Louisiana Revised Statutes 30:2302 – Clean Water State Revolving Fund; established
Terms Used In Louisiana Revised Statutes 30:2302
- CWSRF: means the water pollution control revolving loan fund previously established by Act No. See Louisiana Revised Statutes 30:2301
- Department: means the Department of Environmental Quality. See Louisiana Revised Statutes 30:2301
- Federal act: means the Clean Water Act of 1972, as amended by the Water Quality Act of 1987, specifically Subchapter VI, Chapter 26 of Title 33 of the United States Code, and any amendments thereto relating to water pollution control revolving loan funds established by the respective states, including the CWSRF. See Louisiana Revised Statutes 30:2301
- Federal regulations: means Part 35, Title 40 of the Code of Federal Regulations (Louisiana Revised Statutes 30:2301
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
A. The Clean Water State Revolving Fund is hereby established and shall be maintained and operated by the department. Grants from the federal government allotted to the state for the capitalization of the CWSRF, and state funds when required, or otherwise made available, shall be deposited directly in or credited to the account of the CWSRF in compliance with the terms of the federal or state grant. The CWSRF shall provide assistance to eligible recipients for any activities of the CWSRF as may be permitted by the federal act or federal regulations and by this Chapter.
B. The department is authorized to enter into contracts and other agreements in connection with the operation of the CWSRF including but not limited to credit enhancement devices, guarantees, pledges, interest rate swap agreements, contracts and agreements with federal agencies, political subdivisions, public trusts, agencies or commissions of the state, and other parties to the extent necessary or convenient for the implementation of the CWSRF. The department shall maintain full authority for the operation of the CWSRF in accordance with applicable federal and state law.
Acts 2010, No. 296, §1, eff. June 17, 2010.