Section 294.100  Definitions

The following definitions are used in this Part:

"Applicant" means a unit of local government, including any municipality, township, township fire department, or special district such as a fire protection district that operates a fire department or provides fire suppression services itself without contracting those services from another entity.

"Authority" means the Illinois Finance Authority created by the Illinois Finance Authority Act [20 ILCS 3501] or its successor agency.

"Board" means the governing body of the entity receiving the loan.

"Committee" means the Loan Application Review Committee established in Section 294.140.

"Fire department" means a fire department, fire protection district or township fire department that is a unit of local government in Illinois that provides fire suppression within a geographical area.  For purposes of this Part, fire department is defined to include volunteer fire departments and volunteer fire protection districts.

"Fire station" means a building or structure set aside for storage of firefighting apparatus (including fire trucks, pumpers, ladder trucks, elevating platforms, rescue trucks, tankers, brush trucks, squad trucks, ambulances and related vehicles), personal protective equipment, fire hose and other fire extinguishing equipment.  It may also include dormitory living facilities and work areas such as offices, meeting rooms, workshops or laundry facilities.  The term includes additions to existing buildings as well as new construction.

"Funding date" means the date on which a zero-interest or low-interest loan is closed and funded.

"Low-interest loan" means a loan with a rate of interest lower than commercially available.

"Office" means the Office of the State Fire Marshal.

"Program" means the Illinois Fire Station Revolving Loan Program.

"Recipient" means an applicant that has successfully applied for and received all required approvals from the Office and the Authority, agreed to and executed loan documentation prepared by the Authority, and closed and funded its fire station loan.