Cheboygan County. Township Road Loan Program Application. APPLICATION DUE August 1, 2017
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1 2017 APPLICATION DUE August 1,
2 Michigan Public Act 77 of 2016, Section 11, Item V permits the Board of Commissioners to loan funds to townships within the County for the purpose of funding public road construction projects. The County has limited funds for this program. The County will loan up to a total of 1.25 million dollars County wide for road projects. A township may borrow up to $ 250,000 while funds are available. Loans will be amortized over a period not to exceed five (5) years, except in cases where special assessment funds are being used to repay the loan, in which case the length of time will correspond to the duration of the special assessment district, up to a maximum of (10) years. The interest rate on the loan program applications will be established annually by the Board of Commissioners. Once a loan is awarded and distributed to a township, the interest rate will remain fixed for the term of the loan. Request for loan funds must be submitted on this application form for consideration by the Board of Commissioners. Applications can be submitted by the date indicated on the cover page. Loans are awarded in February and August of each year while funds are available. The application will be reviewed and scored against other applicants for recommendation of approval by the Board of Commissioners. SUBMIT COMPLETED APPLICATIONS TO: Mail: Cheboygan County ccao@cheboygancounty.net Administration Office P.O. Box 70 Cheboygan MI For additional information, please contact the Administration Office: (phone) (Fax) 2
3 Township s certification of non-discrimination At a meeting of the Township Board (Select one): o o Adopted a policy Affirmed its policy of non-discrimination as follows: It shall be the policy of Township to provide membership/employment/service opportunities to all eligible persons, without regard to race, religion, disability, national origin, citizenship, age, gender, sexual orientation, marital status and political affiliation. I certify that the practices of the Township conform to the policy in Non-discrimination stated above. Township Clerk 3
4 1. Name and address of Township. Township Address City, State, Zip Code 2. Names and title of Officers/ Trustees. Township Supervisor Township Clerk _ Township Treasurer _ Township Trustee _ Township Trustee 4
5 3. Route Name 4. Project Description 5. Project Limits From: To: PASER Rating: 6. Length of Project 7. Estimated Bid Date 8. Estimated Completion Date 9. Funding Source Loan Request 5
6 Township Funding Road Commission/ Other Government Funding Special Assessment Funding Cheboygan County Total Funding Loan Repayment Term Requested (see Policy) 10. Engineer s Construction Cost Estimate 11. Township Fiscal Information Provide a copy of Township s most recent financial statement audit. Provide a copy of Township s current balance sheet/statement of net position, statement of revenues and expenditures, and changes in fund balance/statement of revenues, expenses, and change in net position and statement of cash flows, if applicable (include all funds). Provide a copy of Township s current bank reconciliations, supported with a copy of the bank statement (include all cash accounts listed on the balance sheet/statement of net position). Provide a list of existing debt (include amortization schedules). Provide a copy of Township s current year budget (include all funds). Provide a payment bond confirmation, if the Township desires additional scoring points. 6
7 Township: Cheboygan County Township Road Loan Program Scoring Criteria (County Use Only) A. Project Description: Proposed projects that serve a larger portion of the general public will receive a higher score than projects serving a limited amount of the public. 1-5 points. B. Road Project Section PASER Rating: Proposed projects improving a road with a lower PASER rating will receive higher scoring. PASER Rating 1-3=5, 4-6=3, 7-9=1. C. Funding Sources: Proposed projects utilizing Township or Road Commission funding receive higher scoring. Over 75%=5, 50%-75%=4, 25%-49%=3, under 25%=1. D. First time Township Road Loan applicants will receive 6 additional points. E. Loans backed by payment bond will receive an additional 5 points. 7
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