71-5324 Loans; requirements. - Nebraska Statutes

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Statutes > Nebraska > Chapter71 > 71-5324

71-5324. Loans; requirements.(1) All loans made under the Drinking Water State Revolving Fund Act shall be made only to owners of public water systems that:(a) Meet the requirements of financial, technical, and managerial capability set by the department;(b) Pledge sufficient revenue sources for the repayment of the loan if such revenue may by law be pledged for that purpose;(c) In the case of a privately owned public water system, pledge sufficient revenue, collateral, or other security for the repayment of the loan;(d) Agree to maintain financial records according to generally accepted government accounting principles and to conduct an audit of the financial records according to generally accepted government auditing standards; and(e) Provide a written assurance, signed by an attorney holding an active license to practice in the State of Nebraska, that the recipient has proper title, easements, and rights-of-way to the property on or through which the safe drinking water project is to be constructed or extended.(2) Loans made for the construction of a safe drinking water project shall be made only to owners of public water systems which meet the conditions of subsection (1) of this section and, in addition, that:(a) Require the contractor of the project to post separate performance and payment bonds or other security approved by the department in the amount of the bid;(b) Provide a written notice of completion and start of operation of the safe drinking water project;(c) Employ a registered professional engineer to provide and be responsible for engineering services on the project such as an engineering report, construction contract documents, observation of construction, and startup services; and(d) Agree to operate and maintain the safe drinking water project so that it will function properly over the structural and material design life. SourceLaws 1997, LB 517, § 13; Laws 2001, LB 667, § 48.

State Codes and Statutes

Statutes > Nebraska > Chapter71 > 71-5324

71-5324. Loans; requirements.(1) All loans made under the Drinking Water State Revolving Fund Act shall be made only to owners of public water systems that:(a) Meet the requirements of financial, technical, and managerial capability set by the department;(b) Pledge sufficient revenue sources for the repayment of the loan if such revenue may by law be pledged for that purpose;(c) In the case of a privately owned public water system, pledge sufficient revenue, collateral, or other security for the repayment of the loan;(d) Agree to maintain financial records according to generally accepted government accounting principles and to conduct an audit of the financial records according to generally accepted government auditing standards; and(e) Provide a written assurance, signed by an attorney holding an active license to practice in the State of Nebraska, that the recipient has proper title, easements, and rights-of-way to the property on or through which the safe drinking water project is to be constructed or extended.(2) Loans made for the construction of a safe drinking water project shall be made only to owners of public water systems which meet the conditions of subsection (1) of this section and, in addition, that:(a) Require the contractor of the project to post separate performance and payment bonds or other security approved by the department in the amount of the bid;(b) Provide a written notice of completion and start of operation of the safe drinking water project;(c) Employ a registered professional engineer to provide and be responsible for engineering services on the project such as an engineering report, construction contract documents, observation of construction, and startup services; and(d) Agree to operate and maintain the safe drinking water project so that it will function properly over the structural and material design life. SourceLaws 1997, LB 517, § 13; Laws 2001, LB 667, § 48.

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State Codes and Statutes

Statutes > Nebraska > Chapter71 > 71-5324

71-5324. Loans; requirements.(1) All loans made under the Drinking Water State Revolving Fund Act shall be made only to owners of public water systems that:(a) Meet the requirements of financial, technical, and managerial capability set by the department;(b) Pledge sufficient revenue sources for the repayment of the loan if such revenue may by law be pledged for that purpose;(c) In the case of a privately owned public water system, pledge sufficient revenue, collateral, or other security for the repayment of the loan;(d) Agree to maintain financial records according to generally accepted government accounting principles and to conduct an audit of the financial records according to generally accepted government auditing standards; and(e) Provide a written assurance, signed by an attorney holding an active license to practice in the State of Nebraska, that the recipient has proper title, easements, and rights-of-way to the property on or through which the safe drinking water project is to be constructed or extended.(2) Loans made for the construction of a safe drinking water project shall be made only to owners of public water systems which meet the conditions of subsection (1) of this section and, in addition, that:(a) Require the contractor of the project to post separate performance and payment bonds or other security approved by the department in the amount of the bid;(b) Provide a written notice of completion and start of operation of the safe drinking water project;(c) Employ a registered professional engineer to provide and be responsible for engineering services on the project such as an engineering report, construction contract documents, observation of construction, and startup services; and(d) Agree to operate and maintain the safe drinking water project so that it will function properly over the structural and material design life. SourceLaws 1997, LB 517, § 13; Laws 2001, LB 667, § 48.