Ala. Admin. Code r. 335-15-7-.27

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

Section 335-15-7-.27 - Pre-award Costs

(1) The Department shall not award loan assistance for costs incurred prior to the award of the Fund loan for the project.

(2) If the Department approves preliminary cleanup activities prior to loan closing, such approval is not an actual or implied commitment of Fund loan monies and the public body proceeds at its own financial risk. The public body shall receive cost reimbursement of approved activities only upon execution of a binding loan agreement.

Ala. Admin. Code r. 335-15-7-.27

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-2, 22-30F-4.