15A NCAC 01N .0704. DISBURSEMENT OF LOANS

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(a) Disbursement of loan monies shall be made at intervals as work progresses and expenses are incurred. No disbursement shall be made until the receiving agency receives documentation of incurred costs. At no time shall disbursement exceed the allowable costs which have been incurred at that time.

(b) No disbursement shall be made until the receiving agency receives documentation of compliance with applicable federal and state laws.

(c) The receiving agency shall authorize the Controller's Office of the Department of Environment and Natural Resources to make loan disbursements.

History Note: Authority G.S. 159G-22; 159G-35; 159G-44;

Temporary Adoption Eff. January 31, 1998;

Eff. April 1, 1999;

Amended Eff. February 1, 2008.

                    
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