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Housing Initiatives Fund Project Evaluation
(Shoveled Projects: Whitehorse)
APPLICANT NAME: ___
PROJECT NAME: ___
PROJECT LOCATION: ___STAGE 1:
Core Requirements
Projects that receive one or more
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What is chapter 9 setting up?
Chapter 9 is a provision of the U.S. Bankruptcy Code that allows municipalities to reorganize their debts while continuing to provide essential services to their residents.
Who is required to file chapter 9 setting up?
Only eligible municipalities, such as cities, towns, and counties, can file for Chapter 9 relief. They must demonstrate that they are unable to pay their debts and intend to develop a plan for reorganization.
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To fill out Chapter 9, municipalities must complete specific bankruptcy forms, providing information about their financial condition, debts, assets, liabilities, and a proposed plan for reorganization.
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The purpose of Chapter 9 is to allow municipalities to restructure their debts and financial obligations, ensuring that they can continue operations and provide essential services while addressing their financial difficulties.
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Municipalities must report detailed financial information, including income statements, balance sheets, cash flow projections, details of outstanding debts, and a proposed plan for debt adjustment.
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