224A.325 Emergency Kentucky water and wastewater assistance for troubled or

346 words·~2 min read·/ky/224a-325

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

economically restrained systems fund.

(1)The emergency Kentucky water and wastewater assistance for troubled or

economically restrained systems fund is hereby established in the State Treasury

and shall be administered by the authority.

(2)The fund shall be a dedicated revolving fund, and all moneys in the fund shall be

dedicated to providing funding for both capital and non-capital expenses relating

solely to restoring or avoiding imminent interruption of utility service provided by a

public water or wastewater system after a statewide state of emergency has been

declared pursuant to KRS Chapter 39A or a local state of emergency has been

declared for the jurisdiction where the public water or wastewater system is located

pursuant to KRS Chapter 39B.

(3)The authority may require a public water or wastewater system to include with its

application for funding under this section a corrective action plan detailing how the

applicant plans to address any performance deficiencies that may have given rise to

the need for the requested funding.

(4)Interest rates for loans awarded pursuant to this section shall be set using the same

criteria to set the interest rates for loans from the federally-assisted water supply

revolving fund administered by the authority under KRS 224A.1115 and the

federally-assisted wastewater revolving fund administered by the authority under

KRS 224A.111.

(a)The fund may receive donations, gifts, state appropriations, repayments from

the funding provided under subsection

(2)of this section, and revenues or

proceeds from the sale of bonds or from other financial instruments.

(b)The fund may receive proceeds from the authority's infrastructure revolving

fund under KRS 224A.304, as available, if:

1. Not contrary to the requirements which establish and govern the

management and use of those funds; and

2. The proceeds do not contain any federal moneys.

(c)Any interest earnings of the fund shall become a part of the fund and shall not

lapse.

(6)Notwithstanding KRS 45.229, moneys in the fund shall not lapse but shall be

carried forward to the next fiscal year and used solely for the stated purposes in this

section.