1. (1) The Executive Secretary, or designee, may execute the loan agreement, credit enhancement agreement, or interest buy-down agreement when the following are complete.

   1. (i) All financial assistance authorization conditions, as outlined in the Authorization Letter sent to the recipient, have been met; including Division approval of all submitted legal documents and other items required by this rule.

      1. (ii) The recipient has received written plan approval of the engineering plans and specifications for the authorized project from the Division of Drinking Water.
2. (2) If the approved scope of work has changed significantly since the Board's initial authorization, the Board shall review the modified project scope of work to determine if it meets the Board's requirements. If satisfied, the Board shall authorize the Executive Secretary, or designee, to proceed with executing the loan agreement, credit enhancement agreement or interest buy-down agreement.

KEY: financial assistance, loans, interest buy-downs, credit enhancements, hardship grants

Date of Last Change: May 22, 2023

Notice of Continuation: February 10, 2025

Authorizing, and Implemented or Interpreted Law: 19-4-104; 73-10c; 73-10g-5