Form EQP3524 "Clean Water State Revolving Fund (Cwsrf) & Strategic Water Quality Initiatives Fund (Swqif) Loan Application for Financial Assistance for Municipal Applicants" - Michigan

What Is Form EQP3524?

This is a legal form that was released by the Michigan Department of Environment, Great Lakes, and Energy - a government authority operating within Michigan. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on June 1, 2021;
  • The latest edition provided by the Michigan Department of Environment, Great Lakes, and Energy;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form EQP3524 by clicking the link below or browse more documents and templates provided by the Michigan Department of Environment, Great Lakes, and Energy.

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Download Form EQP3524 "Clean Water State Revolving Fund (Cwsrf) & Strategic Water Quality Initiatives Fund (Swqif) Loan Application for Financial Assistance for Municipal Applicants" - Michigan

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MICHIGAN DEPARTMENT OF ENVIRONMENT, GREAT LAKES, AND ENERGY
DIVISION FINANCE DIVISION
C
W
S
R
F
(CWSRF)
LEAN
ATER
TATE
EVOLVING
UND
& S
W
Q
I
F
(SWQIF)
TRATEGIC
ATER
UALITY
NITIATIVES
UND
L
A
OAN
PPLICATION FOR
F
A
M
A
INANCIAL
SSISTANCE FOR
UNICIPAL
PPLICANTS
Authorization language
PART I - FINANCIAL INFORMATION
Questions about Part I should be directed to the Michigan Finance Authority at 517-335-0994.
Project Name
____________________________________________________________________________
CWSRF Project Number
SWQIF Project Number ________________
CWSRF/SWQIF Project DUNS Number __________________
A.
Legal Name of Applicant
The legal name of the applicant may be different than the name of the project. For example,
a county may be the legal applicant for bonding purposes, while the project may be named for
the particular village or township it serves.
B.
Address of Applicant
_____________________________________________________________________________
(Street Address and/or P.O. Box)
(City, State & Zip)
________________________________________________________________________
(Area Code and Telephone Number)
C.
Applicants Financial Institution Information for Wire Transfers (Confirm with your financial
institution its ability to accept wire transfers from the state of Michigan.)
Bank Name
________________________________________________________________
___________________________________________________________________________
(Street Address and/or P.O. Box)
EGLE Environmental Assistance Center
Page 1 of 11
Michigan.gov/EGLE
Phone: 800-662-9278
EQP3524 (Rev. 06/2021)
MICHIGAN DEPARTMENT OF ENVIRONMENT, GREAT LAKES, AND ENERGY
DIVISION FINANCE DIVISION
C
W
S
R
F
(CWSRF)
LEAN
ATER
TATE
EVOLVING
UND
& S
W
Q
I
F
(SWQIF)
TRATEGIC
ATER
UALITY
NITIATIVES
UND
L
A
OAN
PPLICATION FOR
F
A
M
A
INANCIAL
SSISTANCE FOR
UNICIPAL
PPLICANTS
Authorization language
PART I - FINANCIAL INFORMATION
Questions about Part I should be directed to the Michigan Finance Authority at 517-335-0994.
Project Name
____________________________________________________________________________
CWSRF Project Number
SWQIF Project Number ________________
CWSRF/SWQIF Project DUNS Number __________________
A.
Legal Name of Applicant
The legal name of the applicant may be different than the name of the project. For example,
a county may be the legal applicant for bonding purposes, while the project may be named for
the particular village or township it serves.
B.
Address of Applicant
_____________________________________________________________________________
(Street Address and/or P.O. Box)
(City, State & Zip)
________________________________________________________________________
(Area Code and Telephone Number)
C.
Applicants Financial Institution Information for Wire Transfers (Confirm with your financial
institution its ability to accept wire transfers from the state of Michigan.)
Bank Name
________________________________________________________________
___________________________________________________________________________
(Street Address and/or P.O. Box)
EGLE Environmental Assistance Center
Page 1 of 11
Michigan.gov/EGLE
Phone: 800-662-9278
EQP3524 (Rev. 06/2021)
SWQIF LOAN APPLICATION FOR FINANCIAL ASSISTANCE FOR MUNICIPAL APPLICANTS
EQP3524
(City, State & Zip)
Bank Account Number ________________ Bank ABA Routing Number
(should be nine digits)
D
Designated Contacts for this Project
.
1.
Authorized Representative
Name
_______________________________________________________________
Title ___________________________________________________________________
________________________________________________________________________
(Street, P.O. Box)
(City, State & Zip)
(Area Code and Telephone Number)
(E-mail Address)
I f the authorized representative or legal applicant is different from that designated in the
resolution submitted with the project plan, another resolution will be required.
2.
Primary Contact
Name
Title
(Area Code and Telephone Number)
(E-mail Address)
3.
Applicant’s Chief Administrative Officer
Name
4.
Applicant’s Chief Financial Officer
Name
5.
Applicant’s Bond Counsel
Name
Firm
(Street, P.O. Box)
Page 2 of 11
