1. (a) Reimbursement method of accessing funds. DWSRF financial assistance is available for disbursement under a reimbursement method unless the executive administrator approves the release of funds into an escrow account, a trust account or an investment pool at the closing on all or part of a loan or grant, as appropriate. The executive administrator shall reimburse the Applicants' expenditure upon the receipt of an outlay report supported by detailed invoices of expenditures or the executive administrator may issue a written authorization for the release of funds from an escrow account trust account or investment pool based on the receipt of outlay reports supported by detailed invoices of expenditures.

2. (b) Sequence of availability of funds. Financial assistance shall be available for disbursement in the following sequence:

   1. (1) for planning and permitting costs, after receipt of executed contracts for the planning or permitting phase, and after approval of a water conservation plan;
   2. (2) for design costs, after receipt of executed contracts for the design phase, after approval of an engineering feasibility report, and after the Board's approval of the environmental review; and
   3. (3) for construction costs, after issuance of any applicable permits, and after contract documents, including plans and specifications are approved and executed construction documents are contingently awarded.

3. (c) Outlay reports. Applicants shall submit outlay reports, in a form determined by the executive administrator, as follows:

   1. (1) at loan closing;
   2. (2) for financial assistance for planning, acquisition and design, quarterly; and
   3. (3) for financial assistance for construction, monthly.
4. (d) Environmental affirmation. Prior to the Board's approval of release of funds for design, the executive administrator shall summarize the project's environmental review and inform the Board of any environmentally related mitigation measures recommended for the project. The Board may elect to affirm or alter the conditions of the original commitment to the Applicant or withdraw the commitment to the Applicant.

Source Note:The provisions of this §371.72 adopted to be effective August 4, 2010, 35 TexReg 6680; amended to be effective October 26, 2010, 35 TexReg 9510.