ARM 8.97.719. CRITERIA FOR EVALUATION OF ALL PROGRAM APPLICATIONS

(1) In evaluating applications for financing under the program, the board shall consider the following factors: (a) the lawfulness and validity of the purpose to be served by the financing; (b) the ability of the eligible government unit to secure borrowed money from other sources and the costs thereof; (c) the ability of the eligible government unit to pay principal of and interest on its obligations when due; (d) the priority of need for the particular public improvement or purpose to be financed; (e) the chronological order of receipt of a completed application; (f) compliance with other eligibility requirements as set forth in these rules; (g) compliance with the underwriting standards of the board used to determine whether the eligible government unit has sufficient funds or ability to repay a program loan. A copy of the applicable underwriting standards may be obtained from the bond program office; and (h) other information as the board may deem necessary. (2) As required by 2-4-305 , MCA, notice is hereby given that (1) (a) , (b) , (c) and (d) repeat parts of 17-5-1611 , MCA, and are included in this rule in order to provide the public with full disclosure of all evaluation criteria.