Michigan Laws 324.5411 – Application for assistance; review by department; order of approval; incorporation of other documents; use of project assistance as matching requirements; eligibility certification
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Terms Used In Michigan Laws 324.5411
- Assistance: means 1 or more of the following activities to the extent authorized by the federal safe drinking water act:
(i) Provision of loans for the planning, design, and construction or alteration of waterworks systems. See Michigan Laws 324.5401Authority: means the Michigan municipal bond authority created in the shared credit rating act, 1985 PA 227, MCL 141. See Michigan Laws 324.5401 Department: means the department of environment, Great Lakes, and energy or its authorized agent or representative. See Michigan Laws 324.5402 Project: means a project related to the planning, design, and construction or alteration of a waterworks system and may include utilization of more efficient energy and resources as described in any of the following:
(i) The cost-effective governmental energy use act, 2012 PA 625, MCL 18. See Michigan Laws 324.5403supplier: means a municipality or its designated representative accepted by the director, a legal business entity, or any other person that owns a public water supply. See Michigan Laws 324.5403
(1) The department shall review a complete application for assistance for a proposed project submitted under section 5409. If the department approves the application for assistance, the department shall issue an order of approval to establish the specific terms of the assistance. The order of approval shall include, but need not be limited to, all of the following:
(a) The term of the assistance.
(b) The maximum principal amount of the assistance.
(c) The maximum rate of interest or method of calculation of the rate of interest that will be used, or the premium charged.
(2) The order of approval under subsection (1) shall incorporate all requirements, provisions, or information included in the application and other documents submitted to the department during the application process.
(3) The department shall not prohibit a water supplier from using assistance for a project to meet match requirements for federal loans or grants for that project.
(4) After issuance of the order of approval under subsection (1), the department shall certify to the authority that the water supplier is eligible to receive assistance.