61-28.2 Water Pollution Control Revolving Loan Fund
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<![CDATA[CHAPTER 61-28.2WATER POLLUTION CONTROL REVOLVING LOAN FUND61-28.2-01.Water pollution control revolving loan fund program - Purposes -Establishment - Capitalization of fund - Disposition of moneys - Administration.1.It is the determination of the legislative assembly that the federal funds for the<br>administration and implementation of the federal wastewater construction grants<br>program will decline within the years to come, thereby decreasing the amount of<br>funds that the state will have to operate and carry out the functions that it has been<br>assigned to accomplish.In order to continue to provide funds to politicalsubdivisions for the planning, design, construction, and rehabilitation of wastewater<br>treatment facilities, public water supply systems, and other lawful activities<br>connected with this program, it is the purpose of this section to provide for the<br>establishment of a revolving loan fund to be capitalized by federal grants, matching<br>state funds when required, and by any other funds generated by the operation of the<br>revolving loan fund.2.There is established the water pollution control revolving loan fund, which must be<br>maintained and operated by the state department of health. Grants from the federal<br>government or its agencies allotted to the state for the capitalization of the revolving<br>loan fund, and state matching funds when required, must be deposited directly in the<br>revolving loan fund in compliance with the terms of the federal grant. Money in the<br>revolving loan fund must be expended in a manner consistent with terms and<br>conditions of the grants received by the state and may be used to offer loan<br>guarantees; to provide payments to reduce interest on loans and loan guarantees; to<br>make bond interest subsidies; to provide bond guarantees on behalf of<br>municipalities, other local political subdivisions, and intermunicipal or interstate<br>agencies; to provide assistance to a municipality, other local political subdivisions, or<br>intermunicipal or interstate agencies with respect to the nonfederal share of the<br>costs of a project; to finance the cost of facility planning and the preparation of plans,<br>specifications, and estimates for construction of publicly owned treatment works or<br>public water supply systems; to provide financial assistance for the construction and<br>rehabilitation of a project on the state priority list; to secure principal and interest on<br>bonds issued by a public trust having the state of North Dakota as its beneficiary, or<br>the public finance authority if the proceeds of such bonds are deposited in the<br>revolving loan fund and to the extent provided in the terms of the federal grant; to<br>provide for loan guarantees for similar revolving funds established by municipalities,<br>other local political subdivisions, or intermunicipal agencies; to purchase debt<br>incurred by municipalities or other local political subdivisions for wastewater<br>treatment projects or public water supply systems; to improve credit market access<br>by guaranteeing or purchasing insurance or other credit enhancement devices for<br>local obligations or obligations of a public trust having the state of North Dakota as<br>its beneficiary or the public finance authority; to fund other programs which the<br>federal government authorizes by the terms of its grants; to fund the administrative<br>expenses of the department associated with the revolving loan fund; and to provide<br>for any other expenditure consistent with the federal grant program and state law.<br>Money not currently needed for the operation of the revolving loan fund or otherwise<br>dedicated may be invested. All interest earned on investments must be credited to<br>the revolving loan fund.3.The department shall administer the revolving loan fund. The department may enter<br>into contracts and other agreements in connection with the operation of the revolving<br>loan fund, including contracts and agreements with federal agencies, political<br>subdivisions, public trusts having the state of North Dakota as beneficiary or the<br>public finance authority, and other parties to the extent necessary or convenient for<br>the implementation of the revolving loan fund program.The department shallmaintain full authority for the operation of the revolving loan fund in accordance with<br>applicable federal and state law.Page No. 14.The department has the following powers and duties in regard to the revolving loan<br>fund:a.To apply for and accept grants of money from the United States environmental<br>protection agency or other federal agencies for the purpose of making funds<br>available to political subdivisions for the planning, design, construction, and<br>rehabilitation of wastewater treatment facilities, public water supply systems,<br>and other related activities.The department may contract to receive suchgrants, agree to match the grant in whole or in part when required, and to<br>comply with applicable federal laws and regulations in order to secure the<br>grants. Money received through these grants and state matching funds must<br>be deposited into the water pollution control revolving loan fund or used for<br>appropriate administrative purposes.b.To administer the revolving loan fund as established. The department may<br>enter into contracts and other agreements in connection with the operation of<br>the revolving loan fund to the extent necessary or convenient for the<br>implementation of the revolving loan fund program.c.To administer and disburse funds in accordance with the federal Clean Water<br>and Safe Drinking Water Acts, as amended.d.To adopt rules as necessary to carry out the provisions of this chapter and<br>meet the requirements of the federal Clean Water and Safe Drinking Water<br>Acts, as amended.Page No. 2Document Outlinechapter 61-28.2 water pollution control revolving loan fund]]>