HAR §6-16-6. Letter of intent

An applicant shall submit a letter of intent for a project agreement to the director of finance. The letter shall contain, at a minimum, the following information: (1) The approximate principal amount of the special purpose revenue bonds, not including bond issuance costs. This amount represents the net proceeds of the bonds required for the financing of the cost of the facility. (2) A general description of the early childhood education and care facility to be financed, including the types of services to be provided and the number of children to be served. (3) The proposed security for the bond repayment. (4) If the facility involves new· construction, the estimated timetable for its construction and availability for use. (5) The proposed timetah]e for the issuance of bonds. [Eff APR 1 1 311 ] (Auth: HRS §26-38) (Imp: HRS §39A-222)