New Hampshire § 486-14 - Section 486:14 State Water Pollution Control and Drinking Water Revolving Loan Funds.

§ 486-14. Section 486:14 State Water Pollution Control and Drinking Water Revolving Loan Funds.

I. (a) Authority is granted for the state of New Hampshire to participate in the federally funded state water pollution control and drinking water revolving loan funds or grants as may be provided under the Clean Water Act, the Safe Drinking Water Act, or related federal legislation as amended from time to time. The loan funds shall be administered by the commissioner of the department of environmental services under rules adopted by the commissioner under the provisions of RSA 541-A. (b) A sum equal to 2 percent of all loan principal balances outstanding each year, which shall be an administrative charge, shall be set aside to be used by the department of environmental services to pay the costs of administering the state water pollution control and drinking water revolving loan funds. The funds set aside shall be deposited in nonlapsing water pollution control and drinking water loan administration funds and shall be continually appropriated to the department exclusively for the purposes of this section. If the sum of the administrative charge plus interest charge as established by rules of the department of environmental services based on market rates is less than 2 percent for a loan, then the administrative charge shall be equal to this sum and no interest charge shall be assessed on the loan. (c) The department of environmental services is authorized to review projects funded from the state water pollution and drinking water revolving loan funds for impacts on the human and natural environment similar in intent to the steps described in 40 C.F.R. part 6, sections 506 and 508 through 511, pursuant to rules adopted by the commissioner of the department of environmental services under RSA 541-A. (d) [Repealed.] II. It is the intent of the general court that many projects be considered for inclusion in the state water pollution control revolving loan fund program. The following projects shall be given first consideration for inclusion: (a) Manchester sewage treatment plant expansion. (b) Exeter sewage treatment plant. (c) Monroe sewage treatment plant. III. Any borrowing by a municipality from the loan fund or grant funded monies shall be governed by the applicable provisions of RSA 33, provided that the first principal payment on any loan and the first of the annual payments required under RSA 33:2 may be deferred up to one year after the estimated or actual completion date of the project being financed by the loan, and provided further that no authenticating certificate shall be required under RSA 33:11.