W. Va. Code R. § 64-49-4 - Fund Establishment

4.1. Establishment of the Fund. -- The water development authority shall establish a permanent and perpetual fund to be known as the West Virginia drinking water treatment revolving fund. The fund shall be kept separate and apart from all other funds or programs of the water development authority and the division.

4.2. Establishment of Set Aside Accounts. -- There are four (4) allowable set-asides from the capitalization grant, as described in subdivisions 4.2.a through 4.2.d of this rule.

4.2.a. Program Oversight (Administration of the Fund). -- An amount up to four percent (4%) of the capitalization grant may be used for to finance the cost to the division or its agents of administering the program.

4.2.b. Technical Assistance. -- Two percent (2%) of the federal capitalization grants shall be utilized to provide technical assistance services for small systems to assist those systems in maintaining compliance with the federal safe drinking water act. The technical assistance services for small systems shall be contracted by the division to non-profit organizations that:

4.2.b.1. Have a membership that represents at least twenty-five percent (25%) of the small systems of this State; and

4.2.b.2. Have at least five (5) years of experience in providing on-site technical assistance to small systems.

4.2.c. Local Assistance. -- An amount up to fifteen percent (15%) of the capitalization grant may be used for local assistance such as, but not limited to: delineation and assessment of source water protection areas, loans for source water protection programs and well-head protection programs and capacity development assistance. Contractual services may be funded from this account for these services. No more than ten percent (10%) may be used for any one (1) activity.

4.2.d. State Activities. -- An amount up to ten percent (10%) of the capitalization grant may be used for State activities such as, but not limited to: the public water supply supervision program, source water protection, capacity development, and operator certification.

4.3. Sources of Money for the Drinking Water Treatment Revolving Fund. -- The drinking water treatment revolving fund is comprised of moneys appropriated by the legislature, moneys allocated to the State by the federal government for the purposes of establishing the drinking water treatment revolving fund, all receipts from loans made from the drinking water treatment revolving fund, all income from investment of moneys held in the drinking water treatment revolving fund, and all other sums designated for deposits to the drinking water treatment revolving fund from any source, public or private.

4.4. Use of Moneys in the Drinking Water Treatment Revolving Fund. -- Moneys in the drinking water treatment revolving fund are to be used solely to make loans and to make other allowable financial assistance to eligible projects for public water systems, as described in the Safe Drinking Water Act and in W. Va. Code '16-3C-1 et seq. Each loan shall be in an amount that covers those costs of a project for which funds are sought by the applicant from the water development authority.

4.5. Investment of Moneys in the Drinking Water Treatment Revolving Fund. -- The water development authority is permitted to invest the moneys in the drinking water treatment revolving fund that are not needed for immediate disbursement or use in obligations or securities that are lawful investments for public funds of the State.

4.6. Disbursement of Moneys from the Drinking Water Treatment Revolving Fund. -- Moneys are to be disbursed from the drinking water treatment revolving fund only upon written authorization from the director of the water development authority or his or her designee.

Notes

W. Va. Code R. § 64-49-4