§ 4777. Loan consolidation
§ 4777. Loan consolidation Loans, or the outstanding balance of loans, made for the purpose of preparing engineering plans for a project may be consolidated with any subsequent loans for construction. (Added 1997, No. 62, § 75, eff. June 26, 1997.)
§ 4778. Federal capitalization grant distribution
§ 4778. Federal capitalization grant distribution The Secretary may use any available and lawful funds to match federal funds otherwise available to capitalize the Fund created by subdivision 4753(a)(3) of this title. Up to 20 percent of the funds which have been identified in the annual State Intended Use Plan (IUP) and allocated for water […]
§ 4769. Loans to hardship municipalities
§ 4769. Loans to hardship municipalities (a) Waiver of bond vote. A hardship municipality may receive a loan for an eligible project that includes a loan subsidy of up to $200,000.00 in the form of 100 percent principal forgiveness with no interest or administrative fee from funds authorized in subdivision 4753(a)(3) of this title, subject […]
§ 4770. Eligibility
§ 4770. Eligibility (a) For the purpose of this subchapter, “VEDA” means the Vermont Economic Development Authority which is authorized to make loans on behalf of the State under this chapter when the loan recipient is a privately-owned public water system. Such loans shall be issued and administered by VEDA pursuant to this subchapter. (b) […]
§ 4771. Conditions of loan agreement
§ 4771. Conditions of loan agreement (a) VEDA may make loans to applicants on behalf of the State for one or more of the purposes set forth in subsection 4770(b) of this title. Each such loan shall be made subject to the following conditions: (1) The loan shall be evidenced by a note payable over […]
§ 4772. Qualifications for eligibility; certification
§ 4772. Qualifications for eligibility; certification No loan to an applicant shall be made under this subchapter until: (1) The applicant has certified to VEDA that: (A) all State and federal permits and licenses, including land use, subdivision, water supply and wastewater permits, and water supply construction and operating permits, necessary to undertake the project […]
§ 4773. Loan priorities
§ 4773. Loan priorities The Secretary shall at least annually prepare a list of projects, ranked in priority order, that are eligible for financial assistance under this subchapter. In establishing such priorities, the Secretary shall at a minimum consider the following: (1) the quality and quantity of water supplied by the existing system; (2) any […]
§ 4767. Payment of awards
§ 4767. Payment of awards On receipt of the engineering planning documents and their approval by the Department, the Department shall certify the award to the Commissioner of Finance and Management who shall issue his or her warrant for payment of the award from the construction grant funds available to the Department. The Department may […]
§ 4768. Repayment of advances
§ 4768. Repayment of advances Advances under this subchapter shall be repaid when construction of the facilities or any portion thereof is undertaken. Where a construction grant or loan is authorized by the Department for the project, the amount of the outstanding advances shall be retained from the initial payments of the grant or loan […]
§ 4764. Planning
§ 4764. Planning (a) Engineering planning advance. A municipality or a combination of two or more municipalities desiring an advance of funds for engineering and land use planning for public water supply systems, as defined in subdivision 4752(9) of this title, or improvements, or for clean water projects or improvements, may apply to the Department […]