§ 42-61. Loan administration committee.

(a)

The county will establish an RLF loan administrative committee, hereinafter referred to as the committee. The committee will consist of seven members representing a cross section of business leaders, minorities, and the banking community. The duties of the committee will be as follows:

(1)

Review all loan applications submitted for funding, establishing that each loan request has sufficient collateral, financial feasibility, and sound management practices;

(2)

Recommend approval or rejection of applicants to the board (all loans receiving approval recommendations will be in compliance with the goals, policies, and procedures as set forth in this division); and

(3)

Establish, with the approval of the board, rules, procedures, policies, goals, and forms to further the purpose of this division.

(Ord. No. 93-69, § 5)

Cross reference

Boards, commissions, committees and authorities, § 2-816 et seq.