Wyo. Code R. 060-0003-11 – Clean Water State Revolving Fund Loans

Lands and Investments, Office of

Loan and Investment Board

Chapter 11: Clean Water State Revolving Fund Loans

Effective Date: 02/06/1998 to 07/03/2002

Rule Type: Superceded Rules & Regulations

Reference Number: 060.0003.11.02061998

RULES AND REGULATIONS

STATE LOAN AND INVESTMENT BOARD

Chapter 11 Clean Water State Revolving Fund Loans

Section 1. Authority.

This Chapter is adopted pursuant to W. S. 16-1-203(a).

Section 2. Definitions.

(a) “Account” means the loan account created by W. S. 16-1-202.
(b) “Board” means the State Loan and Investment Board.
(c) “DEQ” means the Wyoming Department of Environmental Quality.
(d) “Director” means the Director of the Office of State Lands and Investments.
(e) “Office” means the Office of State Lands and Investments.
(f) “Handbook of Procedures” means the State Water Pollution Control

Revolving Loan Account Handbook, Section 212.

Section 3. General Policy.

(a) The Board shall extend loans under the provisions of this chapter in such a manner and to such applicants as shall, in the judgment of the Board, inure to the greatest benefit of the citizens of the state and represent a prudent use of loan funds.

Section 4. Loan Eligibility.

(a) Applicants. Municipalities, counties, state agencies, and joint powers boards shall be eligible for loans under this chapter. If the applicant is a joint powers board, it must be legally formed and approved prior to loan application.

(b) Purposes. Loans may be extended only for water pollution control purposes specified under W. S. 16-1-205 (a).

(c) Project Eligibility. Only projects on the current DEQ construction grants/staterevolving fund program priority list that are incorporated into the DEQ Intended Use Plan are eligible for loans under this chapter.

Section 5. Application Procedure.

(a) Applications. Separate applications shall be prepared for each project or program. Applicants shall submit a completed application on a form provided by the Director as outlined in the Handbook of Procedures. (b) Timing of Board Consideration. The Board shall consider applications for loans under this Chapter at any official meeting of the Board. (c) Preliminary Review. Within 45 days of receipt of any application, the Director shall notify the applicant, in writing, if the application lacks any of the information required. (d) Incomplete Applications. Incomplete applications shall not be presented to the Board for consideration.

Section 6. Evaluation.

(a) Criteria. The Board shall evaluate applications utilizing the following criteria:

(i) Whether the applicant is current on all its repayment obligations to the Board;

(ii) Whether the applicant's dedicated source of revenue will be sufficient to repay the

loan;

(iii) Whether the applicant is ready to proceed with construction or implementation of

the project;

(b) Interagency Consultation. The Board shall request that pertinent state agencies review the applications and provide comments to the Director for Board consideration. The Board shall request the DEQ to provide the services required under W. S. 16-1-201 through W. S. 16-1-207.

Section 7. Board Consideration.

(a) The Board shall consider each application, allow for comments from the applicant and from the Director and establish the amount of the loan and the term of the loan. The term shall not exceed 20 years.

Section 8. Interest Rates.

(a) Loans to the DEQ for corrective actions at leaking underground storage tank sites shall be pursuant to Chapter 14 of the rules as established by the Board. (b) The interest rate for loans to all other applicants shall be pursuant to Chapter 14 of the rules as established by the Board.

Section 9. Repayment.

(a) Annual payments for all loans shall begin one year after completion of the project as indicated in the final project contract.

Section 10. Disbursement of Loan Proceeds.

(a) The loan proceeds shall be disbursed in minimum draws of $1,000 in accordance with a schedule that has been agreed upon and stipulated in the loan agreement. Requests for disbursements shall be submitted on a form provided by the Director. Requests for disbursements shall only be for project costs which have been incurred and shall be subject to review by the DEQ.

Section 11. Audits and Inspections.

(a) The Board may, at its expense, conduct an audit of the records of the applicant and inspect the construction and operation of the project. Borrowers shall maintain project accounts in accordance with generally accepted government accounting standards.

Section 12. Reports.

(a) The Director shall review all reports prepared by DEQ for submission to the U. S. Environmental Protection Agency.

Section 13. Funds Reserved.

(a) Four percent (4%) of the federal capitalization grants shall be reserved to pay administrative costs of this program incurred by the Office and DEQ.

Section 14. Program Compliance.

(a) The Board shall administer the water pollution control revolving loan account program in accordance with all applicable federal laws and regulations. The Board shall enter into a Memorandum of Understanding with the DEQ to implement the program and facilitate program compliance.