Sec.13a-175u-6. Funding

(a) After a supplemental application is deemed complete by the Commissioner he shall enter into a project loan agreement or a project grant agreement or both, as the case may be, with the filing municipality, pursuant to which the State shall, on the date all of the conditions precedent to funding are met, pay to the municipality the project grant or make the project loan, or both.

(b) Subject to the terms and conditions set forth in each project grant agreement and project loan agreement, the Commissioner shall be obligated to fund the amount of project costs equal to the sum of (1) the municipality's grant percentage multiplied by the project costs allocable to such municipality and (2) the project loan amount requested by the municipality up to 50% of the project costs allocable to it.

(c) In addition to any other conditions precedent to funding the project established by the Commissioner, each project grant agreement and project loan agreement shall include the following conditions precedent to funding, if applicable:

(1) certified copies of all bids of contractors;

(2) written justification for awarding the construction contract to any person other than the lowest bidder;

(3) evidence that the municipality and contractor have entered into a legally binding construction contract;

(4) the municipality has available to it, or has made arrangements satisfactory to the Commissioner to obtain, funds to pay that portion of the project costs for which it is legally obligated and which are not met by project loans or project grants;

(5) the municipality has established a tax exempt proceeds fund account for the receipt and disbursement of the proceeds of project loans and project grants;

(6) in any case in which an eligible bridge is owned or maintained by more than one municipality, evidence satisfactory to the Commissioner that all such municipalities are legally bound to complete their respective portions of such project; and

(7) evidence that the legislative body of the municipality has held at least one public hearing on the eligible bridge project in accordance with subsection (b) of section 13a-175t of the Connecticut General Statutes.

(d) In addition to any other agreement of a municipality required by the Commissioner, each project grant agreement and project loan agreement shall contain the following agreements:

(1) the municipality will commence construction of the project within 30 days after the date such agreement or agreements are entered into, unless otherwise extended by the Commissioner;

(2) the municipality will complete such project no later than the date of completion set forth in its supplemental application, unless otherwise extended by the Commissioner;

(3) the municipality will operate and maintain the eligible bridge properly after completion of such project.

(Effective October 24, 1984; Amended October 7, 1999)