§ 54-0511 — Loans for municipal landfill closure projects and municipal landfill gas management projects

§ 54-0511. Loans for municipal landfill closure projects and municipal\n landfill gas management projects.\n 1. A municipality eligible for a state assistance payment pursuant to\nsubdivision two of section 54-0509 of this title and which has a\npopulation smaller than thirty-five hundred as determined by the current\nfederal decennial census is also eligible for a loan to a maximum of the\nunfunded portion of such project.\n 2. Loans pursuant to this title shall be without interest and for a\nterm not to exceed twenty years.\n 3. Loan repayments under this title shall be deposited to the credit\nof the environmental protection fund pursuant to subdivision two of\nsection ninety-two-s of the state finance law.\n 4. A municipality obtaining a loan under subdivision one of this\nsection shall enter into a contract with the commissioner. That contract\nshall contain the following provisions:\n a. the loan shall be repaid in appropriate equal installments. There\nshall be a one percent per month surcharge for each month of delinquent\npayment added to any such installment tendered more than sixty days\nafter the due date.\n b. in the event a municipality shall fail to make any payment due to\nthe state pursuant to this title, the commissioner shall certify to the\ncomptroller and notify the chairman of the assembly ways and means\ncommittee, the chairman of the senate finance committee, the director of\nthe division of the budget and the governing body of the municipality\nthat such municipality has failed to make such payment. Such certificate\nshall be in the form as may be determined by the commissioner provided\nsuch certificate shall specify the exact amount of principal and\nsurcharge required to satisfy such municipality's unpaid obligation. The\ncomptroller, upon receipt of such certificate from the commissioner,\nshall withhold from such municipality any state aid payable to it to the\nextent necessary to meet the certified amount of principal and surcharge\ndue the commissioner and shall immediately pay over to the environmental\nprotection fund the amount so withheld.\n