(A) Prior to submitting a formal application to the village, potential applicants shall contact the village for a preliminary project review and an explanation of application procedures.
(B) Upon a potential applicant’s determination that a formal application is desired to be submitted, a complete application form shall be tendered to the village, which shall be addressed to the Village Board President and contain a complete and thorough analysis of the particular industrial or commercial purpose including, inter alia, the following information:
(1) A statement defining the project, showing its achievement of stated public policy objectives and specifically indicating the number of jobs created, yearly anticipated payroll, increases in sales and property taxes to the village and any other specific data more fully explaining the achievement of public policy objectives;
(2) A detailed cost breakdown of all elements of anticipated costs (not just a general statement of total anticipated costs);
(3) Balance sheets and income statements pertaining to the applicant entity for the past three years (if the applicant entity is a corporation, said financial statement shall be prepared by a certified public accountant);
(4) The name of the person that will purchase the bonds (if known purchasers are available);
(5) A SEC-10-K report in the event that the applicant entity is a corporation required to file such a report;
(6) The name and address of two commercial bankers who may be contacted and used for reference purposes;
(7) A list of all officers, directors and principals, including their biographies and personal financial statements if the particular project proposes that bonds will be guaranteed by them;
(8) Complete architectural design and construction documents sufficient to enable the village to evaluate a proposed building, rebuilding or remodeling or improvement thereby proposed;
(9) An underwriter’s or institutional investor’s letter as to proposed interest rates and possibility of placement;
(10) All documents identifying the legal description of the property and a full abstract, owner’s title policy or preliminary title report;
(11) A written commitment from proposed purchasers of the bonds to the effect that any of the bonds be purchased and stating the terms of such purchase (the applicant must have arrangements made or proposed for private placement of the bonds);
(12) A letter guaranteeing to pay all the costs of the village, its agents and employees, whether or not the issue is approved;
(13) A schedule and timetable of planned construction, rebuilding or remodeling; and
(14) Any other information, documents, assurances, security or agreements as required by the Board of Trustees.
(Prior Code, § 8-103)