Sec. 14.29.04.07. Loan Administration

A. Books and Records.

(1) A borrower shall maintain the books, accounts, and records related to a loan or the activity funded by a loan that the Authority from time to time may require, and shall cause the borrower’s contractors and subcontractors to do the same.

(2) A borrower shall file with the Authority financial and other reports as the Authority may from time to time require.

(3) Books, accounts, and records required to be maintained under this section shall be:

(a) Open for inspection by representatives of the Authority or the State during reasonable working hours before, during, or after repayment of the loan; and

(b) Maintained and made available for inspection for up to 3 years after either the date of the borrower’s repayment of the loan or the termination of the contractual relationship between the Authority and the borrower, whichever is later.

(4) A borrower shall, upon request of the Authority or the State, make the borrower’s administrative offices and personnel, whether full-time, part-time, consultants, or volunteers, available to discuss or address matters concerning administration of the loan or of the activity funded by a loan.

B. Inspections. The Authority may conduct periodic inspections during the undertaking of an activity funded by a loan to assure that the activity is progressing in accordance with all terms and conditions of the loan documents or other requirements of the Authority.

C. Reports. A borrower shall submit a final report, and interim reports as may be required by the Authority, that document progress and evaluate effectiveness of the activity funded by a loan.

D. Nondiscrimination.

(1) A borrower may not discriminate on the basis of age (except with respect to residents in elderly projects), race, color, religion, national origin, sex, sexual orientation, marital status, or physical or mental handicap in any aspect of the project financed under the Program, or in any aspect of employment by any borrower, or contractor for any project financed under the Program.

(2) A borrower shall comply with all applicable federal, State, and local laws and Authority policies and programs regarding discrimination and equal opportunity in employment, housing, and credit practices including:

(a) Titles VI and VII of the Civil Rights Act of 1964, as amended;

(b) Title VIII of the Civil Rights Act of 1968, as amended;

(c) The Governor’s Code of Fair Practices, as amended; and

(d) The Authority's Minority Business Enterprise Program, as amended, if the borrower does not have a minority business participation program which is acceptable to the Authority.