PUBLIC LAW 100-4—FEB. 4, 1987 "(4) all funds in the fund will be expended in an expeditious and timely manner; "(5) all funds in the fund as a result of capitalization grants under this title and section 205(m) of this Act will first be used < to assure maintenance of progress, as determined by the ^ Governor of the State, toward compliance with enforceable deadlines, goals, and requirements of this Act, including the municipal compliance deadline; "(6) treatment works eligible under section 603(c)(1) of this
Act which will be constructed in whole or in part before fiscal year 1995 with funds directly made available by capitalization ^ grants under this title and section 205(m) of this Act will meet the requirements of, or otherwise be treated (as determined by the Governor of the State) under sections 201(b), 201(g)(1), 201(g)(2), 201(g)(3), 201(g)(5), 201(g)(6), 201(n)(l), 201(o), 204(a)(1), g 204(a)(2), 204(b)(1), 204(d)(2), 211, 218, 511(c)(1), and 513 of this ^ Act in the same manner as treatment works constructed with assistance under title II of this Act; "(7) in addition to complying with the requirements of this 5 title, the State will commit or expend each quarterly grant " payment which it will receive under this title in accordance with laws and procedures applicable to the commitment or ' expenditure of revenues of the State;
"(8) in carrying out the requirements of section 606 of this ? Act, the State will use accounting, audit, and fiscal procedures conforming to generally accepted government accounting '^ standards; "(9) the State will require as a condition of making a loan or providing other assistance, as described in section 603(d) of this t Act, from the fund that the recipient of such assistance will maintain project accounts in accordance with generally i^ accepted government accounting standards; and "(10) the State will make annual reports to the Administrator on the actual use of funds in accordance with section 606(d) of •• this Act. "SEC. 603. WATER POLLUTION CONTROL REVOLVING LOAN FUNDS.
101 STAT. 23
»j£
Post, p. 27.
33 USC 1281, 1284, 1291, 1298, 1371, 1372. 33 USC 1281.
Post, p. 25.
Loans,
Reports, Post, p. 26. 33 USC 1383.
"(a) REQUIREMENTS FOR OBLIGATION OF GRANT FUNDS.—Before a
State may receive a capitalization grant with funds made available » • "-•" under this title and section 205(m) of this Act, the State shall first establish a water pollution control revolving fund which complies with the requirements of this section. "(b) ADMINISTRATION,—Each State water pollution control revolving fund shall be administered by an instrumentality of the State with such powers and limitations as may be required to operate such fund in accordance with the requirements and objectives of this Act. "(c) PROJECTS ELIGIBLE FOR ASSISTANCE.—The amounts of funds available to each State water pollution control revolving fund shall be used only for providing financial assistance (1) to any municipality, intermunicipal, interstate, or State agency for construction of publicly owned treatment works (as defined in section 212 of this Act), (2) for the implementation of a management program estab- 33 USC 1292. lished under section 319 of this Act, and (3) for development and Post, p. 52. implementation of a conservation and management plan under section 320 of this Act. The fund shall be established, maintained. Post, p. 61. and credited with repayments, and the fund balance shall be available in perpetuity for providing such financial assistance.
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