Rule 560-11-2-.11 - Disbursements(1) Upon approval of an application by a county for financial assistance by the State under this program and the execution of a loan agreement by the county and the State Revenue Commissioner, the amount of the loan agreed upon will be set up to the credit of the county on the records of the State Revenue Commissioner. Disbursements by the State Revenue Commissioner under the loan agreement with the county will be made as follows:(a) Directly to the appraisal firms performing the work under an approved contract with the county.(b) Quarterly: On January 15, April 15, July 15, and October 15.(c) On the basis. and in the amount of itemized monthly billings presented by the appraisal firm to the county and approved for payment by the Board of Tax Assessors and the governing authority of the county and by the State Revenue Commissioner.(2) As these quarterly progress payments are made directly to the appraisal firm a charge will be made against the loan set up to the credit of the county, but in no event will these disbursements exceed the amount of the loan as provided in the contract between the county and the State Revenue Commissioner.(3) The State Revenue Commissioner shall withhold 10% of each quarterly progress payment pending satisfactory completion by the appraisal firm of all work and obligations under the contract.Ga. Comp. R. & Regs. R. 560-11-2-.11
Ga. L. 1937-38, Extra Sess., pp. 77, et. seq., as amended; Ga. Code Ann., Secs. 92-8405, 8406, 8409, 8427.
Original Rule was filed on June 30, 1965.