Oklahoma § 82-1085.62 - Establishment of criteria for determination of

§ 82-1085.62. Establishment of criteria for determination of

interest rates on loans - Annual report.

In order to comply with the requirements of federal and state

laws, the Board shall complete the following:

1. Establish criteria for determining the interest rates on

loans to be made from the Clean Water State Revolving Fund Loan

Account. Such criteria may incorporate applicable United States

Environmental Protection Agency and Rural Development Administration

guidelines for financial assistance.

a.

In determining interest rates on loans made from the

fund, in addition to other information, due

consideration shall be given to:

(1) providing for the maintenance of the account in

perpetuity,

(2) statewide needs for the assistance available

pursuant to the provisions of this act,

(3) five-year demand projections of the Board for

assistance available pursuant to the provisions

of this act,

(4) prevailing market interest rates, and

(5) debt service requirements of investment

certificates issued by the Board to provide funds

for the Clean Water State Revolving Fund Loan

Account.

b.

In developing criteria for the determination of

interest rates available to individual entities, in

addition to other information, due consideration shall

be given to:

(1) financial resources of the entity,

Oklahoma Statutes - Title 82. Waters and Water Rights

(2)

(3)

the ability of the entity to repay the loan,

those entities that discharge into those streams

and rivers designated as scenic river areas

pursuant to the provisions of Section 1452 of

this title or outstanding resource waters under

Oklahoma's Water Quality Standards, and

(4) prevailing market interest rates; and

2. Submission of an annual report by the Board to the Governor

and to the Speaker of the House of Representatives and the President

Pro Tempore of the Senate within one hundred twenty (120) days of

the end of each fiscal year concerning the Clean Water State

Revolving Fund Loan Account and implementation of the provisions of

Sections 1085.51 through 1085.65 of this title. The report shall

contain information to show the actual use and the recipients of

loans made from the Clean Water State Revolving Fund Loan Account.

In addition, the report shall contain five-year demand projections

on anticipated loan funds required and ten-year and twenty-year

projections as to possible funding needs for water quality projects

which may be eligible for financial assistance under Sections

1085.51 through 1085.65 of this title.

Added by Laws 1988, c. 202, § 12, operative July 1, 1988. Amended

by Laws 1993, c. 145, § 331, eff. July 1, 1993; Laws 2002, c. 322, §

12, emerg. eff. May 30, 2002.