SECTION 785:50-5-1. Application form and required information

(a)   Application form.

(1)   Printed financial assistance application forms for the Water and Sewer program shall be, to the extent deemed appropriate, furnished by the Board.

(2)   Printed financial assistance application forms for the CWSRF program authorized in 82 O.S., §§1085.51 through 1085.65 shall be developed by the Board and furnished to applicants to be completed by the applicants and submitted to the Board.

(3)   Printed financial assistance application forms for the DWSRF program authorized in 82 O.S. §§1085.71 through 1085.84 shall be developed by the Board and furnished to Department and applicants to be completed by the applicants and submitted to the Board.

(4)   Printed financial assistance application forms for the Rural Economic Action Plan grant program shall be developed by the Board and furnished to qualified entities and COGs to be completed by the qualified entities or COGs and submitted to the Board.

(5)   All applications for financial assistance must be completed by the applicant either on written forms as may be provided by the Board or in such other written from as the Board may require.

(b)   Required general information. The following general information must be submitted by applicant within each application for financial assistance unless deemed inapplicable and waived by the Board Staff:

(1)   Applicant's full, true and correct legal name, official residence and mailing address if different from official residence.

(2)   Authority of law under which applicant was created and established and applicant's independent legal authority under which application is made. Applicant must identify and describe the nature of its legal identification as a political subdivision, special purpose district or public trust.

(3)   Applicant must provide certified copy of the resolution or other specific authorizing instrument reflecting applicant's authorization for making the subject application to the Board.

(4)   Name and address of applicant's project engineer.

(5)   Total amount of funds requested by applicant for project assistance from the Board including a statement of the specific uses and purposes for which such funds are intended to be applied.

(6)   Applicant's anticipated project commencement and completion date.

(7)   Applicant's firm estimate of annual (or other interval) revenues to be derived from the project or other available sources or revenue to be pledged by applicant to the Board for loan repayment and such additional project revenue information as may be necessary to evaluate general economic feasibility of the project.

(8)   Information regarding the ability of the applicant to finance project development for which assistance is sought without Board participation.

(9)   A statement of the manner and means by which applicant intends to finance the entire project including a statement when appropriate of the specific manner and means by which applicant proposes to make repayment to the Board from project revenues.

(10)   Information reflecting whether applicant has any type of reserve or contingency funds available which could and would be used to meet actual project costs which may exceed applicant's original total estimated costs of the project (reserve or contingency fund for cost overrun). Such information should include the nature, source, amount and liquidity of such reserve or contingency funds and applicant's commitment and ability to utilize such funds when and if necessary for such purposes.

(11)   A certified copy of applicant's previous four (4) years' annual audits, if available, and a statement of applicant's financial condition including a current statement of all outstanding indebtedness of applicant or related entities, including but not limited to all outstanding general obligation or revenue debt which such indebtedness might affect applicant's overall financial condition. In this connection, applicant must list the security given for all such indebtedness.

(12)   A brief but adequate description of the proposed project for which application is made, including but not limited to the following:

(A)   Project location.

(B)   Nature of project, including a detailed project description with such tentative project plans and specifications as may be necessary to reflect general engineering feasibility of the project.

(C)   Comprehensive statement clearly demonstrating project need.

(i)   Such statement must be in sufficient detail to support and justify the project and should describe approval for the project.

(ii)   Applicant may include letters or statement of support from any interested persons or agencies.

(D)   Anticipated total project cost.

(E)   Listing of all financing institutions, lender, or other funding sources participating in financing the project, with, where applicable, the following related information:

(i)   Statement by each participating entity reflecting the relative interest, support and commitment of the participating lender or other funding source in and to the project.

(ii)   Statement reflecting total project cost allocation between lenders or other funding sources, and,

(iii)   A statement and description of all project security or project revenues already pledged or to be pledged to other participating lenders or fund sources.

(13)   Nature and amount of security to be pledged to the Board for the financial assistance requested.

(14)   If real or personal property, or any interest therein, is to be pledged by applicant to the Board for security, applicant must submit a current statement of the nature and extent of all outstanding liabilities or indebtedness against such property. If applicant is not the owner of such real or personal property to be pledged, applicant must state and describe the nature and extent of applicant's legal or equitable interest in such property, and, provide a statement setting forth who or what entity owns such property with a statement of all outstanding liabilities or indebtedness against such property.

(15)   Description of nature and division of contemplated project ownership or other legal or equitable interest in the project if other than complete ownership by applicant.

(16)   A statement reflecting the relevant history or current status of applicant's efforts toward obtaining all necessary and incidental rights and privileges needed for project commencement, completion and cooperation. This requirement includes but is not limited to all necessary legal rights including water rights, licenses or permits, whether existing under federal, state or local law or regulation, the relative status of secured or outstanding contracting arrangements, and the status of any incidental legal proceedings including, but not limited to any authorizations required by residents of the applicant.

(17)   All applicants should submit, if not otherwise submitted, a comprehensive statement of project overview setting forth group effort in the project, debt, revenue and commitments the project and applicant's future capital improvement plans as may relate to the applicant's proposed project or the applicant generally.

(18)   Where applicable to the particular project for which financial assistance is sought, the following additional information must be submitted with the application:

(A)   All estimated firm annual yields and proposed reservoir capacities for storage if assistance is sought for reservoir or storage facilities construction or if assistance is sought for a project incidental to an existing storage facility or reservoir.

(B)   A statement containing the proposed purposes for which water will be stored or used and places of use or potential use for such water.

(C)   A statement of relative allocation of project costs to each project purpose if for more than one purpose.

(D)   A brief description of existing or proposed improvements in the project area and a description of all such improvements which may require relocation.

(19)   The Board may require applicant to submit such further or additional project information as may be deemed necessary for proper project review under the particular facts and circumstances of any specific project financial assistance proposal.

[Source: Amended at 10 Ok Reg 3333, eff 7-1-93; Amended at 12 Ok Reg 2715, eff 7-1-95; Amended at 13 Ok Reg 3733, eff 7-18-96 (emergency); Amended at 14 Ok Reg 2788, eff 7-1-97; Amended at 15 Ok Reg 2881, eff 7-1-98; Amended at 16 Ok Reg 2691, eff 7-1-99; Amended at 35 Ok Reg 2243, eff 9-14-18; Amended at 36 Ok Reg 1332, eff 8-11-19]