Administrative Rules of Montana
Department 36 - NATURAL RESOURCES AND CONSERVATION
Chapter 36.24 - WATER POLLUTION CONTROL STATE REVOLVING FUND ACT
Subchapter 36.24.1 - Financial Assistance
Rule 36.24.103 - DIRECT LOANS
Current through Register Vol. 6, March 22, 2024
(1) The department may make a direct loan to a borrower for the purpose of financing or refinancing eligible projects costs of an eligible water pollution control project.
(2) The bond resolution must be in a form acceptable to the department and contain provisions and covenants appropriate to the type of bond being issued, consistent with the provisions of these rules, the commitment agreement and any financial or other requirements imposed by the department pursuant to these rules.
(3) Anytime after receipt of notice that the proposed project has been placed on the priority list and the engineering report for the proposed project, including compliance with the Montana Environmental Protection Act has been approved, a municipality or private person may file an application for financing from the state revolving fund. The borrower shall indicate on the application the type of bond it proposes to issue to secure the requested loan. The borrower shall submit with its application the financial information necessary to enable the department to determine compliance with the provisions of these rules and sufficient information to determine whether the project proposed to be financed is an eligible water pollution control project.
75-5-1105, MCA; IMP, 75-5-1113, MCA;