Iowa Admin. Code r. 265-46.3 - Program administration
(1)
Cooperating agencies. The fund shall be administered by the
authority in cooperation with the department of natural resources and the
department of agriculture and land stewardship.
(2)
Interest rates and
terms. Interest rates and repayment terms shall be determined by the
authority in cooperation with the department of natural resources and the
department of agriculture and land stewardship. The interest rate shall be
specified in the application. Loan and grant terms shall be negotiated with
each loan recipient and grant recipient, as the case may be, but no loan shall
have a term more than 20 years. Loans may be prepaid at any time with no
penalty.
(3)
Parts of
project eligible for funding. Only the part of the project that has a
water quality protection or improvement component may be funded.
(4)
Funding guidelines. The
fund shall be administered in such a manner as to provide a permanent source of
water quality project financial assistance to eligible entities. Financial
assistance shall be provided in the form deemed by the authority to be most
convenient for the efficient financing of projects, including loans, forgivable
loans, or grants.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.