Ala. Admin. Code r. 335-15-7-.03

Current through Register Vol. 43, No. 1, October 31, 2024

Section 335-15-7-.03 - Definitions

The following words and terms, when used in this Chapter, shall have the following meanings unless the context clearly indicates otherwise.

(a) "Act" means the Alabama Land Recycling Authority Act.

(b) "Allowable costs" are those costs that are eligible, reasonable, necessary, and allocable to the project; permitted by generally accepted accounting principles; and approved by the Department in the Fund loan agreement.

(c) "Authority" means the corporation organized pursuant to the provisions of the Act as a public corporation, agency and instrumentality of the State and known as the Alabama Land Recycling Finance Authority.

(d) "Authorizing resolution" means a resolution or order adopted by the Board of Directors of the Authority authorizing the issuance of agreements and related matters.

(e) "Board of Directors" means the Board of Directors of the Alabama Land Recycling Finance Authority, consisting of the Governor, Lieutenant Governor, Speaker of the House of Representatives, Director of the Alabama Department of Environmental Management, and Director of Finance.

(f) "Bonds" means revenue bonds, notes or obligations or other evidence of indebtedness issued by the Authority under the provisions of the Act.

(g) "Bond proceeds" means the direct proceeds of the sale of bonds or notes, and the income derived from the investment of such proceeds.

(h) "Certified mail" means any means of delivery where proof of receipt is obtained and date of receipt is recorded.

(i) "Eligible property" means property which qualifies under 335-15-2-.01 for participation in the voluntary cleanup program, and which is owned and operated by a loan applicant or loan applicants which qualify for the limitations of liability as described in 335-15-4-.02.

(j) "Federal Comprehensive Environmental Response, Compensation, and Liability Act" (CERCLA) means the Act of Congress so designated (42 U.S.C. s/s 9601 et seq. 1980), as amended from time to time.

(k) "Federal grant" means a grant awarded pursuant to CERCLA for the purpose of capitalizing an Alabama Land Recycling Revolving Loan Fund and any amendments or supplements thereto.

(l) "Fund" means the Alabama Land Recycling State Revolving Fund established pursuant to Section 22-30F-4 of the Act.

(m) "Fund loan" means a loan from the Alabama Land Recycling Revolving Loan Fund for the allowable costs of a project.

(n) "Fund loan agreement" is the legal instrument executed between the Authority and the public body for the remediation of contaminated property.

(o) "Loan applicant" means any public body which applies for a Fund loan pursuant to the provisions of these rules and regulations.

(p) "Local governmental unit" means a city, town, county, district, association, State agency, or other public body (including an inter-municipal agency of two or more) of the foregoing entities created under State law.

(q) "Project priority list" means the list developed by the State in conformance with the Federal Comprehensive Environmental Response, Compensation, and Liability Act of 1972 (33 U.S.C. 1251 et al.), and any amendatory or supplementary acts thereto.

(r) "Project" means projects eligible for assistance from the revolving loan fund as certified to the Authority by the Department, including, without limitation, the following:

1. Assessment and investigation of eligible property pursuant to Code of Ala. 1975, § 22-30E-9(b).

2. Cleanup of eligible property pursuant to Code of Ala. 1975, § 22-30E-9(c).

3. Any expenditure of a type or category determined by the Authority or the Department to be of such nature as will facilitate the timely assessment, cleanup, and subsequent redevelopment and return to productive use of an eligible property.

(s) "Public body" includes each county, state agency, incorporated city or town, public corporation, district, cooperative, association, authority or instrumentality thereof created by or pursuant to state law, including also a combination of two or more of the foregoing.

(t) "Recipient" means any local governmental unit, which has received a Fund loan pursuant to this Chapter.

(u) "Revolving loan fund" or "Alabama Land Recycling Revolving Loan Fund (ALFFLF)6 means a low interest loan program intended to finance remediation of contaminated brownfield sites in Alabama.

(v) "Substantial alteration" means any change, which results in an alteration of the project costs, or a change of 90 days or more in the project schedule.

Ala. Admin. Code r. 335-15-7-.03

New Rule: Filed October 21, 2004; effective November 25, 2004.

Amended by Alabama Administrative Monthly Volume XXXVIII, Issue No. 05, February 28, 2020, eff. 4/13/2020.

Authors: Aubrey H. White, Lawrence A. Norris, Vernon H. Crockett; Sonja B. Favors; Anna M. Ennis

Statutory Authority:Code of Ala. 1975, §§ 22-30F-3, 22-30F-4.