Okla. Admin. Code § 785:50-9-22

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

Section 785:50-9-22 - Revenue program

(a) The applicant must demonstrate that it has legal, institutional, managerial and financial capability to construct, operate and maintain the treatment works. The applicant will be, required to establish a user charge system which will generate sufficient revenues for the operation, maintenance (including reasonable replacement cost) and to establish an acceptable dedicated source or sources of revenue to repay the loan.

(b) As indicated, the applicant will be required to demonstrate, at the time of the actual application, that a "dedicated" source of revenue is available to repay the loan. Revenue will be considered dedicated when the recipient passes an ordinance or a resolution committing a source or sources of funds for repayment. The resolution or ordinance dedicating a source of funding for repayment of the loan must be adopted before finalization of the loan agreement.

Added at 10 Ok Reg 3333, eff 7-1-93