16.154 Eligible entities — agreements required.
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/ia/chapter-16-iowa-finance-authority/16-154·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. An eligible entity may apply to the authority for financial assistance under the program by submitting a plan on an application form as required by the authority. To be approved for an award of financial assistance, the plan must meet all of the following requirements:
a. The plan proposes one or more projects that improve water quality in the local area or watershed. Projects shall use practices identified in the Iowa nutrient reduction strategy.
b. The plan describes the manner in which the projects will be financed and undertaken, including, as applicable, the sources of revenue directed to financing the improvements as well as the eligible entities that will be receiving the revenues and how such revenues will be spent on the projects.
2. The authority shall review and approve or deny applications for financial assistance. The provision of financial assistance under the program shall take into account, as applicable, the number of municipalities, landowners, public utilities, specified industries, rural water districts, or rural water associations comprising an eligible entity and the eligible entity’s financing capacity. The authority shall score applications for financial assistance according to rules adopted pursuant to this part. The authority shall only provide financial assistance to eligible entities that have sufficient financing capacity and that submit an appropriate plan designed to improve water quality.
3. If an application by an eligible entity is approved, the eligible entity may enter into an agreement with the authority for the provision of financial assistance. The agreement shall include standard terms for the receipt of program moneys and any other terms the authority deems necessary or convenient for the efficient administration of the program.
2018 Acts, ch 1001, §9; 2018 Acts, ch 1152, §7, 8; 2019 Acts, ch 59, §13, 14; 2024 Acts, ch 1022, §4