Rhode Island Code of Regulations
Title 830 - Infrastructure Bank
Chapter 10 - Programs
Subchapter 15 - Septic and Sewer
Part 4 - Sewer Tie-In Loan Fund Policies and Procedures (830-RICR-10-15-4)
Section 830-RICR-10-15-4.5 - Loan Approval Process

Universal Citation: 830 RI Code of Rules 10 15 4.5
Current through September 18, 2024

Subject to availability of Bank funds and to prioritization by DEM of projects as listed in the most current DEM Project Priority List, as well as an indication of approval for financing from the Bank to establish a Sewer Tie-In Loan Program within the local governmental unit, loan applications will be considered for approval by the Bank for any eligible local governmental unit STILF Loan. The Bank shall make a determination on each loan application from an eligible local governmental unit. The local governmental unit will provide a general obligation pledge, promissory note in fully marketable form, or other obligation deemed appropriate by the Bank to ensure repayment of the STILF loan. A credit review of the local governmental unit and report by the Executive Director will be taken into consideration by the Bank.

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