The authority may not guarantee refinanced debt
(1) unless the refinancing
(A) is necessary to extend substantial debt payments over a longer period of time, thereby improving the applicant's net cash flow and working capital position consistent with the useful life of the assets being refinanced;
(B) assists with short-term debt or cash expenditures when lenders will not extend reasonable longer terms to the applicant; and
(C) creates additional economic opportunity or improves the viability of the borrower rather than just reducing the liability of the lender; or
(2) unless the refinancing is necessary to place a permanent loan subsequent to an interim loan for financing of the project.
Sec. 44.88.530. Applicability of AS 44.88.535 - 44.88.560.
AS 44.88.535 - 44.88.560 apply to new loan guarantees and refinancing guarantees under AS 44.88.500 .
Section: Previous 44.88.500 44.88.502 44.88.505 44.88.510 44.88.515 44.88.520 44.88.525 44.88.535 44.88.540 44.88.542 44.88.545 44.88.550 44.88.555 44.88.560 44.88.570 NextLast modified: November 15, 2016