Ill. Admin. Code tit. 35, § 886.605 – Loan Repayment to the Agency | Midpage
§ 886.605
Ill. Admin. Code tit. 35, § 886.605
Loan Repayment to the Agency
AUTHORITY: Implementing and authorized by Section 58.15 of the Environmental Protection Act [415 ILCS 5/58.15].ENVIRONMENTAL PROTECTION AGENCY
a) Loan repayment shall commence within 12 months after the initial disbursement of funds by the Agency.
b) The Agency shall set a principal amount and give the loan recipient an interim repayment schedule.
c) After a final cost review of the project, the Agency shall establish the final principal amount and give the loan recipient a final repayment schedule.
Loan repayment to the Agency shall be in accordance with the loan repayment provisions contained in the loan agreement.