33 Miss. Code. R. 7-III
The Mississippi DWSIRLF is structured around three separate funds that sustain the Program and help it achieve the basic, short-term, and long-term goals. The funds are broken down further into designated accounts, each having a specific function.
Monies in the Fund support a majority of the functions of the DWSIRLF. These functions include: program administration, set-aside operations, and most importantly provide disbursements to public water systems for eligible projects. The DWSIRLF is a reimbursement program, meaning that after the loan is awarded, costs associated with planning, designing and constructing the project are reimbursed to the recipient. Cap grants from EPA, loan repayments and interest earnings are deposited into this Fund.
Many types of projects are eligible for funding by the Program. For a more detailed explanation of eligible costs for projects, please reference Appendix A of the DWSIRLF Regulations.
The set-aside accounts reside under the umbrella of the Fund and are distinctly designated by reporting categories. A listing of the set-asides taken by Mississippi includes the following:
As required by the SDWA, the State of Mississippi must match the Cap grant with state funds equaling 20% of the federal allotment. Mississippi historically has received the required 20% state match from the sale of General Obligation bonds authorized by the State Legislature and sold by the Mississippi State Bond Commission; however, since the 2014 legislative secession, the State Legislature has authorized a direct appropriation for the state match. While state match monies are maintained separately from the Fund for accounting purposes, they are still considered to be under the "umbrella" protection of the DWSRF Fund.
The DWSELF Fund contains state monies that are utilized only for public water supply loans which meet the definition of emergency. For further information see Appendix J.
33 Miss. Code. R. 7-III