Pennsylvania Code
Title 4 - ADMINISTRATION
Part V - EMERGENCY MANAGEMENT AGENCY
Chapter 113 - VOLUNTEER FIRE COMPANY, AMBULANCE SERVICE AND RESCUE SQUAD ASSISTANCE
FACILITY LOANS
Section 113.103 - Proceeds of loan
Universal Citation: 4 PA Code ยง 113.103
Current through Register Vol. 54, No. 44, November 2, 2024
(a) Proceeds of the loan may be used for land acquisition, or facility construction and modernization specifically described on the loan application and loan agreement. If proceeds of the loan are to be used for land acquisition, approval will be granted only under the condition that construction begins within 6 months.
(b) Proceeds of the loan may be used for the refinancing of debts incurred with a lending institution or contracts entered into after November 4, 1975 and shall be used for the construction or modernization of facilities.
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