5.110.010 Definitions.
In this chapter, the following terms have the meanings indicated:
(a) “Administrator” means the entity selected by WSSC to administer the loans.
(b) “Applicant” means a residential customer of the Commission that applies for a loan under the loan program.
(c) “Borrower” means a customer that has received a loan from the loan fund.
(d) “Commission” or “WSSC” means the Washington Suburban Sanitary Commission.
(e) “Customer” means a residential customer of the Commission who owns the property upon which the water service pipe from the residence to the Commission’s service connection is located.
(f) “Lien” means a lien held in the sole name of the Commission established in the land records of the county where the residential property is located securing repayment of:
(1) The loan, including principal, interest, late charges, cost of collection; and
(2) Reasonable attorney’s fees.
(g) “Loan” means funds borrowed from the Commission in accordance with the loan program.
(h) “Loan credit criteria” means the financial credit criteria established by the Commission that an applicant must meet to qualify for a loan from the loan program.
(i) “Loan fund” means the water connection pipe emergency replacement fund.
(j) “Loan program” means the water connection pipe emergency replacement loan program.
(k) “Loan program eligibility criteria” means the criteria an applicant must meet to qualify to participate in the loan program.
(l) “Loan repayment schedule” means the payment schedule providing the monthly payments of principal and interest over the term of the loan.
(m)
(1) “Pipe” means a water service pipe connection located on a customer’s property that connects from the Commission’s service connection to a customer’s residence.
(2) “Pipe” includes polybutylene pipes.
(n) “Ratepayer revenues” mean those funds generated by Commission ratepayers in the current fiscal year.
(o) “Residential property” means the borrower’s property upon which the lien is placed. (Res. 2019-2218)