Florida Regulations 62-503.500: Funds Reserved for Specific Purposes
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(1) Small community reserve. Fifteen percent of the funds allocated each year by the Department less the amount of any bonds issued or to be issued by the Florida Water Pollution Control Financing Corporation shall be reserved to fund projects that will serve small communities. The Department shall administer the small-community reserve funds as follows:
(a) A project serving a small community shall retain eligibility for funding from the small-community reserve regardless of the population of the project sponsor seeking funding for the project. However, a project shall not be eligible for funding from the small-community reserve if more than half of the population of the community to be served by the project is located within an incorporated jurisdiction that is not a small community.
(b) When the priority list is adopted, any part of the reserved amount not needed for small-community projects shall become available for all projects.
(2) Grant allocation assessment. Grant allocation assessments and earnings that have been released from any lien securing any bonds shall be used solely for making wastewater management project grants to financially disadvantaged small communities under Florida Statutes § 403.1838
(3) Green project reserve. If required in the federal capitalization grant, funds shall be reserved for a Green project as defined in subsection 62-503.200(22), F.A.C., if sufficient Green projects are submitted to use the funds.
(4) Funds reserved for principal forgiveness. If required in the federal capitalization grant, funds shall be reserved for providing loan principal forgiveness to projects that qualify for grants under Florida Statutes § 403.1838 The percentage of the loan principal forgiven shall be determined as described in subsection 62-505.350(5), F.A.C.
Rulemaking Authority Florida Statutes § 403.1835(10). Law Implemented Florida Statutes § 403.1835. History-New 4-17-89, Amended 12-4-91, 2-23-94, Formerly 17-503.500, Amended 1-4-98, 7-1-99, 2-6-02, 7-29-04, 4-22-14, 3-9-22.
Terms Used In Florida Regulations 62-503.500
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lien: A claim against real or personal property in satisfaction of a debt.
(b) When the priority list is adopted, any part of the reserved amount not needed for small-community projects shall become available for all projects.
(2) Grant allocation assessment. Grant allocation assessments and earnings that have been released from any lien securing any bonds shall be used solely for making wastewater management project grants to financially disadvantaged small communities under Florida Statutes § 403.1838
(3) Green project reserve. If required in the federal capitalization grant, funds shall be reserved for a Green project as defined in subsection 62-503.200(22), F.A.C., if sufficient Green projects are submitted to use the funds.
(4) Funds reserved for principal forgiveness. If required in the federal capitalization grant, funds shall be reserved for providing loan principal forgiveness to projects that qualify for grants under Florida Statutes § 403.1838 The percentage of the loan principal forgiven shall be determined as described in subsection 62-505.350(5), F.A.C.
Rulemaking Authority Florida Statutes § 403.1835(10). Law Implemented Florida Statutes § 403.1835. History-New 4-17-89, Amended 12-4-91, 2-23-94, Formerly 17-503.500, Amended 1-4-98, 7-1-99, 2-6-02, 7-29-04, 4-22-14, 3-9-22.