OAR 123-049-0027: Contract Requirements and Disbursement of Funds

(1) The Authority shall disburse monies from the Fund only after entering into a binding contract with the Recipient. (2) The contract shall be in a form provided by the Authority. (3) Other funds that may be needed to complete the project must be available or the Recipient must have a binding commitment for such funds at the time the contract is executed. If a portion of the other funds needed to complete the project is committed but not yet available at the time an award is made or the contract executed, the contract shall require that no disbursement of funds for construction activities may occur until the project is fully funded. (4) Contracts for privately owned water systems receiving subsidy award shall be conditioned to adhere to OAR 123-049-0050.