NAC445A.728. Purpose and use of revolving fund created pursuant to Clean Water Act.

     1. The primary purpose of the fund is to provide financial assistance as described in this section, other than grants, to municipalities for the construction of publicly owned wastewater treatment works and for the implementation of programs for the management of nonpoint sources of water pollution.

     2. The fund may be used to:

     (a) Provide a loan at or below the market rate of interest;

     (b) Guarantee a municipal obligation or purchase insurance for such an obligation if required to improve access to credit or reduce the rate of interest paid by the municipality; or

     (c) Refinance a municipal obligation for an eligible wastewater facility at or below market rates if the debt is incurred and construction begins after March 7, 1985. A municipality that requests refinancing must comply with all the requirements of NAC 445A.685 to 445A.805, inclusive.

     (Added to NAC by Environmental Comm’n, eff. 9-19-90)—(Substituted in revision for NAC 445.42093)