[Iowa DOT] 650004: Authorization To Loan

10/17/2026

AUTHORIZATION TO LOAN

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Contracts and Specifications BureauIowa Department of Transportation800 Lincoln WayAmes, Iowa 50010

Gentlemen and Ladies:

I/We understand that

has filed

with the Iowa Department of Transportation a Contractor’s Financial. Experience. Equipment Statement dated

as a requirement for qualifying to bid on highway projects.

I/We also understand that the formula used by the Iowa DOT in qualifying a contractor is the sum of the contractor's current assets, minus current liabilities, plus one-half of the noncurrent assets minus noncurrent liabilities.

In order to permit the contractor to increase their maximum qualification, we hereby certify that we, as duly authorized officers, have been authorized by the board of directors, or the committee for approval of loans, of the

to grant a loan in the amount of

to the above named contractor, upon request.

It is understood that this authorization to grant a loan is based on the customary security and loan agreements and is for use in prosecuting any highway contracts on which they may be the successful bidder, and that it shall continue until the contracts terminate. It is also understood that this authorization (check the appropriate statement):

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