Vermont § 4772 - Qualifications for eligibility; certification No loan to an applicant shall be made under this subchapter until:

§ 4772. Qualifications for eligibility; certification No loan to an applicant shall be made under this subchapter until:

• (1) The applicant has certified to VEDA that: (A) all State and federal permits and licenses, including land use, subdivision, water
  supply and wastewater permits, and water supply construction and operating permits,
  necessary to undertake the project for which financing has been sought will be obtained
  prior to expending construction funds under the loan; (B) the applicant has established a rate charge or assessment schedule that will generate
  sufficient revenue to pay the principal and interest on the loan and to pay reasonably
  anticipated costs of operating and maintaining the financed project and the system
  of which it is a part. VEDA may require that the rate charge or assessment schedule
  be approved by VEDA prior to approving a loan. Nothing in this subchapter shall affect
  the obligation of an applicant who is subject to the jurisdiction of the Public Utility
  Commission under 30 V.S.A. §§ 102 and 203(3) to obtain prior approval of a rate change from such Commission pursuant to 30 V.S.A. § 225; (C) if the applicant is subject to the jurisdiction of the Public Utility Commission under
  30 V.S.A. §§ 102 and 203(3), it has obtained the following approvals and has provided VEDA with copies of those
  approvals: