RCW 70A.135.080
Extended grant payments.
(1) The department of ecology may enter into contracts with local jurisdictions which provide for extended grant payments under which eligible costs may be paid on an advanced or deferred basis.
(2) Extended grant payments shall be in equal annual payments, the total of which does not exceed, on a net present value basis, fifty percent of the total eligible cost of the project incurred at the time of design and construction. The duration of such extended grant payments shall be for a period not to exceed twenty years. The total of federal and state grant moneys received for the eligible costs of the project shall not exceed fifty percent of the eligible costs.
(3) Any moneys appropriated by the legislature for the purposes of this section shall be first used by the department of ecology to satisfy the conditions of the extended grant payment contracts.
[ 2009 c 479 § 56; 1987 c 516 § 1. Formerly RCW 70.146.075.]
NOTES:
Effective date—2009 c 479: See note following RCW 2.56.030.
Structure Revised Code of Washington
Title 70A - Environmental Health and Safety
Chapter 70A.135 - Water Pollution Control Facilities Financing.
70A.135.010 - Purpose—Legislative intent.
70A.135.030 - Water pollution control facilities and activities—Grants or loans.
70A.135.040 - Level of grant or loan not precedent.
70A.135.050 - Compliance schedule for secondary treatment.
70A.135.060 - Use of funds—Limitations.
70A.135.070 - Grants or loans for water pollution control facilities—Considerations.
70A.135.080 - Extended grant payments.
70A.135.100 - Water quality capital account—Expenditures.
70A.135.110 - Puget Sound partners.
70A.135.120 - Administering funds—Preference to an evergreen community.