(1) The reserve fund required to be
established by the borrower under s.
(i), Stats., shall be deposited in an account
controlled by the authority.
a guarantee is required to be paid under the terms of an agreement entered into
between the authority and a participating lender, payment shall first be made
out of the account established under sub. (1). If payment is still required
under the terms of the agreement after the account established under sub. (1)
is depleted then payment shall next be made by the authority under the
guarantee established pursuant to s.
(a), Stats. If payment is still required
under the terms of the agreement after the guarantee established pursuant to s.
(a), Stats., is depleted then, the remaining
required payment shall be made under the guarantee established by the community
or another third party pursuant to s.
(3) All principal and interest in the account
established under sub. (1) that has not been required to be spent under sub.
(2) shall be returned to the borrower no later than 60 days after the loan has
been completely repaid.
Wis. Admin. Code Department of Administration § Adm 85.08
Cr. Register, January,
1992, No. 433, eff. 2-1-92.
correction in (2) made under s. 13.92(4) (b) 7., Stats.,
November 2018 No. 755, eff.
The hospital loan guarantee program manual may be obtained at
no charge from the Wisconsin Health and Educational Facilities Authority, 18000
W. Sarah Lane, Suite 300, Brookfield, WI