Conditions for Disbursement of Funds

Conditions for Disbursement of Funds. A Grant and/or Loan Agreement will be executed between the Rural Community/Business and MDA. The Agreement must be signed within one month of the grant award date. MDA will release Mississippi Rural Impact Program funds for services rendered, or on a reimbursement basis, for approved eligible costs of the project, as incurred. The Rural Community shall certify to MDA during construction that the expenses were incurred and were in accordance with the plans and application approved by MDA. Funds will be released upon receipt of the Mississippi Rural Impact Program Request for Cash and supporting documentation from the rural community. Funds may not be disbursed more frequently than monthly. Rural communities have one year from the date of the award to expend the funds under the Mississippi Rural Impact Program.