49-218.02. Brownfields cleanup revolving loan fund

156 words·~1 min read·/az/title-49/49-218-02

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. The Brownfields cleanup revolving loan fund is established to be administered by the director. The fund consists of monies from the following sources:

1. Monies appropriated by the legislature.

2. Monies received from the federal government.

3. Monies received from loan recipients and loan repayments, interest and penalties.

4. Interest and other income received from investing monies in the fund.

5. Gifts, grants and donations received from any public or private source.

B. Monies in the fund may be used for the purposes provided in section 49-218.01.

C. The department may use monies in the fund for the department's costs in administering the Brownfields cleanup revolving loan fund program.

D. Disbursement of monies from the fund pursuant to a financial assistance agreement under this article is not subject to title 41, chapter 23.

E. Monies in the fund are continuously appropriated and are exempt from the provisions of section 35-190, relating to lapsing of appropriations.