Illinois Administrative Code › Title 35 - ENVIRONMENTAL PROTECTION › Part 662 - PROCEDURES FOR ISSUING LOANS FROM THE PUBLIC WATER SUPPLY LOAN PROGRAM › Subpart D - LOAN ISSUANCE, AUDITING AND RECORDKEEPING › Section 662.460 - Loan Closing and Issuance of Final Loan Amendment

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Agency shall conduct a project review
				to ensure that all applicable loan conditions have been satisfied. After the
				final loan disbursement has been made and the project is complete, the loan
				recipient shall initiate the loan closing process by submitting the following
				to the Agency:
1) A release discharging the
				State of Illinois, its officers, agents, and employees from all liabilities,
				obligations, and claims arising out of the project work or under the loan,
				subject only to exceptions specified in the release.
2) A final waiver from the contractor and a
				Certification of Payment that all bills have been paid.
3) The Certificate Regarding O & M, on
				forms prescribed by the Agency that certifies the following:
A) Training pertaining to the proper
				operation and maintenance of the equipment and process units included in the
				project has been provided;
B) An
				operation and maintenance reference library is available and includes, but is
				not limited to, the following:
i)
				Manufacturer's literature, shop drawings, and warranties;
ii) The plans of record with valve indices
				for the equipment and process units included in the project; and
C) That the loan applicant employs
				or contracts the services of a certified operator pursuant to the Public Water
				Supply Operations Act [ 415 ILCS 45 ].
4) If the loan project includes insurable
				structures that will be located within a designated floodplain area as defined
				in the National Flood Insurance Act of 1968 (
				42 USC
				4001 through
				4127
				), written evidence that the loan recipient is participating in the National
				Flood Insurance Program or that construction areas have received official
				exclusion from the flood insurance requirements by the Federal Emergency
				Management Agency.
A) The loan recipient (or
				the construction contractor, as appropriate) shall acquire any flood insurance
				made available to it under the National Flood Insurance Act of 1968, as
				amended, and maintain the insurance for the entire useful life of the insurable
				structures.
B) The amount of
				insurance required shall be the lesser of the total project cost, excluding
				facilities that are uninsurable under the National Flood Insurance Program, or
				the maximum limit of coverage made available to the loan recipient under the
				National Flood Insurance Act of 1968.
C) The required insurance premium for the
				period of construction under this subsection (a)(4) shall be for an eligible
				project cost under Section
				662.430 (Loan
				Eligible Costs).
5)
				Within 30 days after completion of project construction, the loan recipient
				shall submit, in writing to the Agency, the final change order, along with the
				contractor's final costs, and the plans of record. After receipt, the Agency
				may schedule a final onsite inspection provided that all necessary change
				orders have been submitted and approved.