90.50A.050 - Loans from fund -- Requirements for recipients.

Loans from fund — Requirements for recipients.

Any public body receiving a loan from the fund shall:

     (1) Appear on the annual project priority list to be identified for funding under section 212 of the federal water pollution control act amendments of 1987 or be eligible under sections 319 and 320 of that act;

     (2) Submit an application to the department;

     (3) Establish and maintain a dedicated source of revenue or other acceptable source of revenue for the repayment of the loan; and

     (4) Demonstrate to the satisfaction of the department that it has sufficient legal authority to incur the debt for which it is applying.

[1988 c 284 § 6.]