§ 1721.105 - Application documents.

§ 1721.105 Application documents.

Cross Reference

Link to an amendment published at 84 FR 32616, July 9, 2019.

(a) Deferments for financial hardship. A Borrower requesting a section 12 deferment because of financial hardship must submit the following:

(1) A summary of the financial position of the Borrower, based on the latest information available (usually less than 60 days old).

(2) A copy of the board resolution requesting an extension due to financial hardship.

(3) A 10-year financial forecast of revenues and expenses on a cash basis, by year, for the period of the extension and 5 years beyond to establish that the remaining payments can be made as rescheduled.

(4) A listing of notes or portions of notes to be extended, the effective date for the beginning of the extension, and the length of the extension.

(5) A narrative description of the nature and cause of the hardship and the strategy that will be instituted to mitigate or eliminate the effects of the hardship.

(b) Deferments for energy resource conservation loans. A Borrower requesting principal principle deferments for an ERC loan program must submit the following information:

(1) A

a letter from the Borrower's General Manager requesting an extension of

principal

principle payments for the purpose of offering an ERC loan program to its members and describing the details of the program.

(

2) A copy of the board resolution establishing the ERC loan program.

(c) Deferments for renewable energy projects. A Borrower requesting principal principle deferments for its renewable energy project must submit the following information:

(1) A

a letter from the Borrower's General Manager requesting an extension of

principal

principle payments for the purpose of

financing a renewable energy project

offering an ERC loan program to its members and describing the details of the

project

program.

(

2) A copy of the board resolution establishing the renewable energy project.

(d) Deferments for distributed generation projects. A Borrower requesting principal principle deferments for distributed generation projects must submit the following information and approval is also subject to any applicable terms and conditions of the Borrower's loan contract, mortgage, or indenture:

(1) A

a letter from the Borrower's General Manager requesting an extension of

principal

principle payments for the purpose of

financing distributed generation projects

offering an ERC loan program to its members and describing the details of the

project, and (2) A copy of the board resolution establishing the distributed generation projects program

program and approval is also subject to any applicable terms and conditions of the Borrower's loan contract, mortgage, or indenture.

(e) Deferments for contribution-in-aid of construction. A Borrower requesting principal principle deferments for contribution-in-aid of construction must submit the following information:

(1) A letter from the Borrower's General Manager requesting an extension of principal principle payments for the purpose of offering a contribution-in-aid of construction program an ERC loan program to its members and describing the details of the program.

(2) A copy of the board resolution establishing the contribution-in-aid of construction program.

(3) A

summary of the calculations used to determine the average cost per residential

consumer

customer. (See § 1721.104(e)(2)).

[67 FR 485, Jan. 4, 2002, as amended at 68 FR 37954, June 26, 2003; 84 FR 32616, July 9, 2019]