Rule 11-6-5.2 - Program RequirementsA. Eligible Applicant Determination. To be eligible for financial assistance, an applicant must meet the definition of an eligible applicant as described in Rule 5.1.B.(14) of these regulations, as determined by the Department.B. WPCELF Uses. The Emergency Loan Fund may be used for the following purposes, as determined by the Commission: (1) To make loans to eligible applicants for projects that meet the definition of an emergency, for the purpose of making necessary repairs to existing water pollution control systems to meet the emergency;(2) To make loans to eligible applicants for projects that meet the definition of an emergency, for the purpose of completing construction needed to provide a permanent correction to the problems which caused the emergency;(3) For the reasonable costs of administering the WPCELF program, as allowed by state law; and(4) To earn interest on fund accounts.C. Project Priority. These funds will be obligated on a first-come, first-served basis in order of those eligible applicants which complete all actions necessary to receive a loan award for eligible projects meeting the definition of an emergency, as defined in these regulations. The Executive Director will determine whether a proposed project meets the definition of an emergency project and whether all actions necessary for loan award have been completed.
D. WPCELF Financing. The WPCELF has been established to provide loans to assist eligible applicants in making emergency repairs to existing water pollution control systems and may, with Department approval, include new construction needed to provide a permanent correction to the problems which caused the emergency. Basic WPCELF financing requirements are as follows: (1) WPCELF loans may not exceed $350,000, as established by state law(2) Loans will be made at the interest rate(s), terms and amounts determined by the Commission, and as further established in the WPCELF loan agreement and repayment agreement.(3) Periodic principal and interest repayments will commence as further described in Rule 5.3.F of these regulations, and all loans will be fully amortized not later than ten (10) years after project completion.(4) Funds will not be disbursed from the emergency loan fund without first entering into a legal and binding loan agreement with the Commission.(5) The fund will be credited with all repayments of principal and interest on all loans.(6) The applicant must not be in violation of, or delinquent on, any provisions of a previously awarded WPCELF, WPCRLF, or WPALP loan agreement.(7) The applicant must submit a completed application and must, in a timely manner, secure approvals of all documents required by the Department.(8) The applicant must establish a dedicated source of funds for repayment of the loan.E. Responsibility. The applicant/loan recipient is responsible for the proper planning, design, construction, operation, maintenance, replacement, performance, and fiscal integrity of the project. The Department's review or approval of any document does not relieve the applicant/loan recipient or any others of any liabilities or responsibilities. Department review or approval of any document is for loan eligibility/allowability purposes only and does not establish or transfer any such liability or responsibility.F. Other Approvals. The applicant/loan recipient must obtain approval of all necessary documents from each state, local, and federal agency having jurisdiction over or funding in the project, if so required by that agency. Miss. Code Ann. §§ 49-17-81 through 49-17-89, 49-2-1, et seq. and 49-17-1, et seq.