Ohio Administrative Code
Title 6121 - Ohio Water Development Authority
Chapter 6121-2 - Financing Waste Facility and Energy Resource Development Projects
Section 6121-2-03 - Approval of loans or grants
Universal Citation: OH Admin Code 6121-2-03
Current through all regulations passed and filed through December 16, 2024
(A) From monies of the authority, or under the control of the authority, that, by the governing body or by law, have been allocated to a program fund established pursuant to rule 6121-2-02 of the Administrative Code, the governing body may approve a loan or grant to an applicant if all of the following apply:
(1) The applicant has
supplied to the executive director of the authority, in such form and manner as
they
prescribe, all information needed to determine each of
the following:
(a) That the project to be
funded by the loan or grant is one that may be lawfully financed
or re-financed by the authority pursuant to
Chapter 6121. or 6123. of the Revised Code;
(b) That the applicant may lawfully
acquire,
construct,or re-finance debt, or plan for the
acquisition or construction of, or conduct, the project;
(c) That the applicant has the ability to
comply with all the terms and conditions of the participation agreement
executed between the authority and the applicant;
(2) The applicant
shall
submit
to the executive
director of the authority a participation agreement containing terms and
conditions satisfactory to the governing body of the authority.
(B) Upon approval of the loan or grant by the governing body, the executive director shall sign and otherwise complete the execution of the participation agreement on behalf of the authority.
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