IDA Application Process

This information is intended to be a summary only of the steps in the application process. Applicants will be given detailed Bonding Procedures and Guidelines when requesting an application.

Step 1 - Application for Bond Financing

To assist the Authority in evaluating bonding proposals, an application seeking initial approval is required. It is recommended the applicant become acquainted with the anticipated bonding expenses early in the process.

Step 2 - First Meeting & Initial Approval

Upon submitting an application and payment of necessary fees, the applicant will be notified of the date when the Authority will hold a public meeting to review the submission. The Authority typically acts on the Resolution conferring initial approval at the first meeting.

Step 3 - Preliminary Agreement

Once the Authority has acted favorably on a Resolution conferring its initial approval, a Memorandum of Agreement which defines the parties' relationship will be submitted to the applicant.

Step 4 - Notices & Hearing

A notice needs to be given to the Attorney General of the State of Arizona of the Authority's intent to issue bonds. A public hearing needs to be held to elicit public comment concerning the project.

Step 5 - Allocation

Most projects must apply for and receive an allocation from the State of Arizona.

Step 6 - Second Meeting & Final Approval

After all of the parties participating in the bond, the process has agreed on the bond documents' contents. A second meeting will be scheduled for the Authority to consider adopting a final Resolution authorizing the issuance of the bonds and approving the bond instruments.