Illinois Compiled Statutes
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415 ILCS 5/19.4
(415 ILCS 5/19.4)
(from Ch. 111 1/2, par. 1019.4)
(a) The Agency shall have the authority to promulgate
regulations for the administration of this Title, including, but not limited to, rules setting forth procedures and criteria concerning loan
applications and the issuance of loans. For loans to units of local government, the regulations shall
include, but need not be limited to, the following elements:
(1) loan application requirements;
(2) determination of credit worthiness of the loan
(3) special loan terms, as necessary, for securing
the repayment of the loan;
(4) assurance of payment;
(5) interest rates;
(6) loan support rates;
(7) impact on user charges;
(8) eligibility of proposed construction;
(9) priority of needs;
(10) special loan terms for disadvantaged communities;
(11) maximum limits on annual distributions of funds
to applicants or groups of applicants;
(12) penalties for noncompliance with loan
requirements and conditions, including stop-work orders, termination, and recovery of loan funds; and
(13) indemnification of the State of Illinois and the
Agency by the loan recipient.
(b) The Agency shall have the authority to promulgate regulations to set
forth procedures and criteria concerning loan applications for loan recipients
other than units of local government. In addition to all of the elements
required for units of local government under subsection (a), the regulations
shall include, but need not be limited to, the following elements:
(1) types of security required for the loan;
(2) types of collateral, as necessary, that can be
pledged for the loan; and
(3) staged access to fund privately owned community
(c) Rules adopted under this Title shall also include, but shall not be limited to, criteria for prioritizing the issuance of loans under this Title according to applicant need.
Priority in making loans from the Public Water Supply Loan Program must first
be given to local government units and privately owned community water supplies
that need to make capital improvements to
protect human health and to achieve compliance with the State and federal
primary drinking water standards adopted pursuant to this Act and the federal
Safe Drinking Water Act, as now and hereafter amended. Rules for prioritizing loans from the Water Pollution Control Loan Program may include, but shall not be limited to, criteria designed to encourage green infrastructure, water efficiency, environmentally innovative projects, and nutrient pollution removal.
(d) The Agency shall have the authority to promulgate regulations to set forth procedures and criteria concerning loan applications for funds provided under the American Recovery and Reinvestment Act of 2009. In addition, due to time constraints in the American Recovery and Reinvestment Act of 2009, the Agency shall adopt emergency rules as necessary to allow the timely administration of funds provided under the American Recovery and Reinvestment Act of 2009. Emergency rules adopted under this subsection (d) shall be adopted in accordance with Section 5-45 of the Illinois Administrative Procedure Act.
(e) The Agency may adopt rules to create a linked deposit loan program through which loans made pursuant to paragraph (3.5) of subsection (b) of Section 19.3 may be made through private lenders. Rules adopted under this subsection (e) shall include, but shall not be limited to, provisions requiring private lenders, prior to disbursing loan proceeds through the linked deposit loan program, to verify that the loan recipients have been approved by the Agency for financing under paragraph (3.5) of subsection (b) of Section 19.3.
(Source: P.A. 98-782, eff. 7-23-14.)