Trans 30.05(1)(1)
Criteria. The department may approve applications that satisfy the following criteria:
Trans 30.05(1)(b)
(b) The applicant has been in business in Wisconsin for a continuous period of not less than 5 years prior to the date of the loan application.
Trans 30.05(1)(c)
(c) The loan request is for at least $20,000 but not more than $200,000.
Trans 30.05(1)(e)
(e) An applicant may not have a total of more than $200,000 in loan funds outstanding under this program at one time.
Trans 30.05(2)(a)(a) The department may not grant a loan unless it determines that an application is compatible with the department's highway improvement program construction schedules.
Trans 30.05(2)(b)
(b) The department shall consider loan applications on the basis of state-wide needs and importance.
Trans 30.05(2)(c)
(c) The department may not loan funds more than 2 years before, or within 90 days of, the scheduled letting of a highway construction contract.
Trans 30.05(2)(d)
(d) The department may not loan funds to finance work to be carried out concurrent with highway construction.
Trans 30.05 History
History: Cr.
Register, January, 1991, No. 421, eff. 2-1-91.
Trans 30.06(1)
(1) An applicant with an approved loan application shall execute a loan agreement with the department on a form approved by the department.
Trans 30.06(2)
(2) A loan agreement is void unless it is executed by an applicant and by the department within 60 days of approval of the loan application by the department.
Trans 30.06(3)
(3) Recipients are subject to all relevant statutes, rules, and agreements of the department, including the obligation to obtain a permit from the department to occupy highway rights-of-way.
Trans 30.06(4)
(4) The amount of loan provided by the department shall be stated in the loan agreement.
Trans 30.06(5)
(5) Recipients shall make periodic progress reports to the department if required by the agreement.
Trans 30.06(6)
(6) The department shall require repayment of loan funds advanced to a recipient if the railroad or public utility alteration or relocation project for which the loan funds are granted is not completed in accordance with all terms of the loan agreement.
Trans 30.06 History
History: Cr.
Register, January, 1991, No. 421, eff. 2-1-91.
Trans 30.07
Trans 30.07 Disbursement of funds. After a loan agreement is executed in accordance with
s. Trans 30.06, the department shall disburse the full amount of the approved loan to the recipient within 30 days of receipt of written notice from the recipient that the relocation or alteration work for which the loan was approved will commence within 30 days after receipt of the loan funds.
Trans 30.07 History
History: Cr.
Register, January, 1991, No. 421, eff. 2-1-91.
Trans 30.08(1)
(1) Upon receipt of loan funds, the recipient shall carry out the alteration or relocation work for which the loan was approved to completion in a timely and expeditious manner in accordance with a schedule approved by the department.
Trans 30.08(2)
(2) The recipient may not suspend or delay work without approval of the department.
Trans 30.08(3)
(3) The department may not unreasonably withhold approval for suspension or delay of the recipient's work if there is just cause for the delay or suspension.
Trans 30.08 History
History: Cr.
Register, January, 1991, No. 421, eff. 2-1-91.
Trans 30.09(1)
(1) Loans may be repaid with or without interest, as prescribed in the loan agreement. The interest rate shall be as prescribed in
s. 84.065 (3) (d), Stats.
Trans 30.09 Note
Note: Principal and interest, if any, shall be repaid within one year of the date the highway construction improvement contract is awarded, s.
84.065 (3) (d), Stats.
Trans 30.09(2)
(2) In the event alteration or relocation work for which the loan was approved is suspended or delayed for more than 90 days as approved under
s. Trans 30.08, the recipient shall, upon the department's request, refund to the department the outstanding balance of any loan, plus interest as prescribed in
s. 84.065 (3) (d), Stats.
Trans 30.09(3)
(3) The recipient shall refund to the department the outstanding balance of any loan after completion of the alteration or relocation work for which the loan was approved, plus interest as prescribed in
s. 84.065 (3) (d), Stats.
Trans 30.09 History
History: Cr.
Register, January, 1991, No. 421, eff. 2-1-91.
Trans 30.10
Trans 30.10 Inspection of work. The department may inspect the alteration or relocation work for which the loan was approved, without prior notice and at reasonable times, for compliance with the provisions of the loan application and the loan agreement.
Trans 30.10 History
History: Cr.
Register, January, 1991, No. 421, eff. 2-1-91.
Trans 30.11
Trans 30.11 Audit and inspection of records. The department may audit and inspect the records of a recipient to ascertain that the costs for the alteration or relocation work for which the loan was approved are in substantial conformity with the approved loan application. Recipients shall retain all records related to a loan granted under this chapter for at least 3 years from the date the loan was repaid, and shall make these records available for inspection and copying by the department upon request.
Trans 30.11 History
History: Cr.
Register, January, 1991, No. 421, eff. 2-1-91.
