16.141 - UNSEWERED COMMUNITY REVOLVING LOAN PROGRAM -- FUND.
16.141 UNSEWERED COMMUNITY REVOLVING LOAN PROGRAM --
FUND.
1. The authority shall establish and administer an unsewered
community revolving loan program. Assistance under the program shall
consist of no-interest loans with a term not to exceed forty years
and shall be used for purposes of installing sewage disposal systems
in a city without a sewage disposal system or in an area where a
cluster of homes is located.
2. An unsewered community may apply for assistance under the
program. In awarding assistance, the authority shall encourage the
use of innovative, cost-effective sewage disposal systems and
technologies. The authority shall adopt rules that prioritize
applications for disadvantaged unsewered communities.
3. For purposes of this section, "an area where a cluster of
homes is located" means an area located in the unincorporated area
of a county which includes six or more homes but less than five
hundred homes.
4. An unsewered community revolving loan fund is created in the
state treasury under the control of the authority and consisting of
moneys appropriated by the general assembly and any other moneys
available to and obtained or accepted by the authority for placement
in the fund.
5. Repayments of moneys loaned and recaptures of loans shall be
deposited in the fund.
6. Moneys in the fund shall be used to provide assistance under
the unsewered community revolving loan program established in this
section.
7. Moneys in the fund are not subject to section 8.33.
Notwithstanding section 12C.7, interest or earnings on moneys in the
fund shall be credited to the fund. Section History: Recent Form
2009 Acts, ch 76, §1