Conforms the provisions for bonds issued pursuant to the drinking water revolving fund with bond requirements that already exist in statute for the wastewater treatment bonds. Refers to both types of bonds, drinking water and wastewater, as water quality bonds. Stipulates the requirements for loans made from the drinking water revolving fund, consistent with the existing loan requirements for wastewater treatment facilities. Loan repayment is to proceed within 20 years for wastewater treatment facility loans and within 30 years for drinking water facility loans. Stipulates that excess monies acquired from the repayment of loans and interest earned may be invested or used for other loans or to support the fund.
Audits are to be administered by a certified public accountant annually.
If at any time the funds available to secure bonds become insufficient, the Attorney General's office is to conduct an investigation. Establishes civil administrative penalties for violations by public water systems of laws or rules adopted to implement the requirements of the national primary drinking water regulations. Prohibits the recovery of both civil penalties and administrative penalties for the same violation. Penalties are to be deposited in the general fund. Requires ADEQ to study and make recommendations on the development and implementation of a strategy to assist small public water systems in acquiring and maintaining the technical, managerial and financial capacity to operate in compliance with federal drinking water regulations.