(a)  Subject to the provisions of subsection (d) of this section, upon the written request of the agency, the state general treasurer shall pay to the agency, from time to time, from the proceeds of any bonds or notes issued by the state for the purposes of this chapter or funds otherwise lawfully payable to the agency for the purposes of this chapter, amounts equal to twenty percent (20%) of each federal capitalization grant award received or expected to be received by the agency under title VI of the Clean Water Act, 33 U.S.C. § 1381 et seq., plus such other amounts as shall have been appropriated or lawfully designated. All amounts so paid to the agency shall be credited to the water pollution control revolving fund to be applied as provided in § 46-12.2-6.

Terms Used In Rhode Island General Laws 46-12.2-7

  • Agency: means the Rhode Island clean water finance agency, and, effective September 1, 2015, and thereafter, shall mean the Rhode Island infrastructure bank;

    (2)  "Approved project" means any project or portion thereof that has been issued a certificate of approval by the department for financial assistance from the agency, and also includes any project approved for financial assistance from the agency in accordance with state law, and, furthermore, shall include water pollution abatement projects funded outside of the water pollution control revolving fund, the Rhode Island water pollution control revolving fund, or the local interest subsidy trust fund, without the requirement of the issuance of a certificate of approval; and, furthermore, shall include resiliency related infrastructure projects, and projects which may, subject to compliance with all state and federal requirements, include state and federal infrastructure located within the state of Rhode Island;

    (3)  "Board" means the board of directors of the agency;

    (4)  "Bond act" means any general or special law authorizing a local governmental unit to incur indebtedness for all or any part of the cost of projects coming within the scope of a water pollution abatement project, or for other projects related to this chapter, including but not limited to, § 45-12-2;

    (5)  "Bonds" means bonds, notes, or other evidence of indebtedness of the agency;

    (6)  "Certificate of approval" means the certificate of approval contemplated by § 46-12. See Rhode Island General Laws 46-12.2-2

  • Department: means the department of environmental management;

    (12)  "Financial assistance" means any form of financial assistance provided by the agency to a local governmental unit, person, or corporation in accordance with this chapter for all or any part of the cost of an approved project, including, without limitation: grants, temporary and permanent loans, with or without interest, guarantees, insurance, subsidies for the payment of debt service on loans, lines of credit, and similar forms of financial assistance; provided, however, notwithstanding the foregoing, for purposes of capitalization grant awards made available to the agency, pursuant to the American Recovery and Reinvestment Act of 2009 (Pub. See Rhode Island General Laws 46-12.2-2

  • Rhode Island water pollution control revolving fund: means the Rhode Island water pollution control revolving fund established pursuant to § 46-12. See Rhode Island General Laws 46-12.2-2
  • Trust agreement: means a trust agreement, loan agreement, security agreement, reimbursement agreement, currency or interest rate exchange agreement, or other security instrument, and a resolution, loan order, or other vote authorizing, securing, or otherwise providing for the issue of bonds, loans, or local governmental obligations or non-governmental obligations;

    (29)  "Wastewater system revenues" means all rates, rents, fee assessments, charges, and other receipts derived or to be derived by a local governmental unit from wastewater collection and treatment facilities and water pollution abatement projects under its ownership or control, or from the services provided thereby, including, without limitation: proceeds of grants, gifts, appropriations, and loans, including the proceeds of loans or grants awarded by the agency or the department in accordance with this chapter, investment earnings, reserves for capital and current expenses, proceeds of insurance or condemnation, and the sale or other disposition of property; wastewater system revenues may also include rates, rents, fees, charges, and other receipts derived by the local governmental unit from any water supply of distribution facilities or other revenue producing facilities under its ownership or control; wastewater system revenues shall not include any ad valorem taxes levied directly by the local governmental unit on any real and personal property;

    (30)  "Water pollution abatement project" or "project" means any project eligible pursuant to Title VI of the Clean Water Act including, but not limited to, a wastewater treatment or conveyance project that contributes to removal, curtailment, or mitigation of pollution of the surface water of the state, and conforms with any applicable comprehensive land use plan which has been adopted or any dam safety, removal or maintenance project; it also means a project to enhance the waters of the state, which the agency has been authorized by statute to participate in; it also means any other project to which the agency has been authorized to provide financial assistance;

    (31)  "Water pollution control revolving fund" means the water pollution control revolving fund contemplated by title VI of the Water Quality Act and established under § 46-12. See Rhode Island General Laws 46-12.2-2

(b)  Subject to the provisions of subsection (d), upon the written request of the agency, the state general treasurer shall pay to the agency, from time to time, from the proceeds of any bonds or notes issued by the state for the purposes of this chapter or funds otherwise lawfully payable to the agency for the purposes of this chapter, such amounts as shall have been appropriated or lawfully designated to meet the requirements of the local interest subsidy trust fund. All amounts so paid shall be in addition to any other amounts credited or expected to be credited to such fund, and shall be credited to the local interest subsidy trust fund.

(c)  Subject to the provisions of subsection (d), upon the written request of the agency, the state general treasurer shall pay to the agency, from time to time, from the proceeds of any bonds or notes issued by the state for the purposes of this chapter or funds otherwise lawfully payable to the agency for the purposes of this chapter, such amounts as shall have been appropriated or lawfully designated for the Rhode Island water pollution control revolving fund. All amounts so paid to the agency shall be credited to the Rhode Island water pollution control revolving fund.

(d)  The director of the department and the governor shall enter into, execute, and deliver one or more agreements with the agency setting forth or otherwise determining the terms, conditions, and procedures for, and the amount, time, and manner of payment of, all amounts available from the state to the agency under this section. The agreement or agreements may include such covenants and undertakings of the state, the agency, and the department as the governor, the agency, and the director of the department deem reasonable, including, without limitation, provision for payments by the state in advance of receipt of federal capitalization grant awards, or the execution and delivery of loan agreements by the agency and covenants and undertakings by the state to make payments in the future of amounts appropriated by the state when required by the agency or by the provisions of any trust agreement securing bonds. The agreement or agreements may also include provisions consistent with this chapter governing the application by the agency of amounts appropriated or designated by the state to the water pollution control revolving fund, the Rhode Island water pollution control revolving fund, and the local interest subsidy trust fund and the remedies of the agency provided in § 46-12.2-8(h).

History of Section.
P.L. 1989, ch. 303, § 2.