Plain Text Law

Regulation .08 Conditions of Loan Agreements.

Regulation .08 Conditions of Loan Agreements.Copy Citation

Loan agreements shall include:
A.
Specification of the purpose, amount, manner of repayment, and other conditions required by the Board of Public Works;
B.
The obligation of the applicant to:
(1)
Construct, install, and operate the pretreatment project in a manner which ensures compliance with pretreatment requirements and technical specifications;
(2)
Maintain the project for its expected life span;
(3)
Bind a successor in interest;
C.
On loans over $2,500, a granting to the State of a security interest specified by the Department of the Environment in equipment, structures, or property purchased in whole or part with State monies.