61-28.1-12. Department - Powers and duties - Administration

61-28.1-12. Department - Powers and duties - Administration The department has the following powers and duties and shall administer the drinking water treatment revolving loan fund as follows: 1. To apply for and accept grants of money from the United States environmental protection agency or other federal agencies which must be deposited in the drinking water treatment revolving loan fund to be used for purposes authorized under the Safe Drinking Water Act, including the following: a. To provide loans or loan guarantees, or other financial assistance, to community water systems and nonprofit noncommunity water systems eligible for assistance from the revolving loan fund. b. As a source of revenue and security for the payment of principal and interest on bonds issued by the state through the public finance authority if the bond proceeds are deposited in the revolving loan fund. c. To buy or refinance debt obligations issued after July 1, 1993, to finance a project eligible for assistance from the revolving loan fund. d. To guarantee or purchase insurance for debt obligations issued to finance a project eligible for assistance from the revolving loan fund. e. To provide other financial and technical assistance and to make any other expenditure authorized under the Safe Drinking Water Act. f. To earn interest before the disbursement of financial or technical assistance. g. To pay administrative expenses associated with the revolving loan fund as authorized under the Safe Drinking Water Act. 2. To administer the drinking water treatment revolving loan fund as established. The department may enter into contracts and other agreements in connection with the operation of the drinking water treatment revolving loan fund to the extent necessary or convenient for the implementation of the drinking water treatment revolving loan fund. The department may combine the financial administration of the drinking water treatment revolving loan fund and the financial administration of the water pollution control revolving loan fund established under chapter 61-28.2. The department may cross-collateralize the drinking water treatment revolving loan fund and the water pollution control revolving loan fund as authorized by the administrator of the federal environmental protection agency under the Safe Drinking Water Act. 3. To administer and disburse funds in accordance with section 1452(a) of the federal Safe Drinking Water Act [42 U.S.C. 300j], as amended. 4. To establish assistance priorities and to expend grant funds pursuant to the priority list for the drinking water treatment revolving loan fund. 5. To adopt rules necessary for administering the drinking water treatment revolving loan fund. The governor, or the governor's designee, may transfer grant funds from the drinking water treatment revolving loan fund to the water pollution control revolving loan fund established by chapter 61-28.2 and from the water pollution control revolving loan fund to the drinking water treatment revolving loan fund, as authorized by the Safe Drinking Water Act.