1. (a) General. The board will assess charges for the purpose of recovering administrative costs of all recipients of CWSRF financial assistance who receive commitments after the effective date of this section, except those disadvantaged communities which are designated as provisional or partially funded projects under §375.407(c) and (d) of this title and those projects which are placed below the funding line as provisional projects in a special capitalization grant intended use plan in order to fund other projects necessary to meet specified funding requirements in a special capitalization grant under §375.407(c) of this title.
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 the CWSRF loan amount, excluding the amount of the origination charge, except for those loan amounts for disadvantaged communities which are designated as provisional or partially funded projects under §375.407(c) and (d) of this title and those projects which are placed below the funding line as provisional projects in a special capitalization grant intended use plan in order to fund other projects necessary to meet specified funding requirements in a special capitalization grant under §375.407(c) of this title. The loan origination charge is a one-time charge that is due at the time of loan closing. The loan origination charge may be financed as a part of the CWSRF loan.
4. (d) Administrative cost recovery fund. Charges collected according to this section shall be deposited into the administrative cost recovery fund.
5. (e) Use of funds. Monies deposited into the administrative cost recovery fund shall be used only for administration of the CWSRF 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 administrative cost recovery fund into the CWSRF program account to be used for any purpose for which other funds in the CWSRF program account can be used.
7. (g) Investment of funds. Monies in the administrative cost recovery fund shall be invested in authorized investments as provided by board order, resolution, or rule. In the event of early payoff of a loan, all remaining servicing charges calculated in this subsection must be paid in full at the time of the payoff.

Source Note:The provisions of this §375.18 adopted to be effective February 11, 1999, 24 TexReg 769; amended to be effective February 16, 2010, 35 TexReg 1286.