Loans or grants - Amounts

(a) The Arkansas Natural Resources Commission is authorized to make either loans or grants to local governments to provide them with the nonfederal interest's share of the cost share for a water resources development project. (b) (1) The commission shall not make a loan or grant to a local government for more than fifty percent (50%) of the total project cost for a water resources development project. (2) If the commission determines to provide assistance for a water resources project without the requirement of the execution of a cooperative agreement, the commission may provide up to sixty-five percent (65%) of the total project cost in the form of a loan or grant to the local government. Acts 1989, No. 257, § 5; 2001, No. 1039, § 1. (a) The Arkansas Natural Resources Commission is authorized to make either loans or grants to local governments to provide them with the nonfederal interest's share of the cost share for a water resources development project. (b) (1) The commission shall not make a loan or grant to a local government for more than fifty percent (50%) of the total project cost for a water resources development project. (2) If the commission determines to provide assistance for a water resources project without the requirement of the execution of a cooperative agreement, the commission may provide up to sixty-five percent (65%) of the total project cost in the form of a loan or grant to the local government. (1) The commission shall not make a loan or grant to a local government for more than fifty percent (50%) of the total project cost for a water resources development project. (2) If the commission determines to provide assistance for a water resources project without the requirement of the execution of a cooperative agreement, the commission may provide up to sixty-five percent (65%) of the total project cost in the form of a loan or grant to the local government. Acts 1989, No. 257, § 5; 2001, No. 1039, § 1.