[Ord. No. 15-27 §1, 10-12-2015]
A.
The Finance Department is authorized to administer a financial assistance program related to the implementation of the Fats, Oils, Grease and Sand (FOGS) project detailed in Code Section 715.190.
B.
Council may authorize use of the financial assistance program by
resolution for projects, activities or work (actions) for which funds
have been or will be set aside in the budget or by amendment to the
budget. The department involved with the actions shall provide a written
recommendation outlining the public health and safety issues involved
in the actions and the need to assure that the actions can be accomplished
in a timely manner through use of the financial assistance program.
Upon approval of the Director of Finance and the City Administrator
of the recommendation and upon presentation to and approval of the
use of the financial assistance program by Council resolution above,
the recommending department will be authorized to use the financial
assistance program.
C.
The Director of Finance is authorized to promulgate rules and regulations
to implement the financial assistance program, subject to approval
by the City Administrator and notice to the City Council. Such rules
and regulations shall become effective twenty (20) days after they
have been filed with the City Clerk, with notice thereof to the City
Council. The rules and regulations may be amended using this procedure.
D.
The rules and regulations shall include, but not be limited to, the
following criteria for applicants desiring to participate in the program:
1.
A requirement for a description of the actions to be financed
pursuant to this program. The actions shall be by individuals or entities
with a valid business license issued by the City of Republic or by
individuals or entities exempt from a business license requirement,
and all necessary permits to perform such actions must be obtained.
The property owner or an authorized agent must submit bids for the
actions to the City from two (2) licensed businesses before performance
of the actions and subject to approval of the bids by the City.
2.
For individuals or entities to be eligible for the program,
the individual or entity shall be current on all sums due the City
and, if applicable, shall provide a no-tax-due letter from the State
of Missouri and shall have a current City business license.
3.
Disbursements of financial assistance to participants shall
be by check payable jointly to the participant and the business that
performs the actions after the actions are satisfactorily completed,
inspected and accepted by the City.
4.
The maximum amount of any financial assistance for the performance
of the FOGS project shall be one hundred percent (100%) up to one
thousand dollars ($1,000.00) and fifty percent (50%) of any amount
beyond one thousand dollars ($1,000.00) with the total dollar amount
of the loan not to exceed five thousand dollars ($5,000.00). The total
amount of financial assistance will be repaid in equal monthly payments
over a term not to exceed thirty-six (36) months at an interest rate
of two percent (2%). Participants shall be required to execute such
assurances of repayment as may be required by the rules and regulations
promulgated by the Finance Director. Upon Council adopting a resolution
to include other actions in a financial assistance program, the resolution
may include limits on the not-to-exceed percent of assistance, a not-to-exceed
dollar amount, a term length and interest amount based upon the specific
nature of the projects, activities or work (actions).
5.
Notwithstanding the provisions of this Subsection, the unpaid
balance of the financial assistance, together with accrued interest,
shall become due and payable upon sale or transfer of such real property,
whether voluntary or involuntary.
6.
Failure to make timely repayment or to remain qualified for
participation in the financial assistance program may result in and
is cause for revocation of a business license in addition to such
other remedies as the City may have under the program, the City Code
or laws of the State of Missouri for collection of any outstanding
balance due the City.
