2005 North Carolina Code - General Statutes § 159G-24. Fee imposed on a loan or grant from Wastewater Reserve or Drinking Water Reserve.

§ 159G‑24.  Fee imposed on a loan or grant from Wastewater Reserve or Drinking Water Reserve.

(a)       Amount. – A loan awarded from the Wastewater Reserve or the Drinking Water Reserve is subject to a fee of two and one‑half percent (2 ½%) of the loan. A grant awarded from the Wastewater Reserve or the Drinking Water Reserve is subject to a fee of one and one‑half percent (1 ½%) of the grant. The fee is payable when a loan or grant is awarded.

(b)       Departmental Receipt. – The fee on a loan from the Wastewater Reserve or the Drinking Water Reserve is a departmental receipt and must be applied to the Department's and the Local Government Commission's costs in administering loans from these Reserves. The Department and the Local Government Commission must determine how to allocate the fee receipts between their agencies. The fee on a grant from the Wastewater Reserve or the Drinking Water Reserve is a departmental receipt of the Department and must be applied to the Department's costs in administering grants from these Reserves. (2005‑454, s. 3.)