Kan. Admin. Regs. § 36-40-5 - Financial assistance agreement requirements
Each financial assistance agreement entered into pursuant to the act shall meet the following requirements:
(a) The financial assistance shall not exceed
the total cost of the approved project.
(b) The term of any financial assistance
shall not exceed the design life of the approved project or 20 years, whichever
is less.
(c) If any debt service
is required, it shall be guaranteed by the applicant in a manner consistent
with the applicant's approved application.
(d) The financial assistance agreement shall
contain the following sentences:
(1) "All
work performed and all materials furnished for the approved project shall be in
reasonably close conformity with the plans, specifications, and revisions,
which have been approved by the designer of the approved project."
(2) "Technical advice or assistance, or both,
provided by the secretary to an applicant pursuant to
K.S.A.
75-5068(c), and amendments
thereto, shall not be construed as an undertaking by the secretary of the
duties of the applicant or the approved project's owner, or both, or the duties
of any consultant, licensed professional engineer, or inspector hired by the
applicant or the approved project's owner."
Notes
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