§ 4778.
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/vt/title-24/chapter-120/4778A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 4778. Federal capitalization grant distribution
The Secretary may use any available and lawful funds to match federal funds otherwise available to capitalize the Fund created by subdivision 4753(a)(3) of this title. Up to 20 percent of the funds which have been identified in the annual State Intended Use Plan
(IUP)and allocated for water supply projects may be used for loans to privately-owned public water systems. Any balance, excepting set-asides authorized by federal law, shall be directed to be used for loans to improve municipal water systems. Should there occur any surplus of funds for municipal water system projects in any given year, those funds may be used to fund additional privately owned public water systems. (Added 1997, No. 62, § 75, eff. June 26, 1997; amended 1997, No. 134 (Adj. Sess.), § 6; 1999, No. 109 (Adj. Sess.), § 3.)