63N-24-605. Eligibility for assistance -- Applications -- Review by board -- Terms -- Security.
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Effective 7/1/2026
63N-24-605. Eligibility for assistance -- Applications -- Review by board -- Terms -- Security.
(1)To receive a loan or grant under this part, a county or the Tribe shall submit an application to the board that contains the information required by the board.
(2)The board may not fund:
(a)start-up or operational costs of private business ventures; and
(b)general operating budgets of the counties or the Tribe, except that the Tribe may use a grant or loan to fund costs associated with the management and administration of energy or mineral development on:
(i)lands held in trust by the United States for the Tribe and the Tribe's members; or
(ii)lands owned by the Tribe.
(a)The board shall review each application for a loan or grant before approving a loan or grant application.
(b)The board may approve a loan or grant application subject to the applicant's compliance with the conditions established by the board.
(c)The board shall:
(i)ensure that each loan specifies the terms for repayment; and
(ii)secure the loans by proceeds from any general obligation, special assessment, or revenue bonds, notes, or other obligations of the appropriate subdivision.
Renumbered and Amended by Chapter 393 , 2026 General Session