Utah Admin. Code R309-705-10 - Committal of Funds and Approval of Agreements
(1) The Executive Secretary, or designee, may
execute the loan agreement, credit enhancement agreement, or interest buy-down
agreement when the following are complete:
(i) all financial assistance authorization
conditions, 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; and
(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) 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.
Notes
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