(a) To public agencies for the construction or replacement of treatment works.

(b) To qualified institutions to finance projects to repair or replace failing on-site septic systems or to replace failing on-site septic systems with connections to an available sewer.

(c) For the implementation of a management program established under section 319 of the federal Water Quality Act of 1986 relating to the management of nonpoint sources of pollution.

(d) For development and implementation of a conservation and management plan under section 320 of the federal Water Quality Act of 1986 relating to the national estuary program.

(2) The department may also use the moneys in the Water Pollution Control Revolving Fund for the following purposes:

(a) To buy or refinance the debt obligations of public agencies for eligible projects as listed under subsection (1) of this section, if the debt obligation was incurred after March 7, 1985.

(b) To guarantee, or purchase insurance for, public agency obligations for treatment works’ construction or replacement if the guarantee or insurance would improve credit market access or reduce interest rates, or to provide loans to a public agency for this purpose.

(c) To pay the expenses of the department in administering the Water Pollution Control Revolving Fund, to make transfers to the Water Pollution Control Administration Fund, or to pay other departmental costs including expenses of the program described in ORS 468.433 (2).

(3) If amounts are advanced to the Water Pollution Control Revolving Fund from the Pollution Control Fund under ORS 468.220 (1), the department shall transfer from the Water Pollution Control Revolving Fund to the Pollution Control Sinking Fund amounts sufficient to pay the bonds that funded the advance. [1987 c.648 §4; 1993 c.411 §7; 1995 c.79 §279; 2015 c.626 §1; 2019 c.558 §3]