Oklahoma Administrative Code
Title 785 - Oklahoma Water Resources Board
Chapter 50 - Financial Assistance
Subchapter 10 - Drinking Water Treatment Revolving Loan Program Regulations
Section 785:50-10-2 - General approval standards and criteria
Universal Citation: OK Admin Code 785:50-10-2
Current through Vol. 41, No. 13, March 15, 2024
(a) In the review and consideration for financial assistance under the Drinking Water Treatment Revolving Loan Program, the Board shall give consideration to the following general and non-exclusive criteria for application approval:
(1)
Compliance with laws. The application and proposed
drinking water project must be found to be in compliance with all applicable and relevant federal, state and
local laws and regulations, and applicant must possess all necessary and incidental legal rights and
privileges necessary for project commencement and operation.
(2)
Eligibility. The applicant and proposed drinking water project must be determined to be eligible
for the assistance sought.
(3)
Economic feasibility.
The Board shall consider the overall apparent economic viability and feasibility of the drinking water
project as a whole including proposed revenues from the drinking water project and the adequacy and
reliability of estimated revenues necessary for loan repayment when indicated.
(4)
Availability of funds. The Board shall take into
consideration the current and anticipated availability of assistance funds needed to provide the financial
assistance requested.
(b) The Board may deny an application for a loan from the Drinking Water Treatment Revolving Loan Program for any of the following reasons:
(1) The applicant or the entity which stands to receive the
benefit of the financial assistance is not an eligible entity.
(2) The applicant does not have a demonstrated history of sound
management.
(3) The applicant's financial condition is not sound
enough to assure the Board that the loan would be satisfactorily repaid (including but not limited to
circumstances such as inability to meet debt service, inability to meet any applicable rate covenant or
additional indebtedness requirements, a substantial increase in operation and maintenance costs due to the
proposed project, substantial revenue collection problems, substantial negative financial trends, a default
or record of late payment(s) on previous indebtedness, etc.)
(4)
The economic conditions pertinent for the applicant show negative trends (including but not limited to
conditions such as substantial declines in sales tax revenues, population, per capita income, building
permits, or water and/or sewer connections; a substantial increase in unemployment; or detrimental changes in
the bases of ten largest customers or ten largest taxpayers).
(5)
Any other reason based upon applicable law or the Board's judgment and discretion.
Added at 12 Ok Reg 2715, eff 7-1-95; Amended at 14 Ok Reg 2788, eff 7-1-97
Disclaimer: These regulations may not be the most recent version. Oklahoma may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.