R317-101-8. Loans For Storm Water Projects

  Storm water projects are eligible for funding through the Utah Wastewater Project Assistance Program, as identified in Subsection 73-10c-2(12). In addition to other rules identified in Rule R317-101 which may apply, the following particular rules apply to storm water project loans:

  A. Loans will only be made to political subdivisions of the state.

  B. The interest rate charged on storm water project loans will be equal to 60% of the interest rate on a 30-year U.S. Treasury bill.

  C. Storm water project loans will be made twice per year. Projects will be prioritized so that the limited funds which are available are allocated first to the highest priority projects in accordance with Sections R317-100-3 through R317-100-4, ranking systems of the Utah State Project Priority System for the Utah Wastewater Project Assistance Program.

  D. Storm water projects are eligible for funding provided a significant portion of the project is for the purpose of improving water quality.