Wyoming § 16-1-302 Account established; state match

Wyoming Statutes

§ 16-1-302 — Account established; state match

Wyoming·Title 16 City, County, State and Local Powers·Ch. 1 INTERGOVERNMENTAL COOPERATION·Art. 3 STATE DRINKING WATER REVOLVING ACCOUNT

(a)There is established the state drinking water revolving loan account. All monies received from the federal capitalization grants, excluding any set-aside authorized by the Safe Drinking Water Act (42 U.S.C. § 300j-12), and all state matching funds shall be deposited in the account and shall only be used to provide financial assistance as authorized by this article.

(b)The twenty percent (20%) state matching funds for each federal capitalization grant payment to the account may be paid fifty percent (50%) out of water development accounts I or II created by W.S. 41-2-124(a) and fifty percent (50%) from the federal mineral royalty capital construction account created by W.S. 9-4-604, up to the maximum amount available and authorized from those accounts. If the available and authorized f

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(a) There is established the state drinking water
revolving loan account. All monies received from the federal
capitalization grants, excluding any set-aside authorized by the
Safe Drinking Water Act (42 U.S.C. § 300j-12), and all state
matching funds shall be deposited in the account and shall only
be used to provide financial assistance as authorized by this
article.
(b) The twenty percent (20%) state matching funds for each
federal capitalization grant payment to the account may be paid
fifty percent (50%) out of water development accounts I or II
created by W.S. 41-2-124(a) and fifty percent (50%) from the
federal mineral royalty capital construction account created by
W.S. 9-4-604, up to the maximum amount available and authorized
from those accounts. If the available and authorized funds from
the federal mineral royalty capital construction account and
water development accounts I or II are together insufficient to
provide the full twenty percent (20%) state match amount, the
board may authorize additional matching funds to be paid from
the corrective action account or loaned from the mineral royalty
capital construction account created by W.S. 9-4-604. Funding
received from the corrective action account for state matching
funds and any additional monies received from the mineral
royalty capital construction account shall be reimbursed from
eligible program funds to the account from which they were paid.
(c) Any unexpended balance in the account shall be
invested by the state treasurer and the investment proceeds,
including the interest earned, shall be credited to the account.
(d) A separate administrative account shall be established
outside of the account for the purpose of paying administrative
expenses associated with the program as authorized under the
Safe Drinking Water Act. Revenue to this account shall be
limited to four percent (4%) of the federal capitalization grant
through federal fiscal year 2003 and five hundred thousand
dollars ($500,000.00) per biennium thereafter.