Section Env-Dw 1405.01 - Types of Assistance and Related Conditions(a) Financial assistance awarded by the department shall be one of the following: (2) A combination of a loan and loan forgiveness;(3) A combination of a loan and contingent reimbursement; or(4) A combination of a loan, loan forgiveness, and contingent reimbursement.(b) Loans awarded by the department shall be made only with the following conditions:(1) A loan shall have a term not to exceed the maximum number of years specified in the final application;(2) Principal and interest payments shall commence within: a. One year of substantial project completion for construction projects; orb. One year of loan closing for costs of O & M;(3) The recipient shall establish a dedicated source of revenue for repayment of the loan in accordance with Env-Dw 1404.08;(4) The recipient has completed all necessary documentation and agreements required by the department to issue a loan; and(5) The loan has been approved by the governor and executive council (G&C).N.H. Code Admin. R. Env-Dw 1405.01
Derived from Volume XLI Number 6, Filed February 11, 2021, Proposed by #13164, Effective 1/26/2021, Expires 1/26/2031.