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performance, management ability and the applicant's plan | | for marketing products or service; |
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| | | (5)__Whether the applicant meets or exceeds industry | | average financial performance ratios commonly accepted | | in determining creditworthiness in that industry; |
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| | | (6)__Whether collateral securing the repayment | | obligation, valued in place and in use, is reasonably | | sufficient under the circumstances; and |
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| | | (7)__Whether the owner will make an important equity | | contribution to the project.__For purposes of the | | authority's consideration of the project, the net | | present value of any contractual labor cost reductions | | that, as a condition of the financial assistance, will | | be in effect at the time financial assistance is | | provided must be treated as the equivalent of cash | | equity. |
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| | | Sec. 8. 10 MRSA §1053, sub-§6, as repealed and replaced by PL 1997, c. | | 781, §1, is amended to read: |
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| | | 6. Securities outstanding. The principal amount of revenue | | obligation securities the authority may have outstanding at any | | one time, to which subsection 5 is stated to apply in the trust | | agreement or other document, may not exceed an aggregate | principal amount equal to $657,000,000 |
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| | | A. The sum of $330,000,000 consisting of not more than | | $275,000,000 for loans and up to $55,000,000 for use of bond | | proceeds to fund capital reserve funds for revenue | | obligation securities issued pursuant to this subchapter | | relating to loans for electric rate stabilization projects; |
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| | | B. The sum of $120,000,000 consisting of not more than | | $100,000,000 for loans and up to $20,000,000 for use of bond | | proceeds to fund capital reserve funds for revenue | | obligation securities issued pursuant to this subchapter | | relating to loans for major business expansion projects; |
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| | | C. The sum of $57,000,000 consisting of not more than | | $45,000,000 for loans and up to $12,000,000 for use of bond | | proceeds to fund capital reserve funds for revenue | | obligation securities issued pursuant to this subchapter | | relating to workers' compensation residual market mechanism | projects; and |
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| | | D. The sum of $150,000,000 less the aggregate outstanding | | balance of mortgage loans secured by capital reserve funds | | pursuant to section 1032 for all other revenue obligation | securities issued pursuant to this subchapter. |
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