2006 Code of Virginia § 3.1-67 - Application to Commissioner for loan; form and contents

3.1-67. Application to Commissioner for loan; form and contents.

Any eligible borrower desiring to build a wholesale produce market may applyto the Commissioner of Agriculture and Consumer Services for a loan from thisfund to be used for the purpose set forth in 3.1-66, provided such marketis to be operated in such a manner as to comply with the objectives of thisarticle and for the duration of any such loan, to earn revenues sufficientonly to conduct its business and meet its obligations, with reasonablereserves.

Such application shall be made on forms prescribed by the Commissioner. Inaddition to other information called for, such application shall giveinformation as to the financial needs of such facility, the use expected tobe made of the requested loan, the anticipated sources of all funds requiredto build the facility, the anticipated revenue of such facility, wherein thepublic welfare will be promoted by making the loan, and the reasons why suchfacility is expected to be self-liquidating.

(Code 1950, 3-79.21; 1954, c. 453; 1966, c. 702.)