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<br /> Deadline
<br /> MassDEP must issue a PAC by December 31, 2020.
<br /> When the application for financial The loan questionnaire ensures that the
<br /> assistance is accepted, MassDEP will issue Trust is complying with the laws and
<br /> a PAC after a complete loan application regulations that apply to issuing tax-
<br /> package has been submitted. exempt bonds. It includes key contact
<br /> information and loan terms, including:
<br /> • If any requirements have not been met
<br /> by December 31, 2020, the PAC will be Relevant financial information needed
<br /> issued as "restricted." by the Trust
<br /> ZZ
<br /> • Once all PAC requirements to receive The Trust requests information
<br /> financial assistance have been met, the regarding credit ratings, sources of
<br /> PAC is sent to the Trust's Board of repayment and estimated cash flows.
<br /> Trustees for a vote to create a loan
<br /> commitment. The Green Light Letter is submitted by the
<br /> borrower's bond counsel to the Trust in
<br /> The Trust will then send the community a order to certify that the local vote to
<br /> Loan Commitment Package that outlines authorize the loan is legal.
<br /> commitment information and conditions. The
<br /> package also gives instructions on
<br /> completing the loan questionnaire and how
<br /> to submit a Green Light Letter. 12
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