Nevada Administrative Code
Chapter 445A - Water Controls
Section 445A.Sec. 3.1 - NEW

Universal Citation: NV Admin Code 445A.Sec. 3.1

Current through September 16, 2024

1. Except as otherwise provided in subsection 5, the Division shall charge a recipient a loan origination fee of:

(a) If the recipient receives a principal forgiveness loan or a short-term loan, $1,000.

(b) If the recipient receives a long-term loan, 0.5 percent of the total amount of the longterm loan.

2. A loan origination fee required pursuant to subsection 1 is due to the Division not later than 30 days after the closing of the loan.

3. Except as otherwise provided in subsection 5, in addition to a loan origination fee, the Division shall charge a recipient:

(a) If the recipient issues a bond, a fee equal to 0.5 percent of the original loan amount.

(b) If the recipient does not issue a bond, a fee equal to 0.75 percent of the original loan amount.

4. Any fee required pursuant to subsection 3 must be paid to the Division in equal installments over the life of the loan and is due to the Division not later than January 1 of each year.

5. The Division shall not collect from a recipient any fee set forth in this section if the recipient receives financial assistance for a water project that will serve a disadvantaged community.

Added to NAC by Environmental Comm'n by R109-22A, eff. 12/29/2022

NRS 445A.270, 445A.280

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