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Wisconsin Administrative Code (Last Updated: January 10, 2017) |
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Agency ATCP. Department of Agriculture, Trade and Consumer Protection |
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Chapters 140-. Marketing |
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Chapter 161. Agricultural Development And Market Promotion |
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SubChapter VI. "Grow Wisconsin Dairy Producer" Grant and Loan Program |
Section 161.66. Grant and loan contracts.
Latest version.
- (1) Contract required. A successful grant and loan applicant shall enter into a contract with the department before any funds are distributed to the applicant. No funding commitment is final until a contract is executed.(2) Contract provisions. Each grant and loan contract shall be signed by an authorized representative of the department and the applicant, and shall include provisions to ensure that the grant or loan recipient complies with the provisions of this subchapter, uses grant or loan funds according to its approved proposal, and otherwise meets its obligations to carry out the project in its approved proposal.(3) Contract period. A contract under this section takes effect when signed by an authorized representative of the department. The original term of a grant contract may not be for more than 3 years. The original term of a loan contract may not be for more than 7 years.(4) Payment terms. Every grant and loan contract shall include payment terms and conditions, including a payment schedule if applicable.