§ 159G-36. Limits on loans and grants.

403 words·~2 min read·/nc/chapter-159g/159g-36

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

(a)CWSRF and DWSRF. - Federal law governs loans and grants from the CWSRF and the DWSRF. An award of a loan or grant from one of these accounts must be consistent with federal law.

(b)Certain Reserve Cost Limit. - The amount of a loan or grant from the Wastewater Reserve or the Drinking Water Reserve may not exceed the construction costs of a project. A loan or grant from one of these Reserves is available only to the extent that other funding sources are not reasonably available to the applicant.

(b1)Viable Utility Reserve Cost Limit. - The amount of a grant from the Viable Utility Reserve shall not exceed the construction costs of a project. A grant from this Reserve is available only to the extent that other funding sources are not reasonably available to the applicant.

(c)Certain Reserve Recipient Limit. - The following limits apply to the loan or grant types made from the Wastewater Reserve or the Drinking Water Reserve to the same local government unit or nonprofit water corporation:

(1)The amount of loans awarded for a fiscal year may not exceed three million dollars ($3,000,000).

(2)The amount of loans awarded for three consecutive fiscal years for targeted interest rate projects may not exceed three million dollars ($3,000,000).

(3)The amount of project grants awarded for three consecutive fiscal years may not exceed three million dollars ($3,000,000).

(4)The amount of merger/regionalization feasibility grants awarded for three consecutive fiscal years may not exceed fifty thousand dollars ($50,000).

(5)The amount of asset inventory and assessment grants awarded for three consecutive fiscal years may not exceed one hundred fifty thousand dollars ($150,000).

(d)Viable Utility Reserve Recipient Limit. - Grants under the Viable Utility Reserve are limited as follows:

(1)Grants for the purposes set forth in subdivisions

(1)through

(5)of G.S. 159-32(d) shall not exceed fifteen million dollars ($15,000,000) to any single local government unit. Where two or more local government units are merging into a single utility, the total grant awarded shall not exceed thirty million dollars ($30,000,000).

(2)Grants for the purpose set forth in G.S. 159G-32(d)(6) to any single local government unit shall not exceed seven hundred fifty thousand dollars ($750,000) in any fiscal year. (2005-454, s. 3; 2015-241, s. 14.13(i); 2019-241, s. 11(g); 2020-79, ss. 1(h), 6(a); 2023-134, s. 12.3(b); 2024-45, s. 14.)