Alabama Administrative Code › Title 335 - ALABAMA DEPARTMENT OF ENVIRONMENTAL MANAGEMENT › LAND DIVISION - BROWNFIELD REDEVELOPMENT AND VOLUNTARY CLEANUP PROGRAM › Chapter 335-15-7 - ALABAMA LAND RECYCLING REVOLVING LOAN FUND › Section 335-15-7-.03 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
The following words and terms, when used in this Chapter,
				  shall have the following meanings unless the context clearly indicates
				  otherwise.
(a) "Act" means the Alabama
				Land Recycling Authority Act.
(b)
				"Allowable costs" are those costs that are eligible, reasonable, necessary, and
				allocable to the project; permitted by generally accepted accounting
				principles; and approved by the Department in the Fund loan
				agreement.
(c) "Authority" means
				the corporation organized pursuant to the provisions of the Act as a public
				corporation, agency and instrumentality of the State and known as the Alabama
				Land Recycling Finance Authority.
(d) "Authorizing resolution" means a
				resolution or order adopted by the Board of Directors of the Authority
				authorizing the issuance of agreements and related matters.
(e) "Board of Directors" means the Board of
				Directors of the Alabama Land Recycling Finance Authority, consisting of the
				Governor, Lieutenant Governor, Speaker of the House of Representatives,
				Director of the Alabama Department of Environmental Management, and Director of
				Finance.
(f) "Bonds" means revenue
				bonds, notes or obligations or other evidence of indebtedness issued by the
				Authority under the provisions of the Act.
(g) "Bond proceeds" means the direct proceeds
				of the sale of bonds or notes, and the income derived from the investment of
				such proceeds.
(h) "Certified mail"
				means any means of delivery where proof of receipt is obtained and date of
				receipt is recorded.
(i) "Eligible
				property" means property which qualifies under
				335-15-2-.01 for participation in
				the voluntary cleanup program, and which is owned and operated by a loan
				applicant or loan applicants which qualify for the limitations of liability as
				described in
				335-15-4-.02.
(j) "Federal Comprehensive Environmental
				Response, Compensation, and Liability Act" (CERCLA) means the Act of Congress
				so designated (42 U.S.C. s/s 9601 et seq. 1980), as amended from time to
				time.
(k) "Federal grant" means a
				grant awarded pursuant to CERCLA for the purpose of capitalizing an Alabama
				Land Recycling Revolving Loan Fund and any amendments or supplements thereto.
(l) "Fund" means the Alabama Land
				Recycling State Revolving Fund established pursuant to Section
				22-30F-4 of the Act.
(m) "Fund loan" means a loan from the Alabama
				Land Recycling Revolving Loan Fund for the allowable costs of a
				project.
(n) "Fund loan agreement"
				is the legal instrument executed between the Authority and the public body for
				the remediation of contaminated property.
(o) "Loan applicant" means any public body
				which applies for a Fund loan pursuant to the provisions of these rules and
				regulations.
(p) "Local
				governmental unit" means a city, town, county, district, association, State
				agency, or other public body (including an inter-municipal agency of two or
				more) of the foregoing entities created under State law.
(q) "Project priority list" means the list
				developed by the State in conformance with the Federal Comprehensive
				Environmental Response, Compensation, and Liability Act of 1972 (33 U.S.C.
				1251 et al.), and any amendatory or
				supplementary acts thereto.
(r)
				"Project" means projects eligible for assistance from the revolving loan fund
				as certified to the Authority by the Department, including, without limitation,
				the following:
1. Assessment and
				investigation of eligible property pursuant to
Code of Ala.
				1975
, §
										22-30E-9(b).
2. Cleanup of eligible property pursuant to
Code of Ala. 1975
, §
										22-30E-9(c).
3. Any expenditure of a type or category
				determined by the Authority or the Department to be of such nature as will
				facilitate the timely assessment, cleanup, and subsequent redevelopment and
				return to productive use of an eligible property.