§ 23.1-08-12 — Applications for grants or loans - Loan terms

Moneys in the solid waste management fund may be used to make grants or low-interest
loans to political subdivisions for waste reduction, planning, resource recovery, and recycling
projects with an emphasis on marketing. An application for a grant or loan out of moneys in the
solid waste management fund must be made to the department. The department shall review an
application to determine if the purpose of the grant or loan is consistent with the purposes of the
fund and the district solid waste management plan. The department shall adopt rules to
implement this section. If the department approves an application, the department shall forward
the application and the results of the department's review of the application to the Bank of North
Dakota. The Bank, in consultation with the department, shall determine the financial criteria that
must be met for an application to be approved. A loan must be repaid within a period not
exceeding twenty years at an interest rate of four percent.