Current through Register Vol. XLI, No. 45, November 8, 2024
Section 47-33-4 - Fund Establishment and Administration4.1. Establishment of the Grants Fund.-- The director shall establish a permanent and perpetual fund to be known as the "State Construction Grants Fund." The grants fund shall be kept separate and apart from the SRF and all other funds or programs of the division.4.2. Sources of Money for the Grants Fund. -- The grants fund shall be comprised of moneys appropriated by the Legislature, assessments on existing wastewater treatment facilities, and all other sums designated for deposit to the grants fund from any source, public or private, including applicable federal grant funds received at any time by the division for wastewater treatment purposes.4.3. Uses of Money in the Grants Fund. -- Moneys in the grants fund shall be used solely for the state construction grants program to make grants to communities and to defray the costs incurred by the division in administering the grants fund and the programs created by the Act and this rule.4.4. Investment of Moneys in the Grants Fund. -- The division shall invest the moneys in the grants fund that are not needed for immediate disbursement or use in obligations or securities that are lawful investments for public funds for the state.4.5. Disbursement of Moneys from the Grants Fund. -- Moneys shall be disbursed from the grants fund only upon written authorization from the director or his duly authorized designee.4.6. Grants from the Grants Fund. -- Moneys in the grants fund may be granted to communities for wastewater projects that are in compliance with provisions of the state and federal water pollution control acts and this rule.4.7. Application for Grants. -- A community that has the authority under applicable law to undertake a wastewater project may apply for a grant. A community desiring a grant shall make a separate application to the director, on the prescribed forms, for each project for which a grant is desired. Following approval the director may provide a binding commitment letter to the community setting forth specific terms of the grant.4.8. Grant Agreements. -- Prior to construction the director shall execute and enter into a formal grant agreement with a community that is binding under the laws of the state and shall contain such provisions as required by the director.4.9. Disbursement of Grant Moneys. -- On a monthly basis, the director may disburse to each recipient the amount certified to the director as costs incurred for the project. Said certification shall be made in the form prescribed by the director.