Prior to the loaning of any funds to an enterprise for building and equipment, the Authority shall receive from such enterprise a loan application in the form adopted by the Authority which shall contain, without being limited to, the following provisions:

1. A general description of the project and a general description of the purpose for which the project is to be established;

2. A legal description of all real estate necessary for the project;

3. Such plans and other documents as may be required to show the type, structure and general character of the project;

4. A general description of the types and categories of skills, and the number of employees to be employed in the operation of the project;

5. Estimates of costs of the project;

6. A general description and statement of value of any property, real or personal, of the enterprise applied or to be applied to the project;

7. A statement of cash funds which are to be applied to the project by the enterprise;

8. Evidence that the project will not cause the removal of an industrial or manufacturing plant or facility from one area of the state to another area of the state, or replace an existing facility; and

9. Any additional evidence which the Authority may deem pertinent to the determination of the probable successful operation of the project at the selected location, and indicating that a substantial increase in employment and payrolls will probably result from the granting of such loans.

Added by Laws 1983, c. 168, § 13, emerg. eff. June 6, 1983.