2006 Louisiana Laws - RS 40:2824 — Drinking water revolving loan fund

§2824.  Drinking Water Revolving Loan Fund

A.  There is hereby established the Drinking Water Revolving Loan Fund, hereinafter referred to in this Chapter as the "drinking water loan fund", which shall be maintained and operated by the Department of Health and Hospitals.  Federal capitalization grants, less any set-aside amounts authorized by this Chapter, which are received by the Department of Health and Hospitals, office of public health, shall be deposited into or credited to the drinking water loan fund in compliance with the terms of the grant.  State matching funds, when required or otherwise made available, shall be deposited directly in or credited to the drinking water loan fund in compliance with the terms of the capitalization grant agreement.

B.  The Department of Health and Hospitals, office of public health, shall segregate the funds associated with the drinking water loan fund as may be required by the federal act, grant agreements, or interagency agreements.  The Department of Health and Hospitals shall keep any accounts associated with the drinking water loan fund separate from any accounts associated with the Municipal Facilities Revolving Loan Fund authorized in R.S. 30:2078 et seq.

C.  The Department of Health and Hospitals, office of public health, is authorized to claim and utilize all set-aside funding options available under the federal act.  In accordance with the Intended Use Plan, such funding set-asides shall be reserved prior to any capitalization grant funds being transferred into the drinking water loan fund.

Acts 1997, No. 480, §2, eff. June 30, 1997; Acts 2003, No. 67, §3, eff. May 28, 2003.