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• • <br />4 <br />SECTION 2.03: Application of an issuer for final approval of a project <br />shall include: <br />(1) Representations of the issuer, lessee and ultimate lessee <br />that <br />(a) The issuer has or will acquire good and indefeasible <br />title to the land required for the project. The interest of the <br />issuer in the land shall be fee simple title except for good cause <br />shown to the Commission. Title insurance had been or will be secured <br />by the issuer in a title insurance company satisfactory to the Commission. <br />(b) Issuer will employ architects and registered professional <br />engineers, either or both, in connection with the design and construction <br />(including supervision of construction) of the project. <br />(c) No bond proceeds shall be paid to or for the ultimate <br />lessee for usual expenses of operation. <br />(d) A detailed showing of the cost of the project has been <br />supplied to the Commission together with a list of the sources from <br />which payment will be made. The statement shall show items of cost as <br />follows: <br />a' <br />• <br />(i) the acquisition of all land, right of way, property • <br />rights, easements and interests acquired or to be <br />acquired; <br />(ii) machinery and equipment; <br />(iii) building costs; <br />(iv) financing charges, <br />(1) Interest prior to, during construction and <br />for one year after completion of construction, <br />if applicable; <br />(2) Fees of financial advisor,~and bond counsel, <br />bond delivery and printing expense and any <br />fees in connection with financing and feasibility <br />studies; <br />(v) engineering - including costs of estimates, surveys; <br />(vi) architectural fees; <br />(vii) administrative expense of issuer and lessee; <br />• <br />