Ariz. Admin. Code § 18-15-905

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

Section R18-15-905 - Long-Term Water Augmentation Fund Application Review For Financial Assistance

A. After an opportunity for public comment, the Board shall consider the Long-Term Water Augmentation Committee's recommendations and make a determination regarding applications for financial assistance at a public meeting. The Board shall base this determination on the information provided in the application, analysis prepared by the Authority, recommendation of the Long-Term Water Augmentation Committee; 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.

B. The opportunity for public comment required under subsection (A) does not need to be at the same meeting in which the Board makes its determination regarding the applicant's request for financial assistance.

C. The Board may require an Applicant to provide additional information before making a determination regarding a request for financial assistance.

D. The Board may award financial assistance to an application regardless of the recommended order and priority of applications, provided the Board documents the specific justifications for the action taken during a public meeting.

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 with pending applications. The Board shall determine the amount of funding available, if any, to make available for the remaining applications received under a given funding cycle. The Board shall make a determination as described in subsection (C) on each application until the available funds are committed.

F. Upon approval of an application, the Authority shall prepare an agreement for execution by the applicant and the Authority. The terms of the agreement shall be determined by the Authority.

Ariz. Admin. Code § R18-15-905

New Section made by final expedited rulemaking at 30 A.A.R. 1982, effective 5/7/2024.