Ala. Admin. Code r. 335-15-7-.21

Current through Register Vol. 43, No. 1, October 31, 2024

Section 335-15-7-.21 - Authority Disbursement

Disbursement of Fund loan monies shall be made at intervals as work progresses and expenses are incurred, but at no greater frequency than monthly. In no event shall disbursement exceed the allowable costs that have been incurred at that time. No disbursement shall be made until the Department receives satisfactory cost documentation which shall include all forms and information required by the Department and completed in a manner satisfactory to the Department. Should the recipient be receiving Fund loan monies for expenditures incurred prior to the award of the Fund loan, the disbursement schedule shall be as indicated in the Fund loan agreement.

Authors: Aubrey H. White, Lawrence A. Norris

New Rule: Filed October 21, 2004; effective November 25, 2004.

Statutory Authority:Code of Ala. 1975, §§ 22-30F-2, 22-30F-4.