SWQIF LOAN APPLICATION FOR FINANCIAL ASSISTANCE FOR MUNICIPAL APPLICANTS
EQP3524
(City, State & Zip)
(Area Code and Telephone Number)
(E-mail Address)
6.
Applicant’s Financial Advisor
Name
Firm
(Street, P.O. Box)
(City, State & Zip)
(Area Code and Telephone Number)
(E-mail Address)
7.
Consulting Engineer
Name
Firm
(Street, P.O. Box)
(City, State & Zip)
(Area Code and Telephone Number)
(E-mail Address)
E.
Authorizing Statute
Please identify the statute(s) under which you will be bonding to finance this project.
PA 3 (1895)
Part 43, PA 451
PA 35 (1951)
PA 312 (1929)
PA 94 (1933)
(1994)
PA 185 (1957)
PA 76 (1965)
PA 233 (1955)
PA 34 (2001)
PA 279 (1909)
PA 202 (1943)
PA 342 (1939)
PA 129 (1943)
Part 119, PA 451
PA
of
PA 7 (1967)
PA 278 (1909)
(1994)
PA 116 (1923)
Part 47, PA 451
PA 40 (1956)
PA 235 (1947)
(1994)
PA 188 (1954)
Page 3 of 11
SWQIF LOAN APPLICATION FOR FINANCIAL ASSISTANCE FOR MUNICIPAL APPLICANTS
EQP3524
Your bond counsel or financial advisor can assist you in determining the statute under which
your bonding should proceed. Some of the referenced statutes will require the publication of a
notice of intent and/or require the holding of a public referendum, which may need to occur
several months before bonds are issued.
F
Project Estimates
.
The estimated cost of the project should include all costs, whether eligible for loan assistance or
not. The amount to be borrowed from the program should equal the amount necessary to cover
eligible costs plus a 6% contingency less any amount to be secured from another source. The
estimated cost should be rounded to the nearest $5,000. The estimated amount of debt to be
refinanced should be the amount of existing debt obligations that will be refinanced by the loan.
Estimated Total Cost of Project: $ ______________________________________________
Estimated Amount to Be Borrowed from the CWSRF/SWQIF: $ _______________________
Estimated Amount of Debt (if any) to Be Refinanced by the CWSRF/SWQIF Loan: $ _______
Principal Payment Dates
G.
Annual principal payments will be due each year until the debt is retired. Principal payments
must commence in April or October but no later than one year after the targeted date of the
initiation of operation that has been agreed to by the EGLE and the applicant. Principal
payments may be made in 20 or 30 annual installments.
 20 Annual Payments
 30 Annual Payments
Preference for Payment
 April
 October
Proposed First Principal Payment Will Occur On ___________________________________
Proposed Last Principal Payment Will Occur On ___________________________________
H.
Investment Grade Rating
The applicant municipality is required to provide evidence of an investment grade rating before
financing can be completed. The investment grade rating that you intend to utilize to satisfy this
requirement must be for the bonds you intend to issue or for bonds that have the same security
pledged for bond repayment. Your bond counsel or financial advisor can assist you with
assessing options to bring your loan to an investment grade level. Please refer to the
Quarterly Financing Schedule for applicable dates.
Please check the appropriate box below and provide the requested information:
Page 4 of 11
SWQIF LOAN APPLICATION FOR FINANCIAL ASSISTANCE FOR MUNICIPAL APPLICANTS
EQP3524
 The applicant municipality has obtained an investment grade rating, as detailed below:
Fitch’s Long-Term Rating __________
Date _________________________
Type of Borrowing _____________________________________________________
Moody’s Long-Term Rating __________
Date _________________________
Type of Borrowing _____________________________________________________
Standard & Poor’s Long-Term Rating ________ Date __________________________
Type of Borrowing _____________________________________________________
 The applicant municipality will achieve an investment grade rating, as detailed below:
I.
Project Funding from Other Sources
Your CWSRF or SWQIF loan cannot be used to pay for project costs which have been or will be
covered by another source of funding, either public or private (e.g., grants or loans from other
state or federal agencies or cash reserves already on hand). Please list your anticipated project
costs which are to be covered by another source of funding and the source(s) of that funding.
__________________________________________________________________________
__________________________________________________________________________
J.
Capitalized Interest for New Systems (CWSRF Only)
Interest payments on an CWSRF loan are due semi-annually until the debt is retired. For a
qualifying municipality, the amount of interest due during the construction of a new wastewater
collection and treatment system can be included in its loan (i.e., capitalized). This option is
available only if the applicant municipality is constructing a new system and no current utility
system exists to produce revenue for bond payments during the construction period. If you
check the box below, MFA will confirm your qualification and your EGLE project manager will
compute the appropriate amount of capitalized interest to include in your loan.
 The applicant municipality qualifies for and wishes to capitalize interest during construction.
Page 5 of 11