Exceptional Disaster Relief Loan Application
When the President of the United States declares an area a federal disaster area and a municipality has applied for federal emergency assistance for the Federal Emergency Management Administration the Governor with the approval of the executive council, may approve a loan in the amount up to the anticipated assistance from FEMA from funds not otherwise appropriated.
In order to be eligible for an Exceptional Disaster Relief Loan, the pre-occurrence cost of a municipality's critical disaster relief project or projects shall equal or exceed 25% of the amount raised by local property taxes in the municipality's last annual budget.