PURPOSE: This rule establishes policies and procedures for the operation of the Loan Interest-Share Program. Editor’s Note: Forms mentioned in this rule follow 10 CSR 70-7.150. (1) Application for Participation. A potential program participant may apply for assistance through the Loan Interest-Share Program on forms available in the district office. The application, accompanied by associated cost information, a lender agreement-in-principle of participant eligibility for a loan and anticipated soil erosion benefits, shall be forwarded to the commission for consideration. (2) Eligible Costs. Eligible costs shall be those actually incurred by the program participant in the installation, construction or implementation of requested projects and practices. Estimates of actual costs shall be based upon cost information available to the district in coordination with the participant and his/her lender. (3) Reimbursement Procedures. Annually, upon receipt of district and technical certifmation of proper operation and maintenance of projects and practices, accompanied by lender verification of annual interest payment, the commission shall forward to the participant the appropriate interest-share amount as stipulated in 10 CSR 70.7.150(5).

Auth: section278.080, RSMo (1986). This rule was previously filed as 10 CSR 70-5.130. Original rule filed July 12,1985, effective Nov. 15, 1985. Amended: Filed Oct. 29,1987, effective Feb. 17,1988.