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<br />FINANCIAL COMMITMENTS <br /> <br />Is there other related financial assistance on this project (previous, pending, or <br />anticipated)? If funds are committed from an outside source follow the guidelines <br />below: <br /> <br />Any application that shows funding from sources other than EDIGP must include <br />as an attachment, a letter of commitment from the funding source (see samplel. <br />A commitment of funds must be in the following format: <br /> <br />FOR PRIVATE BUSINESS INJECTION: <br /> <br />1. If the company is using other private financing, a commitment from the <br />other private financing entity must be in the form of a letter from each <br />entity committing funds indicating the same information as in 2 below. <br /> <br />2. If company/corporate/personal funds, a letter from that company's chief <br />executive officer or the principals of the firm (or that person) indicating the <br />commitment amount, stated proposed use of the funds, estimated date of <br />availability, the rate and term, the expiration date of the commitment and <br />the security of the loan. <br /> <br />3. if the company is using public financing, a commitment from the financing <br />entity must be in the form a letter from each entity' committing funds <br />indicating the same information as in 2 above. <br /> <br />FOR PUBLIC INJECTION: <br /> <br />1. A commitment of city or county funds by the applying jurisdiction must be <br />in the form of a resolution from the local governing body. The same <br />information as outlined above for letters of commitment must be included <br />in the resolution. The commitment may be contained in the same <br />resolution which authorizes the submission of an application. <br /> <br />2. Regarding industrial revenue bonds, a separate local bond inducement <br />resolution stating the dollar amount and conditions of sale/issuance must <br />be included here. (A letter from the purchaser of the bonds must also be <br />included in order for the funds to be utilized for project feasibility.) <br /> <br />NOTE: At the time of contracting, a verification of deposit will need to be included <br />from the institution where the funds to be injected are on deposit. showing that <br />thee are sufficient funds available for injection into the proposed project. <br /> <br />24 <br />