Iowa Admin. Code r. 661-259.206 - Eligibility requirements and restrictions
(1) Any local fire department in the state of
Iowa is eligible to apply for a loan.
(2) Loan applicants shall be required to
provide a 10 percent match.
(3) All
successful loan applicants shall comply fully with the fire incident reporting
requirements of the state fire marshal division.
(4) No loan shall be made to a local fire
department serving a population in excess of 30,000 people which will result in
excess of 50 percent of the total funds loaned at any given time being loaned
to local fire departments serving populations in excess of 30,000 people,
unless the state fire marshal finds that there are no eligible applications
pending from local fire departments serving populations of 30,000 people or
less.
(5) Following approval, loan
funds will be provided only after the local fire department receiving the loan
submits documentation showing that the department has either acquired,
contracted for, or issued a purchase order for the equipment. Disbursement of
the loan shall be in the form of a warrant payable either to the local fire
department and the vendor or vendors supplying the equipment or repair
services, or solely to the vendor or vendors, or, with the approval of the
state fire marshal, solely to the local fire department receiving the
loan.
(6) A local fire department
is eligible for only one loan during any five-year period or for the duration
of an existing loan from this program, whichever is longer.
(7) A local fire department that has been in
default on a loan is not eligible for additional loans through this program for
a period of two years beyond the time specified in subrule 259.206(6). Any
prior history of defaulting on a loan from the revolving loan fund will be
taken into account in evaluating a department's ability to repay a loan,
pursuant to subrule 259.204(3), paragraph"b. "
(8) A local fire department receiving a loan
is subject to a financial audit and any operational or program audits necessary
to verify compliance with any requirements or conditions of the loan.
Notes
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