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§ 8102.7. Conditions of Funds Disbursement, Funds Disbursement and Loan Repayment Procedures.

4 CA ADC § 8102.7Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 4. Business Regulations
Division 11. California Pollution Control Financing Authority (Refs & Annos)
Article 9. California Recycle Underutilized Sites (Cal Reuse) Program
Subarticle 2. Calreuse Remediation Program.
4 CCR § 8102.7
§ 8102.7. Conditions of Funds Disbursement, Funds Disbursement and Loan Repayment Procedures.
Currentness
(a) Conditions of Funds Disbursement. The Authority shall not disburse Infill Grant or Infill Loan funds unless all of the following conditions are met:
(1) All other funds for completing the Brownfield Infill Project are identified and committed for use;
(2) All terms and conditions contained in the commitment letter described in Section 8102.5(c) are satisfied;
(3) Execution of an Infill Loan Agreement, Infill Grant Agreement, promissory note and any other documents, as required, and compliance with all conditions precedent to disbursement contained in the Infill Grant Agreement or Infill Loan Agreement.
(b) Funds Disbursement. The Authority shall cause funds to be disbursed as follows:
(1) The Borrower or Grantee shall sign and submit to the Strategic Partner a signed invoice documenting the service or procedure performed from entities providing materials and services for Eligible Brownfield Infill Project Costs covered by the Infill Loan Agreement or Infill Grant Agreement.
(2) Upon receipt of the signed invoice, review and a determination of Eligible Brownfield Infill Project Costs, the Strategic Partner shall make a recommendation to the Authority regarding the funding of the disbursement request.
(3) The Authority will authorize the disbursement of Infill Loan or Infill Grant funds to the Applicant from the funds of the Authority committed by the Authority for the Infill Grant or Infill Loan.
(4) Disbursements shall be made no more frequently than once per calendar month.
(c) Loan Repayment Procedures. The Strategic Partner shall cause any Infill Loan repayment proceeds received from the Borrower to be delivered promptly upon receipt by the Strategic Partner to the following entities in the following order:
(1) First, to the Authority until the funds advanced by the Authority for the Infill Loan, including any accrued interest, are repaid in full, and
(2) Second, to the Strategic Partner to repay any loan to the Borrower by the Strategic Partner in connection with the Brownfield Infill Project, if applicable.

Credits

Note: Authority cited: Section 44520, Health and Safety Code. Reference: Sections 44501, 44502, 44504.1, 44505, 44506, 44507, 44508, 44520, 44525.7, 44526(h), 44526(i), 44537.5, 44548(a), 44548(b), 53545 and 53545.14, Health and Safety Code.
History
1. New section filed 2-29-2008 as an emergency; operative 2-29-2008 (Register 2008, No. 9). Pursuant to Health and Safety Code section 44520(b), a Certificate of Compliance must be transmitted to OAL by 8-27-2008 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 8-25-2008 as an emergency; operative 8-27-2008 (Register 2008, No. 35). Pursuant to Health and Safety Code section 44520(b), a Certificate of Compliance must be transmitted to OAL by 11-24-2008 or emergency language will be repealed by operation of law on the following day.
3. New section refiled 11-24-2008 as an emergency, including amendment of subsections (a)(2) and (b)(3); operative 11-24-2008 (Register 2008, No. 48). Pursuant to Health and Safety Code section 44520(b), a Certificate of Compliance must be transmitted to OAL by 2-23-2009 or emergency language will be repealed by operation of law on the following day.
4. Certificate of Compliance as to 11-24-2008 order, including amendment of subsections (a), (b) and (b)(2), new subsection (b)(3) and subsection renumbering, transmitted to OAL 1-7-2009 and filed 2-23-2009 (Register 2009, No. 9).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 4, § 8102.7, 4 CA ADC § 8102.7
End of Document