Okla. Admin. Code § 252:633-3-8

Current through Vol. 41, No. 19, June 17, 2024

Section 252:633-3-8 - Types of assistance

(a)Conditions. The DWSRF may be used for the following purposes if:

(1) The applicant is the approved legal management agency;

(2) The project is included on the state's inventory of public water supplies, or meets the definition of a public water supply as defined in 27A O.S. §2-6-101;

(3) The project is listed on the Project Priority List following a request to the DEQ for placement on the list;

(4) The applicant has complied with these rules and the project has been approved by the DEQ; and

(5) The project has approved plans and specifications and a construction permit has been issued by the DEQ.

(b)Loans. The DWSRF may be used to make loans if:

(1) Loans are made at or below market interest rates, including interest free loans at terms not to exceed the federal requirement;

(2) Principal and interest payments will commence not later than one year after project completion and all loans will be fully amortized for the length of the loan after project completion; and

(3) The recipient of a loan will establish a dedicated source of revenue for repayment of loans.

(c)Refinance. The DWSRF may be used to buy or refinance the debt obligation of eligible applicants at or below market rates, when such debt obligations were incurred and construction started after July 1, 1993.

(d)Insurance. The DWSRF may be used to guarantee or purchase insurance for the applicant's local debt.

(e)Revenue. The DWSRF may be used as a source of revenue or security for payment of DWSRF debt obligations.

(f)Interest. The DWSRF may be used to earn interest on fund accounts.

(g)Appropriate uses. The DWSRF may be used for other purposes or in a manner as is determined by OWRB to be an appropriate use of the DWSRF and has been specifically approved by EPA pursuant to the federal Safe Drinking Water Act Amendments of 1996.

Okla. Admin. Code § 252:633-3-8

Added at 14 Ok Reg 1139, eff 3-18-97 (emergency); Added at 14 Ok Reg 1690, eff 6-2-97; Amended at 15 Ok Reg 1957, eff 6-1-98; Amended at 25 Ok Reg 1140, eff 7-1-08