Current through Register Vol. XLI, No. 50, December 13, 2024
Section 60-12-4 - Fund Establishment4.1. Establishment of the Fund. The Water Development Authority shall continue to administer and manage, under the direction of the Instrumentality, a permanent and perpetual fund known as the West Virginia Drinking Water Treatment Revolving Fund. The fund shall be kept separate and apart from all other funds or programs of the Water Development Authority and the Instrumentality.4.2. Establishment of Set Aside Accounts. There are four allowable set-asides from the capitalization grant, each to be administered by the Instrumentality: 4.2.1. Program Oversight (Administration of the Fund). An amount up to the percentage allowable by law of the capitalization grant may be used to finance the costs of the Instrumentality or its agents in administering the program and for other administrative costs determined eligible by USEPA guidance.4.2.2. Technical Assistance. An amount up to 2% of the federal capitalization grants shall be utilized to provide technical assistance services for small systems to assist those systems in maintaining compliance with the federal Safe Drinking Water Act. The technical assistance services for small systems shall be contracted by the Instrumentality to non-profit organizations that:4.2.2.a. Have a membership that represents at least 25% of the small systems of this State; and4.2.2.b. Have at least five years of experience in providing on-site technical assistance to small systems.4.2.3. Local Assistance. An amount up to 15% of the capitalization grant may be used for local assistance such as, but not limited to: delineation and assessment of source water protection areas, loans for source water protection programs and well-head protection programs and capacity development assistance. Contractual services may be funded from this account for these services. No more than 10% may be used for any one activity.4.2.4. State Activities. An amount up to 10% of the capitalization grant may be used for State activities such as, but not limited to: the public water supply supervision program, source water protection, capacity development, and operator certification4.2.5. Reserving Set-Asides. Each year, the Instrumentality may reserve the Program Oversight, Technical Assistance, Local Assistance, and State Activities set-asides to be used in a future year. When used in a future year, the reserved amounts may be taken from capitalization grant in addition to the amounts in Sections 4.2.1, 4.2.2, 4.2.3, and 4.2.44.3. Sources of Money for the Drinking Water Treatment Revolving Fund. The Drinking Water Treatment Revolving Fund is comprised of moneys appropriated by the legislature, moneys allocated to the State by the federal government for the purposes of continuing to capitalize the Drinking Water Treatment Revolving Fund, all receipts and repayments from loans made from the Drinking Water Treatment Revolving Fund, all income from investment of moneys held in the Drinking Water Treatment Revolving Fund, and all other sums designated for deposits to the Drinking Water Treatment Revolving Fund from any source, public or private.4.4. Use of Moneys in the Drinking Water Treatment Revolving Fund. Moneys in the Fund shall be used solely to make loans and other allowable financial assistance to local entities to finance or refinance the costs of a project and to defray the costs incurred by the Authority and the Instrumentality in administering the Fund and the programs created by the Act.4.5. Investment of Moneys in the Drinking Water Treatment Revolving Fund. The Water Development Authority is permitted to invest the moneys in the Drinking Water Treatment Revolving Fund that are not needed for immediate disbursement or use in obligations or securities that are lawful investments for public funds of the State.4.6. Disbursement of Moneys from the Drinking Water Treatment Revolving Fund. Moneys are to be disbursed from the Drinking Water Treatment Revolving Fund only for purposes allowed pursuant to the Safe Drinking Water Act for project expenses deemed eligible by the Instrumentality and upon written authorization from the director of the Water Development Authority or his or her designee.