§ 46-12.2-7 - Payment of state funds – Agreement between agency and department.
SECTION 46-12.2-7
§ 46-12.2-7 Payment of state funds –Agreement between agency and department. – (a) Subject to the provisions of subsection (d) of this section, upon thewritten request of the agency, the state general treasurer shall pay to theagency, from time to time, from the proceeds of any bonds or notes issued bythe state for the purposes of this chapter or funds otherwise lawfully payableto the agency for the purposes of this chapter, amounts equal to twenty percent(20%) of each federal capitalization grant award received or expected to bereceived by the agency under title VI of the Clean Water Act, 33 U.S.C. §1381 et seq., plus such other amounts as shall have been appropriated orlawfully designated. All amounts so paid to the agency shall be credited to thewater pollution control revolving fund to be applied as provided in §46-12.2-6.
(b) Subject to the provisions of subsection (d), upon thewritten request of the agency, the state general treasurer shall pay to theagency, from time to time, from the proceeds of any bonds or notes issued bythe state for the purposes of this chapter or funds otherwise lawfully payableto the agency for the purposes of this chapter, such amounts as shall have beenappropriated or lawfully designated to meet the requirements of the localinterest subsidy trust fund. All amounts so paid shall be in addition to anyother amounts credited or expected to be credited to such fund, and shall becredited to the local interest subsidy trust fund.
(c) Subject to the provisions of subsection (d), upon thewritten request of the agency, the state general treasurer shall pay to theagency, from time to time, from the proceeds of any bonds or notes issued bythe state for the purposes of this chapter or funds otherwise lawfully payableto the agency for the purposes of this chapter, such amounts as shall have beenappropriated or lawfully designated for the Rhode Island water pollutioncontrol revolving fund. All amounts so paid to the agency shall be credited tothe Rhode Island water pollution control revolving fund.
(d) The director of the department and the governor shallenter into, execute, and deliver one or more agreements with the agency settingforth or otherwise determining the terms, conditions, and procedures for, andthe amount, time, and manner of payment of, all amounts available from thestate to the agency under this section. The agreement or agreements may includesuch covenants and undertakings of the state, the agency, and the department asthe governor, the agency, and the director of the department deem reasonable,including, without limitation, provision for payments by the state in advanceof receipt of federal capitalization grant awards, or the execution anddelivery of loan agreements by the agency and covenants and undertakings by thestate to make payments in the future of amounts appropriated by the state whenrequired by the agency or by the provisions of any trust agreement securingbonds. The agreement or agreements may also include provisions consistent withthis chapter governing the application by the agency of amounts appropriated ordesignated by the state to the water pollution control revolving fund, theRhode Island water pollution control revolving fund, and the local interestsubsidy trust fund and the remedies of the agency provided in §46-12.2-8(h).