Sec. 8. (a) To receive a loan, grant, or other financial assistance from the water infrastructure assistance fund, a participant:
(1) must have an asset management program that meets standards established by the authority; and
(2) must demonstrate to the authority that it has a plan to participate with one (1) or more other participants in cooperative activities, which may include using the proceeds of the loan or grant to pay a part of the costs associated with a cooperative activity.
(b) To receive a loan or grant from the water infrastructure assistance fund for purposes of cybersecurity, a participant must satisfy the same requirements that are established under this chapter for loans or grants for projects for other purposes.
(c) A participant receiving a grant, loan, or other financial assistance from the water infrastructure assistance fund shall enter into a financial assistance agreement with the authority. A financial assistance agreement entered into under this section is a valid, binding, and enforceable agreement of the participant.
(d) After receiving a loan or grant from the water infrastructure assistance fund, a participant must maintain its asset management program:
(1) as long as the loan remains unpaid; or
(2) during the useful life of the asset financed with the loan or grant.
(e) In addition to meeting the other requirements established under this section, a participant must, if appropriate, conduct or participate in efforts to determine and eliminate the causes of non-revenue water in its water distribution system.
(f) Notwithstanding any other law, the authority may establish and implement requirements that:
(1) apply to loans and other financial assistance to be made to participants that are not political subdivisions; and
(2) are different from, or in addition to, requirements that apply to loans and financial assistance made to political subdivisions.
As added by P.L.189-2018, SEC.25. Amended by P.L.56-2019, SEC.5.
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