SECTION .0200 ‑ ELIGIBILITY REQUIREMENTS

 

15A NCAC 01L .0201       ELIGIBLE PROJECT COSTS

(a)  Project costs eligible for a loan under this Subchapter

are limited to:

(1)           the actual costs of the works described in

the project application;

(2)           contingency costs, not to exceed ten

percent of the estimated eligible construction costs for which a loan award is

made under this Subchapter.  Upon receipt of bids, the contingency costs shall

be reduced to not more than five percent of the actual eligible construction costs

as bid.

(b)  Eligible costs do not include recurring annual

expenditures for administration, repairs, or operation and maintenance of any

wastewater treatment works, wastewater collection system,  water supply system

or water conservation projects.  Items not covered or allowed in the definition

of "cost" are also excluded.

 

History Note:        Filed as a Temporary Rule Eff. March 8,

1994, for a period of 180 days or until the permanent rule becomes effective,

whichever is sooner;

Authority S.L. 1998, c. 132, s. 10;

Eff. July 1, 1994.