California Boating Law

TITLE 14

5102

DEPARTMENT OF BOATING AND WATERWAYS

(j) ‘‘Project Costs.’’ Those contract, equipment, labor, material and construction costs which are incurred by the applicant for the purpose of completing the project; however, such project costs shall not include indirect or overhead charges incurred by the applicant for its own personnel. (k) ‘‘Reserve Fund.’’ A separate and independent fund for the exclusive purpose of providing extraordinary, non-routine maintenance, repair or replacement during the loan period. ( l ) ‘‘Surplus Revenues.’’ Revenues received by an applicant from any source within a project area less the applicant’s expenses for (1) loan repayment, and (2) operation and maintenance (including the Reserve Fund) of the project; tax revenues may be considered as a revenue source. (m) ‘‘Unpaid Balance.’’ Total outstanding debt, including principal, interest and penalties, if applicable. (n) ‘‘Vessel Pumpout Facilities.’’ Vessel sewage pumpout facilities. NOTE: Authority cited: Sections 63.9(e) and 71.4, Harbors and Navigation Code. Reference: Sections 71.4, 85.2 and 87, Harbors and Navigation Code. 5102. Application. (a) Preliminary Coordination: Loans will be processed in accordance with departmental guidelines and criteria. The applicant may seek departmental assistance in formulating the project. (b) Preliminary Study: The applicant’s formal request for a loan will not be submitted until the department’s reconnaissance survey of the proposed project area has determined the initial acceptability of the project and the applicant has been so notified. (c) Formal Application: Upon receipt of a favorable preliminary report from the department, the applicant may make a formal loan application which shall include: (1) Feasibility Study: A report containing sufficient information and detail to demonstrate that the project is both engineeringly and financially feasible. The report shall include, but not be limited to: (A) A project plan and map which establishes the project area and location. (B) Preliminary project layout and designs of project features in sufficient detail to develop accurate cost estimates. (C) A plan for operational and fiscal management of the project through- out the loan period. (D) The proposed method and means of retiring the loan, meeting other financial obligations of the project, and, if the project is to be undertaken with funds in addition to the loan applied for, a funding plan indicating the sources of such additional construction funds.

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