Pennsylvania Code
Title 25 - ENVIRONMENTAL PROTECTION
Part VI - Water Facilities Loan Board
Chapter 951 - WATER FACILITIES RESTORATION LOANS
Section 951.10 - Approval of applications; priority for loans
Universal Citation: 25 PA Code ยง 951.10
Current through Register Vol. 54, No. 44, November 2, 2024
(a) At each regularly scheduled meeting the Board will consider the Department's recommendations and other competent information relating to the applications before the Board and will establish a priority list among the approved applications in each loan category, subject to the following conditions:
(1) The Board will
approve, deny or defer each loan application under consideration and will
decide upon the priority among the aproved applications in each loan category
in accordance with factors in section 7515 of the act (relating to priorities
for loans).
(2) The Board may
approve applications and place them on the priority lists until it has
committed all of the funds allocated for loans in the Water Facilities Loan
Fund plus not more than 50% of the funds forecast by the Office of Budget for
the Water Facilities Loan Program from the next issue of Water Facilities Loan
Program bonds.
(3) The Board will
commit funds to approved project applications in the numerical order that each
project appears on the priority list within each loan category. Successive
Board actions will add to, but will not rearrange, the priority
lists.
(4) A deferred application
will have no higher priority or ranking at any subsequent Board meeting than
any other application under consideration.
(b) The Board retains the discretion to modify procedures in emergencies or other extraordinary circumstances.
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