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Illinois Statutes Chapter 20. Executive Branch § 1105/10. Evaluation of loan applications

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 10. Evaluation of loan applications. The Department shall evaluate applications for loans and make such evaluations available to the Illinois Coal Development Board. Evaluation of the loan applications shall be based on, but not limited to, the following criteria:

(a) The length of time applicants will commit to using Illinois coal in the facility which is modified, acquired or constructed as a result of the project. The applicant must agree to use Illinois coal for at least the life of the loan as a condition of such loan. Weight shall be given for longer commitments.

(b) The total amount of Illinois coal used. Weight shall be given to projects using larger amounts of Illinois coal over the life of the loan.

(c) The percentage of the total project costs the State is asked to finance. Weight shall be given to projects which maximize the use of private funds or funds from other public sources.

(d) The technical merits of the project, including but not limited to, the effectiveness of the prepared coal-use system in controlling emissions of sulfur dioxide and other pollutants.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 20. Executive Branch § 1105/10. Evaluation of loan applications - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-20-executive-branch/il-st-sect-20-1105-10/

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