- (a) Exceptional disaster loan funds pursuant to the exceptional disaster loan program shall support activities to assist local governments with exceptional costs so they are able to repair damages due to a presidentially declared disaster. The per-occurrence cost of a local government’s critical disaster relief project or projects shall equal or exceed 25% of the amount raised by local property taxes in the local government’s last annual budget.
- (b) A local government shall not receive more than one exceptional disaster relief loan per declared federal disaster.
- (c) A local government shall not be obligated by more than 2 exceptional disaster relief loans.
Source. (See Revision Note at chapter heading for Saf-C 5900) #13168, 2-19-21