§ 965.9. Loan conditions.
(a) The borrower shall certify in writing that it has the legal, institutional and financial capability to implement the project over its entire design life. For sewerage facilities, this certification shall include the following:
(1) A certified copy of its sewer use ordinance which shall be enacted prior to receiving 95% of the loan funds.
(2) A certified copy of its ordinance or resolution establishing a user charge system, which shall be implemented prior to receiving 95% of the loan funds.
(b) The borrower shall certify in writing that the project has met the requirements of the CWSRF and undergone a SERP as required by the Department and the Authority.
(c) The borrower shall meet project performance standards within 1 year after the initiation of operation in accordance with The Clean Streams Law design specifications and the effluent requirements of its NPDES permit.
(d) The borrower shall submit an affirmative performance certification within 1 year after the initiation of operation.
(e) If the borrower cannot submit an affirmative performance certification, the borrower shall submit a corrective action report.
(f) The borrower shall provide the Authority with the right to audit its sewer use ordinance or its user charge system.
(g) The borrower shall provide the Authority with status reports at the Authority’s request until the project is completed.
(h) The borrower shall maintain financial records in accordance with governmental accounting standards and conduct an annual audit of the financial records as required by the CWSRF and the Single Audit Act of 1984 (31 U.S.C.A. § § 7501—7507) and the corresponding regulations at 15 CFR Part 8 Subpart A (relating to general provisions; prohibitions: nondiscrimination clause; applicability to programs).
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