NR 162.08(7)(c)2.2. The recipient shall promptly and no later than 90 days after execution of the change order submit to the department construction management engineer each change order and all associated backup documentation.

NR 162.08(7)(c)3.3. If a change order is executed fewer than 90 days but no more than 9 weeks prior to the estimated loan closing date for the project, the recipient shall submit the change order to the department promptly after execution and no later than 9 weeks prior to the loan closing in order to have the impact of the change order on the contract reflected in the financial assistance agreement budget.

NR 162.08(7)(c)4.4. The department may deny the costs of the change order if the recipient does not submit the change order to the department within the timeframes specified in subds. 2. and 3.

NR 162.08(7)(c)5.5. If the recipient is in the process of negotiating a change order, has a change order pending execution, or executes a change order less than 9 weeks but no more than 3 weeks prior to the estimated loan closing date, the recipient shall provide information regarding the purpose of and likely cost for the change order in writing to the department construction management engineer or loan project manager for consideration of inclusion in the financial assistance agreement budget.

NR 162.08(7)(c)6.6. The recipient shall submit for approval by the department all change orders for all contracts included in whole or in part in a project funded under this subchapter or subch. III.

NR 162.08(7)(c)7.7. The recipient shall receive the department construction management engineer’s approval of the costs included in the change order prior to submitting to the department a request for disbursement of funds for costs of the change order.

NR 162.09(1)(1) Reimbursement of previously paid debt. The department may reimburse eligible project costs previously paid by the municipality from its internal funds, if the reimbursement is in compliance with applicable U.S. treasury reimbursement regulations in 26 CFR 1.150-2, the project does not reach substantial completion more than 3 years prior to the date the applicant submits a complete application for financial assistance under s. NR 162.05 (4), and the applicant does not already have outstanding long-term affordable debt for its project that reached substantial completion more than 3 years prior to the date on which a complete application was submitted to the department.

NR 162.09(2)(2) Refinancing of interim debt. The department may refinance the eligible portion of a municipality’s interim debt subject to the limits established in s. NR 162.04 (3).

NR 162.10NR 162.10 Loan interest rate. The department shall calculate interest rates in accordance with s. 281.58 (12), Stats., and all of the following:

NR 162.10(1)(1) Interest rates.

NR 162.10(1)(a)(a) For costs of projects or portions of projects described in ss. NR 162.03 (1) (a), (b), and (d), 162.03 (2) and (3), 162.04 (1) (b), 162.22, and 162.23 (1) (a) and (b), the interest rate shall be the interest rate specified in s. 281.58 (12) (a), Stats.

NR 162.10(1)(b)(b) For project costs sanctioned under s. NR 162.08 (4) (b) for noncompliance with requirements for solicitation of DBEs, the interest rate shall be the market interest rate.

NR 162.10(1)(c)(c) For project costs under s. NR 162.03 (1) (c), the department shall determine the appropriate interest rate in accordance with s. 281.58 (8) (h) and (12) (a) 4., Stats.

NR 162.10(2)(2) Project interest rate calculation.

NR 162.10(2)(a)(a) If all of the eligible costs of a scored project are described under only one paragraph under sub. (1), the interest rate shall be the rate stated in the applicable section of s. 281.58 (12), Stats. If a scored project contains eligible costs described under more than one paragraph under sub. (1) and s. 281.58 (12), Stats., specifies interest rates for the categories that are different from each other, a composite interest rate shall be computed for the scored project under par. (b).

RT 1 . . . is the interest rate stated under s. 281.58 (12) (a) 1. a., b., or c., Stats., for the municipality based on its population as described in s. NR 162.003 (55) and median household income as determined under par. (d).

RT 3 . . . is the interest rate established under s. 281.58 (12) (a) 5., Stats., for projects that provide facilities to receive or store septage, or provide treatment capacity for septage, as defined in s. 281.58 (1) (cv), Stats.

PR1 . . . is the percentage of the project under s. NR 162.03 (1) (a), (b), and (d) and (2) that is eligible for a subsidized rate and being financed by the CWFP, and under s. NR 162.03 (1) (c) if the municipality is not a violator of an effluent limitation as defined in s. 281.58 (1) (e), Stats.

PR2 . . . is the percentage of the project being financed by the CWFP that is eligible under s. NR 162.04 (1) (b), and under s. NR 162.03 (c) if the municipality is a violator of an effluent limitation as defined in s. 281.58 (1) (e), Stats.