N.H. Admin. Code § Env-Wq 507.01 - Original Financial Assistance Agreement

(a) Following acceptance of an application from a governmental entity and upon determining that funds are available, the department shall prepare an original loan agreement (OLA) that contains the following provisions:

(1) The amount of funds being provided;

(2) The interest rate for the loan and the length of the repayment term;

(3) A description of the project;

(4) Authorization for representatives of the department and applicable federal agencies to examine any of the loan recipient's records that pertain to transactions relating to the loan agreement, construction contracts, engineering contracts, or other consulting contracts for the purpose of inspection, audit, and copying during normal business hours;

(5) A requirement for the recipient to develop and adhere to an asset maintenance and renewal plan for the funded improvements, if applicable; and

(6) Any other provision(s) required by state or federal law in order for the agreement to be valid.

(b) The department shall transmit the OLA to the recipient for review and if the recipient agrees with the terms, the recipient shall sign, date, and return the OLA to the department.

(c) Upon receipt of a signed OLA, the department shall sign the OLA and submit the OLA to the governor and executive council (G&C) for approval.

(d) If approved by the G&C, then:

(1) The OLA shall be effective upon approval by the G & C; and

(2) The department shall send a copy of the approved OLA to the recipient.

Notes

N.H. Admin. Code § Env-Wq 507.01

(See Revision Note #1 at chapter heading for Env-Wq 500) #8883, eff 5-8-07; (See Revision Note #2 at chapter heading for Env-Wq 500) ss by #9394, INTERIM, eff 3-1-09; ss by #9531, eff 8-26-09

Amended by Volume XXXV Number 49, Filed December 10, 2015, Proposed by #10984, Effective 12/1/2015, Expires12/1/2025. Amended by Number 2, Filed January 12, 2023, Proposed by #13511, Effective 12/20/2022, Expires 12/20/2032.