5.110.060 Annual program year and source of funds.
(a) The annual loan program funding fiscal year shall begin July 1st and end June 30th.
(b) The Commission shall include $100,000 in each of its annual operating budget proposals for the loan program for fiscal years 2020 through 2029.
(c) The $100,000 for the loan fund shall be from ratepayer revenue generated by WSSC.
(d) Interest earned on the money in the loan fund shall be credited to the loan fund along with any other money from any other source accepted for the benefit of the loan fund.
(e) The loan fund shall be used only for:
(1) Qualifying loans; and
(2) The administration of costs of the loan program.
(f) The loan program may not:
(1) Provide for more than $1 million in total loans; or
(2) At any time have outstanding more than $1 million in total loans. (Res. 2019-2218)