as defined in this Chapter.
(c) Each Borrower must meet the requirements set forth in this subsection:
(1) If the
Borrower is a business entity, the entity must be in good standing and be
qualified to do business in Oklahoma under Oklahoma laws and these
Rules.
(2) The Borrower must have
all necessary legal authority to incur the obligations relating to the MF Bonds
requested.
(3) The Borrower must
demonstrate creditworthiness and repayment ability.
(4) The Borrower must demonstrate, it is
capable of and can reasonably be expected to achieve successful completion of
the proposed Development.
Added at 20 Ok Reg 2411, eff 7-11-03; Amended at 30 Ok Reg 1977, eff 7-31-13
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