18 AAC 76.205. Types of financial assistance

(a) The Alaska drinking water fund may be used to

(1) make loans to drinking water systems eligible for assistance under 18 AAC 76.210 for eligible projects and activities under 18 AAC 76.215;

(2) buy or refinance the debt obligation of a municipality or a combination of municipalities if the debt obligation is incurred and construction started after July 1, 1993;

(3) guarantee or purchase insurance for a debt obligation, all of the proceeds of which finance an eligible project under 18 AAC 76.215, if the guarantee or purchase would improve the marketability of the obligation or reduce the interest rate applicable to the obligation; and

(4) earn interest on the amounts deposited in the fund.

(b) The department may apply a portion of the capitalization grant received under 42 U.S.C. 300j-12 (Safe Drinking Water Act) to cover the department's reasonable costs of administering the Alaska drinking water fund and to provide technical assistance to an eligible drinking water system.

History: Eff. 8/2/97, Register 143; am 3/14/2002, Register 161

Authority: AS 46.03.020

AS 46.03.036

AS 46.03.720

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