Glossary of Terms

Glossary of Terms
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Applicant: Any local government unit (or other eligible institution) that applies for Water Bank funding.

Authorization to Advertise: Written authorization of the applicant by DEP to advertise contracts for solicitation of bid proposals for building.

Authorized Official (H2LOans): The Authorized Official is the person responsible for setting up an organization's account in the H2LOans system. This person must be a full-time employee of a project sponsor/applicant's organization, who is authorized to obligate the organization. The Authorized Official designates the sponsoring organizations internal project manager (Authorized Representative).

Authorized Representative (H2LOans): Representatives designated by the Authorized Official to function as the project manager. They are responsible for designating Collaborators and submitting any uploaded and final documentation.

Bond counsel: An attorney or law firm retained by the applicant to give a legal opinion on the issuance of municipal bonds, including whether the bond has been validly issued and whether the bond is tax exempt. The Water Bank requires applicants to secure bond counsel by the Authorization to Advertise.

Brownfield: Any former or current commercial or industrial site that is currently vacant or underutilized and on which there has been, or there is suspected to have been, a discharge of a contaminant.

Collaborators: Collaborators are designated by an Authorized Representative and include any individual involved in a project who is to have access to the on-line H2LOans system to facilitate the design, construction, financial or legal work associated with such project.

Combined Sewer Overflow (CSO) Communities: Communities where the sanitary and storm sewers are combined, and where piping networks direct both sewage and stormwater to a central treatment system before being discharged into a waterway. There are 21 CSO communities in New Jersey.

Gray Infrastructure: Gray infrastructure refers to traditional practices for stormwater and wastewater management, such as cleaning or replacing pipes, sewer separation, expansion of the sewage treatment plant, or treating the wastewater at the outfall

Green Infrastructure (GI): Green Infrastructure refers to methods of stormwater management that complement gray infrastructure by reducing wet weather/stormwater runoff volume or flow, or by changing the characteristics of the flow into combined or separate sanitary or storm sewers or surface waters, by allowing the stormwater to infiltrate, to be treated by vegetation or by soils, or to be stored for reuse. GI practices include, but are not limited to, pervious paving, rain gardens, street tree trenches, and cisterns. The use of green infrastructure encourages the idea that stormwater is a resource that can be reused, instead of being treated as a nuisance that needs to be removed as quickly as possible.

H2LOans: Online application and document sharing portal for Water Bank financing located at Call (609) 219-8601 to set up an account for your system.

Local Environmental Enhancement Planning Activities: Activities that encourage and facilitate implementation of environmentally sustainable practices at the local government level.

Long-term financing: Water Bank loans issued upon completion of project construction intended to refinance previously issued short-term loans for construction, and planning and design activities. Loan terms are limited to the useful life of a project with a maximum loan term of 30 years (45 years for CSO-related projects. Borrowers may choose a shorter term than the useful life of the project if they desire a more fiscally conservative repayment schedule.

Nano: Small drinking water systems serving communities with populations of 10,000 residents or less.

Priority System: describes the ranking methodology for the municipal water pollution control projects that are eligible for financial assistance through the Water Bank.

Project Priority List: identifies projects targeted for financial assistance from the CWSRF and identifies the estimated total eligible building costs under the appropriate project category.

Professional Services: services rendered or performed by a person authorized by law to practice a recognized profession.

Rating (or investment rating): representation of an issuer's (the Applicant) ability to repay its debt. There are three (3) Nationally Recognized Statistical Rating Organization (NRSRO) agencies that provide credit ratings for applicants that are acceptable to the Water Bank for satisfying the Program's credit worthiness standards: Fitch Ratings, Moody's Investors Service, Standard & Poor's Global Ratings. 

Sub-Agreement: a contract for professional services executed directly between the applicant and a professional service provider.

Short-Term financing: Water Bank loans available for up to 3 full fiscal years, or up to the statutorily permitted term, to finance the cost of environmental planning and engineering design activities incurred, and project construction upon application approval. Pending Legislation, if signed, would add up to an additional two years for Planning and Design activities.

Glossary of Terms
Next: Partners