How does an institution apply to the Authority for financing?
The Authority strongly urges interested institutions to contact the Authority for preliminary discussions before engaging any outside professional or attempting a formal application. An institution may have a variety of needs — new construction, renovation of existing spaces, equipment purchases and/or refinancing of outstanding loans, et cetera — which can be included on a single bond issue. By an early determination of the nature of the project and its individual components, the Authority guides suitable applicants successfully through the tax-exempt bond issue process without undue expenditures of time or cost. Formal application requirements are as follows: • A brief description of the project on a form provided by the Authority; • a resolution by the governing board of the institution making the application; • a Save and Hold Harmless Agreement indemnifying Authority members and staff; • the payment of fees. A schedule of fees is available from the Authority.
Related Questions
- What authority should I apply first, my institutions operational authorities, the MIDAs for common administrative records, the five generic MIDAs, or the Transitory Records Authority?
- What if an organisation operates more than one fund, authority or institution?
- How many guarantees can be awarded by the Commonwealth Financing Authority?
