N.H. Code Admin. R. Env-Dw 1106.01

Current through Register No. 25, June 20, 2024

Section Env-Dw 1106.01 - Types of Assistance and Related Conditions

(a) Financial assistance shall be in one of the following forms:

(1) An original loan;

(2) The refinancing or purchase of pre-existing debt obligations;

(3) The guarantee or purchase of insurance for a local debt obligation; or

(4) Loan subsidies for disadvantaged communities, as described in 40 CFR §35.3525.

(b) Loans shall be made only with the following conditions:

(1) Interest shall be at or below the market rate in effect at the time of the loan for a term not to exceed 20 years, except a loan term of up to 30 years shall be allowed for disadvantaged communities provided the loan term does not exceed the expected design life of the project;

(2) Principal and interest payments shall commence not later than one year after project completion, in accordance with RSA 486:14, III and 40 CFR §35.3525;

(3) The recipient shall establish a dedicated source of revenue for repayment of the loan in accordance with Env-Dw 1104.09;

(4) An asset maintenance and renewal plan for the DWSRF-funded infrastructure project is developed and adhered to; and

(5) The conditions of (e), below, are met.

(c) The refinancing or purchase of pre-existing debt obligations shall be undertaken only with the following conditions:

(1) Interest shall be at a fixed rate at or below the market rate in effect at the time of the refinancing or purchase;

(2) Such obligations shall have been incurred and construction shall have started after July 1, 1993; and

(3) The conditions of (e), below, are met.

(d) The guarantee or purchase of insurance for the applicant's local debt obligation shall be undertaken only if the conditions of (e), below, are met.

(e) The DWSRF shall be used for the purposes listed in (a), above, only if the following conditions are met:

(1) The applicant is the legal owner of the water system;

(2) The water system for which the project is proposed is on the state inventory of public water systems;

(3) The proposed project is listed on the current project priority list; and

(4) If applicable, the project has approved plans and specifications and a construction approval issued by the department.

N.H. Code Admin. R. Env-Dw 1106.01

(See Revision Note at chapter heading for Env-Dw 1100) #8702, eff 8-24-06

Amended by Volume XXXV Number 06, Filed February 12, 2015 , Proposed by #10772, Effective 1/24/2015, Expires1/24/2025.