Iowa Admin. Code r. 761-923.1

Current through Register Vol. 47, No. 8, October 30, 2024

Rule 761-923.1 - General information

(1)Scope of chapter. The general assembly appropriated money from the petroleum overcharge fund to the department to be used as a revolving loan fund for transit capital purchases by public transit systems. The revolving loan fund will enable public transit systems to obtain the matching funds required to qualify for capital purchases under state or federally funded projects. The fund will provide multiyear interest-free loans to public transit systems to allow faster capital acquisitions. Loan recipients shall be required to demonstrate ability to repay the loan from budgeted funds or revenues.

(2)Information. Requests for information about and for assistance with the preparation and submission of loan requests should be directed to the Public Transit Bureau, Iowa Department of Transportation, 800 Lincoln Way, Ames, Iowa 50010; telephone (515)233-7870. Information is also available on the department's website at www.iowadot.gov.

Amended by IAB March 14, 2018/Volume XL, Number 19, effective 4/18/2018

Amended by IAB March 10, 2021/Volume XLIII, Number 19, effective 4/14/2021