Rhode Island Code of Regulations
Title 830 - Infrastructure Bank
Chapter 10 - Programs
Subchapter 15 - Septic and Sewer
Part 2 - Facility Plan Loan Program Loan Policies and Procedures
Section 830-RICR-10-15-2.4 - Loan Application
Universal Citation: 830 RI Code of Rules 10 15 2.4
Current through September 18, 2024
A. Request for financing under the Facilities Plan Loan Program should be submitted in writing by the chief executive officer or other authorized officer of the local governmental unit to the Executive Director of the Bank. The written request shall include:
1. A projection of the total actual costs for preparing the Facility Plan or amendments or updates to such plans as approved by the Department of Environmental Management.
2. A description of the dedicated source of loan repayment, i.e. general revenues from property taxes of cities and towns, wastewater system revenues, or other sources available to the local governmental unit and deemed acceptable by the Bank
3. A description of the overall operations of the local governmental unit, including but not limited to the most recent annual report or audited financials, with an emphasis on
a. legal structure;
b. management;
c. sources of revenues;
d. operating expenses;
e. operating surpluses or deficits;
f. actual results versus budget;
g. sources of financial liquidity.
4. Legal authority or authorities to borrow from the Facilities Plan Loan Program.
5. Other information reasonably requested by the Bank.
Disclaimer: These regulations may not be the most recent version. Rhode Island 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.
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