Section NR 166.12 - Reimbursement and refinancing(1) REIMBURSEMENT OF PREVIOUSLY PAID DEBT. The department may approve reimbursement of eligible project costs previously paid by the municipality from its internal funds, if the reimbursement is in compliance with applicable U.S. treasury reimbursement regulations in 26 CFR 1.150-2, the project does not reach substantial completion more than 3 years prior to the date the applicant submits a complete application for financial assistance under s. NR 166.08 (4), and the applicant does not already have outstanding long-term affordable debt for the project.(2) REFINANCING OF INTERIM DEBT. The department may approve refinancing of the eligible portion of a municipality's interim debt subject to the limits established in s. NR 166.07 (3).Wis. Admin. Code Department of Natural Resources NR 166.12
CR 06-023: cr. Register May 2007 No. 617, eff. 6-1-07.Amended by, CR 14-044: cr. Register June 2015 No. 714, eff.7/1/2015.Amended by, correction in (4) (a) 8. (Note) made under s. 13.92(4) (b) 7, Stats., Register April 2017 No. 736, eff. 5-1-2017 Register June 2017 No. 738, eff. 7/1/2017Adopted by, CR 22-068: cr. Register October 2023 No. 814, eff. 11/1/2023The department's approval of reimbursement and refinancing transactions is preliminary. DOA makes the final determination regarding whether the state revolving fund is able to refinance a municipality's interim debt or reimburse a municipality's internal accounts.