33 Miss. Code. R. 2-3.6.4 - Amended Loan Offer

3.6.4.1 After receipt, review and approval of the loan agreement amendment request, the Department may prepare and transmit an amended DWSIRLF loan offer to the loan recipient. The loan offer will include in the project budget:

1. the approved as-bid amounts for construction,

2. the final allowance amounts for professional services in accordance with Appendix B of these regulations,

3. a construction contingency as determined by the Department, and

4. the original administrative fee.

3.6.4.2 Upon receipt of the amended DWSIRLF loan offer, the loan recipient must completely execute and return it to the Department within the timeframe established in the offer letter. After execution of the amended DWSIRLF loan offer, the DWSIRLF loan amount may not be increased except for funding of a subsequent phase of a segmented project as identified in the Intended Use Plan for a later fiscal year. Any increased project costs in excess of the amended DWSIRLF loan amount must be paid by the loan recipient from sources other than DWSIRLF loan funds.

Notes

33 Miss. Code. R. 2-3.6.4

Miss. Code Ann. § 41-3-16(3)(b)

Amended 7/31/2016 Amended 5/25/2017