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(a) The board will, in its discretion, issue solicitations for proposals to form, capitalize, and operate BIDCOs. Subject to the availability of appropriations from the legislature, the foundation will capitalize a BIDCO with at least $1,000,000 of foundation money, if the applicant provides a matching amount of $1,000,000.
(b) If a BIDCO proposal submitted in response to a solicitation under this section contains proprietary information, the foundation will treat that information as confidential as in 3 AAC 233.950. To receive a loan under this section, a BIDCO must agree to treat applications to the BIDCO for assistance as confidential as described in 3 AAC 233.950
(d) The board will specify in the loan agreement
(1) the terms and conditions for repayment of a loan under AS 37.17.220 ; the board will develop those terms and conditions in accordance with the requirements of AS 37.17.220 - 37.17.390 and with good business practice; and
(2) the formula for calculating the credits described in AS 37.17.280 .
History: Eff. 8/14/99, Register 151
Authority: AS 37.17.010
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Last modified 7/05/2006