2009 Rhode Island Code
Title 46 - Waters and Navigation
CHAPTER 46-12.8 - Water Projects Revolving Loan Fund
§ 46-12.8-2 - Definitions.

SECTION 46-12.8-2

   § 46-12.8-2  Definitions. – (a) "Agency" means the Rhode Island clean water finance agency.

   (b) "Approved project" means any project or portion thereof of a governmental unit or privately organized water supplier that has been issued a certificate of approval by the department for assistance through the agency.

   (c) "Department" means the department of health.

   (d) "Local governmental obligations" means bonds, notes or other evidences of indebtedness in fully marketable form issued by a governmental unit to evidence a loan from the agency in accordance with this chapter or otherwise as provided herein.

   (e) "Local governmental unit" means any town, city, district, commission, agency, authority, board of other political subdivision or instrumentality of the state or of any political subdivision thereof responsible for the ownership or operation of water supply facilities within the state.

   (f) "Obligations of private water companies" means bonds, notes or other evidences of indebtedness, of private water companies, in fully marketable form.

   (g) "Privately organized water supplier" means any water company not owned or operated by a local governmental unit, existing under the laws of the state, and in the business of operating a safe drinking water facility.

   (h) "Water supply facility or facilities" means water reservoirs, wells and well sites, transmission or distribution system, any and all real estate or interests in real estate held in connection therewith, all equipment and improvements held in connection therewith, and any property or interests therein, real, personal or mixed, used or held on to be used in connection therewith.

   (i) "Financial assistance" means any form of financial assistance other than grants provided by the agency to a local governmental unit or private water company in accordance with this chapter for all or any part of the cost of an approved project, including, without limitation, temporary and permanent loans, with or without interest, guarantees, insurance, subsidies for the payment of debt service on loans, lines of credit, and similar forms of financial assistance; provided, however, notwithstanding the foregoing, for purposes of the State Revolving Fund Capitalization Grants appropriated pursuant to the American Recovery and Reinvestment Act of 2009 (P.L. 111-5), financial assistance shall also include principal forgiveness and negative interest loans.