Okla. Admin. Code § 785:50-7-1

Current through Vol. 42, No. 7, December 16, 2024

Section 785:50-7-1 - General procedures

(a)General procedures. The general procedure to be followed in the financial assistance application, review and consideration process for financial assistance under the water and sewer program authorized by 82 O.S., §§1085.31 through 1085.49 shall be as follows:

(1)Pre-application conference.

(A) While not specifically required, all potential applicants are encouraged to initially contact the Board for purposes of making arrangements for participating in a pre-application conference between Board staff, applicant (or representative), applicant's legal, financial, engineering advisors, and such other persons whose attendance and participation may be deemed appropriate and beneficial.

(B) At the pre-application conference, preliminary matters respecting the applicant, the proposed project and the application for assistance may be generally discussed in an effort to familiarize all concerned parties with the financial assistance program and applicable application requirements and procedures.

(2)Application.

(A) Applicant shall initiate application review and consideration by submission to the Board of applicant's application for financial assistance.

(B) In all instances, applications must be written and in a form which meets the requirements of Sub-chapter 5.

(3)Submittal to Board. Upon completion of staff review, the submitted application (with staff recommendations, if any) shall be placed upon the Board's agenda for the next regular (or special) Board meeting and shall be thereby submitted to the Board for action as described in (b) below.

(b)Board action.

(1) After reviewing and considering the submitted application, the Board may proceed to take one of the following alternative forms of Board action on the application:

(A) The Board may approve and grant the application as submitted, in whole or in part, and thereby authorize such further action as may be necessary to effectuate loan closing and/or the disbursement of funds.

(B) The Board may retain the application under advisement for further consideration or continue hearing on same for later ruling and disposition, and, the Board may withhold ruling on the application pending further hearing and/or submission to the Board of such further or additional information as the Board may require for application consideration purposes.

(C) The Board may reject and deny the application, in whole or in part.

(D) The Board may approve and grant the application, in whole or in part, such approval being conditioned and contingent upon the existence of adequate and available loan and/or grant funds or conditioned and contingent upon receipt and approval by Board staff of any outstanding and necessary material, information, documents, verifications or other authorization.

(2) Upon approval and grant of an application, the Board may authorize loan closing and the execution of all necessary closing documents and instruments by the Chairman of the Board, or other designated Board member, and may accordingly authorize and provide for disbursements and may authorize such further or additional action as may be necessary to complete and implement the approved transaction.

Okla. Admin. Code § 785:50-7-1

Amended at 12 Ok Reg 2715, eff 7-1-95; Amended at 15 Ok Reg 2881, eff 7-1-98

Amended by Oklahoma Register, Volume 31, Issue 24, September 2, 2014, eff. 9/12/2014

Amended by Oklahoma Register, Volume 35, Issue 24, September 4, 2018, eff. 9/14/2018