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(1) Purpose of the Authority. The Montana health facility authority (the "authority") is created by 2-15-1815 , MCA, to contain the costs of eligible facilities by making low-cost financing available to eligible institutions for facilities and equipment.

(2) Membership of the board. The authority consists of a quasi-judicial board of seven members (the "board") appointed by the governor in the manner prescribed by 2-15-124 , MCA.

(3) Organization of the Authority. The authority is allocated to the department of commerce for administrative purposes. It has the authority to employ or contract for professional staff and consultants, prescribe their duties and responsibilities, and assign classes and grades to its employees. A chart of the organization of the department can be found in ARM 8.1.101, and the authority hereby adopts and incorporates this chart by reference into its organizational rule.

(4) Information and Submissions. Inquiries regarding the authority may be addressed to the Montana Health Facility Authority, P.O. Box 200506, Helena, Montana 59620-0506.

When used in these rules, unless the context clearly requires a different meaning:

(1) "Authority" means the Montana health facility authority created by 2-15-1815 , MCA.

(2) "Board" means the seven-member board created by 2-15-1815 , MCA, as the governing body of the Montana health facility authority.

(3) "Department" means the Montana department of commerce.

(4) "Eligible facility" means "any structure or building described in 90-7-104 , MCA, as amended.

(5) "Institution" means "an entity identified in 90-7-102 (5) , MCA, as amended."

(6) "Loan program" means a program for funding loans from the proceeds of bond issues, permanent coal tax trust fund or other authority funds.

(1) The authority hereby adopts and incorporates by reference ARM 1.3.204 through 1.3.233 of the attorney general's model procedural rules. A copy of these rules may be obtained from the Montana Health Facility Authority, P.O. Box 200506, Helena, Montana 59620-0506.

(1) The authority hereby adopts and incorporates by reference the citizen participation rules of the department as set forth in ARM 8.2.201 through 8.2.207. A copy of these rules can be obtained from the Montana Health Facility Authority, P.O. Box 200506, Helena, Montana 59620-0506.

This rule has been repealed.

(1) The authority shall adopt underwriting policies, procedures and criteria for the various types of loan programs. All policies, procedures and criteria must be approved during its board meetings. Policies and procedures developed and approved by the authority may include, but are not limited to:

(a) the development and approval of loan underwriting policies for all types of loans authorized by the authority, including the loan application process and any appeals process available to loan applicants whose application is disapproved;

(b) criteria for assessing and qualifying loan applications;

(d) loan application forms and the type of information required on the application;

(e) the establishment and payment of initial and annual planning service fees and costs and expenses, when these fees, costs and expenses may be waived or reduced, and when they may be retained if the loan application is withdrawn or disapproved;

(f) the parameters and criteria for setting loan interest rates;

(g) a maximum loan amount based upon the actual total costs or appraised value of the project at the discretion of the authority;

(h) disclosure that a prerelease contract, as security for the bonds, between the department of corrections and the respective institution is valid and enforceable and does not constitute any liability or obligation of the authority; and

(i) the development and execution of policies, resolutions, agreements, contracts, certificates, opinions and other documents as may be necessary and appropriate to carry out the loan programs and the administrative programs of the authority.