2014 New York Laws
PBH - Public Health
Article 11 - PUBLIC WATER SUPPLIES; SEWERAGE AND SEWAGE CONTROL
Title 4 - (1160 - 1169) DRINKING WATER REVOLVING FUND
1167 - Financial assistance; recipients.

  1167.    Financial  assistance;  recipients.    The corporation may
  provide financial assistance to recipients pursuant to paragraph (a)  of
  subdivision  four  of section twelve hundred eighty-five-m of the public
  authorities law from any available moneys in the  fund  other  than  the
  proceeds  of the corporation's bonds or notes or moneys needed to comply
  with subdivision five of section twelve  hundred  eighty-five-m  of  the
  public  authorities  law if and to the extent the corporation determines
  that it is unable to, or that  it  is  impractical  or  inadvisable  to,
  finance  all  or  a portion of the costs of an eligible project from the
  proceeds  of  bonds  or  notes  that  are  special  obligations  of  the
  corporation.
The interest rate charged on any loan made by the corporation pursuant
  to  this  section  shall  be  such  interest  rate  as determined by the
  corporation (including a zero percent rate of interest),  but  shall  in
  any  event  be  no  more  than two-thirds of the market rate of interest
  otherwise applicable thereto.