Oklahoma Administrative Code › Title 785 - Oklahoma Water Resources Board › Chapter 50 - Financial Assistance › Subchapter 1 - General Provisions › Section 785:50-1-2 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
The following words and terms, when used in this Chapter, shall have the
											  following meaning, unless the context clearly indicates otherwise, or unless defined differently in
											  Subchapters 8 and 9 when used in those subchapters:
"Applicant"
means the entity applying or having applied to
											  the Board for financial assistance under the provisions of this Chapter.
"Application"
means the application process or procedure
											  through which an applicant applies to the Board for financial assistance. In context, this word shall also be
											  understood to refer to the written application document(s), with attachments, through which application for
											  financial assistance is made to the Board.
"Board"
means the Oklahoma Water Resources Board authorized
											  by law to make final adjudications, execute contracts, adopt rules and carry out other powers and duties set
											  forth by law or, for duties authorized by law to be delegated to the Executive Director, the Executive
											  Director or any employee or agent or staff member thereof as assigned by the Executive Director.
"Board Staff"
means the Chief of Financial Assistance or the
											  Chief's designee.
"Clean Water SRF"
means that fund or program created by
											  Title 82 Oklahoma Statutes, Sections 1085.51 and following.
"CWSRF"
means Clean Water SRF.
"Department"
means the Oklahoma Department of the
											  Environmental Quality .
"Drinking Water SRF"
means that fund or program created by
											  Title 82 Oklahoma Statutes, Section 1085.71 and following.
"Drinking Water Treatment Project"
means:
(A) any engineering undertaking or work to control or develop drinking
											  water treatment facilities of eligible entities for all useful and lawful purposes,
(B) any system necessary to improve or develop drinking water supply,
											  treatment or distribution capabilities, or
(C) any implementation of water source protection programs as authorized
											  by the federal Safe Drinking Water Act.
"DWSRF"
means Drinking Water SRF.
"Eligible entity"
means those entities determined by the
											  Board to be eligible to obtain financial assistance from the Board for the financing of approved projects,
											  all being as is more specifically provided for under Subchapter 3 of this Chapter.
"Emergency"
means any situation where the life, health or
											  property of the persons being served by an entity are endangered.
"Financial assistance"
means the act, process or program of
											  Board participation in the loaning, granting of, or contracting for, financial assistance funds to an
											  applicant for the financing of a Board approved project, the same being as authorized and contemplated under
											  the provisions of Title 82 O.S. Sections 1085.31 through 1085.84.
"Investment Certificate"
means any note or bond, including
											  any renewal note or refunding bond, authorized and issued by the Board pursuant to the provisions of Title 82
											  O.S. Sections 1085.31 through 1085.84.
"Loan closing"
means the act and process of the loan
											  transaction parties executing all required and final loan transaction documents, instruments and contracts at
											  a designated point in time subsequent to financial assistance approval by the Board.
"Participating lender"
means any entity, institution,
											  person, firm or corporation, public, governmental or private, other than the Board, which is participating in
											  the financing or funding of a project for which application is made to the Board.
"Pledge"
means the act or process through which an applicant
											  commits, obligates and encumbers its property, real or personal, or its revenues, existing or anticipated,
											  all being of or from the projects or otherwise, to the Board as security and means for repayment of the loan
											  made to the applicant by the Board.
"Project"
means the applicant's works or undertaking for
											  which application for financial assistance has been made to or approved by the Board. In this connection,
											  projects and project purposes for which financial assistance may be obtained shall be those described and
											  defined in Subchapter 3 of this Chapter.
"Project cost"
means applicant's direct and incidental costs
											  of acquiring, constructing and furnishing the project for which assistance is sought and to those items of
											  cost for which Board- provided financial assistance funds may be utilized and expended by an applicant for an
											  approved project, all being as is more specifically described and contemplated within
											  785:50-3-1.
"REAP"
means the Rural Economic Action Plan created by Title
											  62 Oklahoma Statutes, Sections
											  2003
											  and following, and the funding and grant program administered by the Board pursuant thereto.
"Safe Drinking Water Act"
means the federal Safe Drinking
											  Water Act as may be amended, or any successor statute.
"Security"
means those items of real or personal property or
											  money revenues in which an applicant possesses legal right, title and interest and which are pledged,
											  committed and encumbered by the applicant to the Board to secure applicant's loan indebtedness and repayment
											  to the Board.
"SRF"
means a fund or program to be used for loans to
											  eligible entities for qualified projects in accordance with Federal law, rules and guidelines administered by
											  the U.S. Environmental Protection Agency and state law and rules in this Chapter administered by the Board.
											  "SRF" is a Federal term referring to a state revolving fund. There are two separate SRF programs administered
											  in Oklahoma: one is for the purpose of controlling water pollution (the CWSRF) and the other is for the
											  purpose or providing safe drinking water (the DWSRF).
"Water and Sewer program"
means the loan and grant program
											  administered by the Board for making loans from bond proceeds, emergency grants from the Grant Account of the
											  Water Resources Fund in the State Treasury, contract financial assistance, and related financial assistance
											  for water and sewer projects.
Amended at 10 Ok Reg 3361, eff
											  6-25-93; Amended at 12 Ok Reg 2715, eff 7-1-95; Amended at 15 Ok Reg 2881, eff 7-1-98; Amended at 16 Ok Reg
											  2691, eff 7-1-99