1. (a) The applicant shall establish:

   1. (1) For all projects that include more than just land acquisition, a schedule of user charges that is designed to generate sufficient revenues to cover operation and maintenance expenses as well as any allocable portion of capital improvements; and
   2. (2) A dedicated source or sources of revenue to repay the loan.
2. (b) For purposes of (a)(2), above, a revenue source shall be considered dedicated when the recipient passes or adopts an ordinance or other binding resolution committing the source of funds for repayment to the DWGTF.
3. (c) The applicant’s ordinance or other binding resolution dedicating a source of funding for repayment of the loan shall be in effect and binding on the applicant prior to the loan agreement taking effect.

4. (d) For an applicant that is a governmental entity, the verification required by Env-Dw 1303.02(b)(2) shall be made by:

   1. (1) Identifying the source of repayment;
   2. (2) Stating whether or not the applicant has existing debt outside the New Hampshire municipal bond bank and, if so, the amount of the debt and whether the debt is rated and, if the debt is rated, the rating; and
   3. (3) Certifying that the applicant has the financial capability to support both the project loan repayment and continuing operation and maintenance of its water system.

5. (e) For an applicant that is a non-governmental entity, the verification required by Env-Dw 1303.02(b)(2) shall be made by:

   1. (1) Identifying the source of repayment; and
   2. (2) Certifying that the applicant has the financial capability to support both the project loan repayment and continuing operation and maintenance of its water system.

Source. #12903, eff 10-23-19