1. (a) General. The board will assess charges for the purpose of recovering administrative costs of all projects receiving DWSRF loan assistance, except those projects or portions of projects which receive subsidies in the form of forgiveness of loan principal pursuant to §371.24 of this title (relating to Disadvantaged Community Program through Loan Subsidies) and which receive binding commitments after the effective date of this section.
2. (b) Payment Method. Recipients of loan commitments made after the effective date of this section will utilize the payment method as provided in subsection (c) of this section.
3. (c) Loan Origination Charge. A loan origination charge will be assessed of 2.25% of the DWSRF loan amount, excluding the amount of the origination charge. The loan origination charge is a one-time charge that is due and payable at the time of loan closing. The loan origination charge may be financed as a part of the DWSRF loan.
4. (d) DWSRF Administrative Cost Recovery Fund. Charges collected according to this section shall be deposited into the DWSRF Administrative Cost Recovery Fund.
5. (e) Use of Fund. Monies deposited into the Administrative Cost Recovery Fund shall be used only for administration of the DWSRF program, unless transferred pursuant to subsection (f) of this section.
6. (f) Transfer of Funds. Subject to subsection (e) of this section, the board may authorize transfer of funds from the DWSRF Administrative Cost Recovery Fund into the DWSRF Program Account and the transferred funds may be used for any purpose for which other funds in the DWSRF Program Account can be used.
7. (g) Investment of Funds. Monies in the DWSRF Administrative Cost Recovery Fund shall be invested in authorized investments as provided by board order, resolution, or rule.

Source Note:The provisions of this §371.22 adopted to be effective August 6, 1997, 22 TexReg 7057; amended to be effective February 5, 1998, 23 TexReg 784; amended to be effective September 5, 2000, 25 TexReg 8738.