N.M. Admin. Code § 20.7.6.7

Current through Register Vol. 35, No. 23, December 10, 2024

Section 20.7.6.7 - DEFINITIONS

As used in this part.

A."Administrative fee" means a fee assessed and collected by the department from the state agency or qualified borrower on each loan with an interest greater than zero percent and expressed as a percentage per year on the outstanding principal amount of the loan, payable by the borrower on the same date that principal and interest on the loan are due, for deposit in the clean water administrative fund.

B."Applicant" means a state agency or qualified borrower that meets the following criteria:

(1) placement on the current fiscal year priority list,

(2) financial capability to service a loan, to perform operation and maintenance, to maintain a replacement fund and debt service reserve fund, and

(3) readiness to proceed.

C."Borrower" means a state agency or qualified borrower whose application has been approved for eligibility and is ready to proceed to an interim loan agreement.

D."Commission" or "WQCC" means the New Mexico water quality control commission.

E."Department" or "NMED" means the New Mexico environment department.

F."Event of default" means the borrower failed to make the complete annual payment of principal, plus interest and administrative fee when the same shall become due and payable, as identified in the repayment schedule of the final loan agreement.

G."Final loan agreement" means a note issued by the borrower and the state upon completion of the project to document the permanent financing of the final loan amount in substantially the form as shown in the attachments.

H."Final loan amount" means the aggregate amount of the principal disbursed by NMED to the borrower during the project, together with accrued interest on the aggregate principal thereof.

I."Force account" means construction performed by the employees of a local authority rather than through a contractor.

J."Fund" or "SRF" means the state water pollution control revolving fund pursuant to Title VI of the Clean Water Act.

K."Interim loan agreement" means a note, in the form of a line-of-credit, issued by the borrower and the state at the beginning of the project in anticipation of the issuance of the final loan agreement upon completion of the project in substantially the form as shown in the attachments.

L."Loan issuance" means execution of the final loan agreement and revised promissory note.

M."Local authority" means any municipality, intermunicipal agency, county, incorporated county, water and sanitation district or any similar district, recognized Indian tribe, mutual domestic water consumers association as defined by the Sanitary Projects Act, or other issuing agency created pursuant to a joint powers agreement acting on behalf of any entity listed in this subsection.

N."Operate and maintain" means all necessary activities including replacement of equipment or appurtenances to ensure the dependable and economical function of a wastewater facility in accordance with its intended purpose.

O."Priority system" means the system for ranking eligible projects for which loan applications have been received pursuant to the Wastewater Facility Construction Loan Act.

P."Priority list" means the list of eligible projects ranked according to the priority system pursuant to the Wastewater Facility Construction Loan Act.

Q."Project" means the planning, design, construction, repair, extension, improvement, alteration, or reconstruction of the wastewater facilities or other eligible projects as listed in the Clean Water Act by the borrower as described in the loan application.

R."Project completion" means the date that the Department has procedurally determined that the project, phase, or segment is completed.

S."Project engineer" means the NMED staff engineer assigned to the project.

T."Qualified Borrower" means any credit worthy borrower with an identified and verifiable repayment source that is eligible for funding pursuant to the Clean Water Act.

U."State agency" means an agency or department of the executive branch of government.

V."Wastewater facility" means a publicly owned system for treating or disposing of sewage or wastes either by surface or underground methods, including any equipment, plant, treatment works, structure, machinery, apparatus or land in any combination, that is acquired, used, constructed or operated for the storage, collection, reduction, recycling, reclamation, disposal, separation or treatment of water or wastes, or for the final disposal of residues resulting from the treatment of water or wastes, such as pumping stations, facilities, plants and works, outfall sewers, interceptor sewers and collector sewers and other real or personal property and appurtenances incidental to their use or operation. "Wastewater facility" also includes a nonpoint source water pollution control or Brownfield redevelopment project as eligible under the Clean Water Act.

N.M. Admin. Code § 20.7.6.7

2-5-87; 10-22-88; 11-30-95; 20.7.6.7 NMAC - Rn, 20 NMAC 7.6.109 & A, 7/16/2000; A, 10/29/2007, Adopted by New Mexico Register, Volume XXVI, Issue 22, November 30, 2015, eff. 12/30/2015, Amended by New Mexico Register, Volume XXXI, Issue 05, March 10, 2020, eff. 3/10/2020