Disbursement procedures for Water, Waste Disposal, and Pollution Abatement Facilities General Obligation Bond Program
Arkansas Code § 15-20-206
- (a) Unless otherwise provided and approved by the Director of the Arkansas Natural Resources Commission, the total amount of financial assistance funds authorized for disbursement to the applicant shall be released and disbursed to the trustee upon loan closing.
(b) The director may require the applicant to submit to the Arkansas Natural Resources Commission prior to any release or disbursement of funds by the trustee such:
- (1) Invoices;
- (2) Receipts;
- (3) Contracts;
- (4) Lien waivers;
- (5) Verifications;
- (6) Requisitions;
- (7) Evidence of expenditures or encumbrances;
- (8) Construction status and progress reports; or
- (9) Other information as the director may require.