Section 312 IAC 27-3-4 - Consideration of priority ratingsAuthority: IC 14-10-2-4; IC 14-28-5-6
Affected: IC 14-28-5-11
Sec. 4.
(a) The department shall consider and act upon each application for a loan in the order an application is received.(b) As soon as practicable after an application is received, the department shall inform the applicant whether the application is complete. (1) If the department determines an application is not complete, the applicant shall be provided at least twenty (20) days to complete the application.(2) If the application is: (A) resubmitted within the period provided by the department; and(B) determined by the department to be complete as resubmitted; the application shall be considered served on the day originally submitted.(3) If the application is not: (A) resubmitted within the period provided by the department; or(B) deemed to be complete on resubmission; the application shall be considered denied.(4) A denial under this subsection does not prohibit an applicant from serving a new application for the same purpose.(c) If more than one (1) application is received by the division on the same day and a sufficient balance is not present in the fund to cover each application received on this day, the department shall rank and prioritize the applications as provided in IC 14-28- 5-11 and this rule as follows: (1) Addressing an emergency shall be given the first priority.(2) Repairing an existing facility shall be given secondary priority.(3) Beginning new construction shall be given third priority.(4) Proposals to fund planning, engineering, administration, or legal expenses shall be given fourth priority.(5) Any other purpose shall be given fifth priority.(d) The local unit seeking a loan for the highest priority shall be given first consideration under this article. If a sufficient balance remains after funding the highest priority, the department may make an additional loan or loans in the descending order of the priority ratings.(e) Except as provided in this subsection, the department shall not approve a loan to a local unit to satisfy, in whole or in part, a previously existing indebtedness. A loan may be approved to satisfy indebtedness caused by repairs to existing facilities or by construction, during an emergency requiring immediate relief from actual or threatened flood damage, if the emergency occurred within one hundred eighty (180) days preceding the date of the application.Natural Resources Commission; 312 IAC 27-3-4; filed Jan 6, 2010, 4:12 p.m.: 20100203-IR-312090199FRA