WAC 173-98-040. Revolving fund uses

The revolving fund may be used for the following purposes:

(1) To provide loans to finance the planning, design, and/or construction of water pollution control facilities;

(2) To provide loans for nonpoint source pollution control management projects that implement the Washington's Water Quality Management Plan to Control Nonpoint Sources of Pollution , and for developing and implementing a conservation and management plan under section 320 of the act;

(3) To buy or refinance the debt obligations incurred by applicants after March 7, 1985, for the construction of water pollution control facilities;

(4) To guarantee or buy insurance for local obligations to improve credit market access or reduce interest rates;

(5) As a source of revenue or security for the payment of principal and interest on revenue or general obligation bonds issued by the state if the proceeds of those bonds will be deposited in the revolving fund;

(6) To finance administration costs incurred by the department as authorized by the act and chapter 90.50A RCW; and

(7) To provide loan subsidies in the form of reduced interest rates and forgivable principal to public bodies for statewide, high-priority water quality projects that are consistent with the Clean Water Act, 33 U.S.C. 1251-1388.