Ariz. Admin. Code § 18-15-405

Current through Register Vol. 30, No. 50, December 13, 2024

Section R18-15-405 - Water Supply Development Revolving Fund Application Review for Financial Assistance

A. The Authority shall evaluate and summarize each application for financial assistance received and develop an analysis that provides recommendations to the Board. The analysis shall include:

1. The scope, size, and budget of the proposed project, including as much cost detail as possible;

2. A summary of the applicant's legal capability including authorization to enter into long-term indebtedness and to pledge the specified dedicated revenue source for repayment;

3. A summary of the applicant's technical capability, including its ability to construct, operate and maintain the proposed project;

4. A summary of the applicant's managerial capability, including the experience of elected officials and management team in managing similar organizations and similar projects;

5. A summary of the applicant's financial capability, including:

a. The amount of money collected through the dedicated revenue source for repayment for each of the previous five financial operating years (fiscal or calendar):

b. An estimate of the amount of money that will be collected through the dedicated revenue source for repayment for the current financial operating year (fiscal or calendar): and

c. A projection of the amount of money that will be collected through the dedicated revenue source for repayment for each of the next five financial operating years (fiscal or calendar);

6. A summary of any previous assistance provided by the Authority to the applicant;

7. A summary of the applicant's ability to meet any applicable permitting and environmental requirements imposed by federal, state, or local agencies;

8. A recommendation of what type and amount of financial assistance to provide; and

9. Any other information deemed necessary by the Authority.

B. If any of the required information listed in subsection (A)(5) is not available, the Authority may assist the applicant in determining alternative documentation to support the applicant's financial capability.

C The Board shall make a determination regarding the applicant's request for financial assistance at a public meeting. The Board shall base this determination on the information provided in the application, the analysis prepared by the Authority, and any other information provided at the public meeting. The Authority shall inform the applicant of the Board's determination, which may include recommended modifications to any of the following:

1. The scope of the proposed project;

2. The applicant's legal structure and organization;

3. The dedicated revenue source for repayment; or

4. The structure of the financial assistance request.

D. The Authority shall provide an opportunity for public comment prior to the Board's determination regarding the applicant's request for financial assistance. The opportunity for public comment does not need to occur at the same meeting in which the Board makes its determination regarding the applicant's request for financial assistance.

E. If the Board determines at any time during a funding cycle that funds are limited or are not available to provide financial assistance, the Authority shall notify applicants on the current Water Supply Development Revolving Fund Project Priority List that the Authority is no longer accepting applications. The Board shall determine the amount of funding available, if any, to provide financial assistance for the applications by the Authority. The Board shall consider each application in the order the project appears on the current Water Supply Development Revolving Fund Project Priority List. The Board shall make a determination as described in subsection (C) on each application until the available funds are committed.

F. Upon approval of the applicant's request for financial assistance, the Authority shall prepare a financial assistance agreement for execution by the applicant and the Authority.

Ariz. Admin. Code § R18-15-405

New Section made by final rulemaking at 16 A.A.R. 1709, effective October 9, 2010 (Supp. 10-3). Renumbered from R18-15-407 by final rulemaking at 24 A.A.R. 239, effective 3/11/2018. Amended by final expedited rulemaking at 30 A.A.R. 1982, effective 5/7/2024.