Sec. 26.03.07.08. Conditions of Loan Agreements

Latest version.

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.

                    
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