Vermont Statutes
Chapter 120 - Special Environmental Revolving Fund
§ 4783. Qualifications for eligibility; certification

§ 4783. Qualifications for eligibility; certification
No loan to an applicant shall be made under this subchapter until:
(1) The applicant has certified all of the following to VEDA:
(A) all State and federal permits and licenses necessary to undertake the project for which financing has been sought will be obtained prior to the expenditure of construction funds under the loan;
(B) the applicant has sufficient means to pay the principal and interest on the loans and to pay any anticipated costs of operating and maintaining the financed project;
(C) if the applicant is subject to the jurisdiction of the Public Utility Commission under 30 V.S.A §§ 102 and 203(6), the applicant has obtained the following approvals, if such approvals are necessary for the project, and has provided VEDA with copies of those approvals:
(i) the certificate of public good issued by the Public Utility Commission pursuant to 30 V.S.A. §§ 231 (public good) and 108 (approving the loan); and
(ii) the decision and order of the Public Utility Commission approving rates that are to be charged by the applicant.
(D) the municipality or municipalities in which the clean water project is located have provided a letter of support for the project.
(2) The Secretary has certified to VEDA that the applicant and the project qualify for financing or assistance under section 4784 of this title and that the project has priority for receipt of financial assistance. (Added 2017, No. 185 (Adj. Sess.), § 11, eff. May 28, 2018.)

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