Sec. 119.107. - Availability of appropriations under State Revolving Fund loan programs.

Appropriations under State Revolving Fund loan programs shall be available for obligation and disbursement in accordance with the terms of the loan document and applicable State regulations, but in no case before the beginning of the period stated in the appropriation ordinance as the fiscal period of the loan or after the close of such period, unless extended or renewed by the Council; provided, that if the State Department of Environmental Protection in writing extends the period of the loan program and authorizes the City to spend the loan funds during the extended period of time, without increasing the amount of loan funds already appropriated by the Council, the appropriations under that loan program shall be automatically extended for the additional period authorized by the State Department of Environmental Protection and the fiscal period of the loan program shall be automatically extended for a like period. Upon the termination of the fiscal period, the unobligated balances of such appropriations shall be available only to pay the expenses of terminating the loan program and winding up its affairs, subject to the approval of the Council, unless otherwise provided by the Council. Extensions or renewals of the loan program automatically or by the Council, involving as well extensions or renewals of the fiscal period of the program, shall be considered for the purposes of this Section as part of the original fiscal period. Documentation of the extension of a loan shall be provided to the Council Secretary and to the Council Auditor. (Ord. 89-547-234, § 1)