§39A-254  Conditions precedent tonegotiating and entering into a project agreement.  (a)  Prior to enteringinto negotiations with any project party, the department shall require that theproject party shall agree to pay all fees, costs, and expenses (direct orindirect) assessed by the department in implementing and administering thispart, as determined by the department, even though a project agreement may notbe entered into.  The department may further require the deposit of moneys withit to pay for fees, costs, and expenses.  The department shall return anyamount of the deposit exceeding the amount required to reimburse the State tothe party that made the deposit.  The State shall not be required to pay to theproject party any interest or earnings on the deposit.

(b)  The department shall not enter into anyproject agreement with respect to any project unless the department shalldetermine that:

(1)  The project party is a responsible party, whetherby reason of economic assets or experience in the type of enterprise to beundertaken through the project, or some other reason; or

(2)  The obligations of the project party under theproject agreement will be unconditionally guaranteed by a person who is aresponsible party, whether by reason of economic assets or experience in thetype of enterprise to be undertaken through the project, or some other reason.[L 2002, c 257, pt of §1; am L 2007, c 44, §13]