R653-2-8. Description of Water Infrastructure Restricted Account (WIRA)

  (1) The Board administers the Water Infrastructure Restricted Account (WIRA) for development of the state's undeveloped share of the Colorado and Bear rivers, pursuant to existing interstate compacts governing both rivers as described in Title 73, Chapter 28, Lake Powell Pipeline Development Act and Chapter 26, Bear River Development Act.

  (a) The Board will determine the need for funding investigation and construction aspects of developing the Colorado and Bear rivers.

  (b) The Board will authorize expenditures from the WIRA.

  (c) Any money utilized to construct water infrastructure to develop the state's share of the Colorado and Bear rivers is subject to the repayment provisions of the Lake Powell Pipeline Development Act and the Bear River Development Act.

  (i) Beneficiaries of projects to develop the Colorado and Bear rivers as described in the Lake Powell Pipeline Development Act and Bear River Development Act will be required to provide at least 10% of the project cost.

  (ii) Funding for the Lake Powell Pipeline and Bear River Development will be secured by a water sales agreement as described in the Lake Powell Pipeline Development Act and the Bear River Development Act.

  (2) The Board administers the WIRA for the repair, replacement, or improvement of federal water infrastructure projects developed for local sponsors in the State of Utah when federal funds are not available. Local sponsors may apply for this funding whether the project is owned or operated by the U.S. government or local sponsor.

  (a) Any money utilized for the repair, replacement, or improvement of federal water infrastructure projects when federal funds are not available shall be repaid pursuant to the terms and conditions established by the Board and Division by rule, as specified under Section 73-10g-105, Utah Code Annotated.

  (b) Applicants shall apply for WIRA funds for federal water infrastructure projects through the same procedure as stated in R653-2-3, Application Procedure.

  (c) Federal water infrastructure projects will be funded through the same process as stated in R653-2-4, Project Funding Process.

  (d) Federal water infrastructure projects or phases of such projects will be prioritized based the same criteria as stated in R653-2-2.1(a).

  (e) Projects financed through WIRA for the replacement and improvement of federal water infrastructure projects will be secured by the sale of a bond by the local sponsor to the Board.