(A) The City Administrative Officer is responsible for reviewing the proposed terms of the bond issuance and may require the applicant to submit the following:
(1) A completed industrial building revenue bond application form;
(2) A copy of the letter of inducement addressed to the Mayor;
(3) An independent audit and certified financial statement of the applicant or applicants for the most current complete year, prepared and certified by an independent certified public accounting firm. Audit statements prepared by an independent certified public accounting firm for the last three complete years are preferred and may be requested by the City Administrative Officer; and
(4) A letter from the proposed purchaser of bonds confirming its intent and evidencing its ability to purchase the bonds.
(B) The City Administrative Officer may request additional information if necessary in order to adequately review any project.
(C) The City Administrative Officer may promulgate written policies and guidelines for the review of applications for the issuance of industrial building revenue bonds not inconsistent with the provisions of this chapter.
(D) Following receipt of the City Administrative Officer's recommendation, the Mayor shall respond to the applicant and may propose qualifications or reservations to the terms of bond issuance.
(E) The city may require that applicants for the issuance of industrial revenue bonds arrange for the private placement of the bonds with reputable financial institutions.
(Ord. 07-2002, passed 4-16-2002)