HB 2304 expands the authority of the Wastewater Management Authority to include the acquisition, construction, and improvement of drinking water facilities. Participation in this program will allow Arizona to access allocated federal monies authorized for expenditure on municipal drinking water works and certain improvement districts. The authority will administer the issuance of bonds and may establish accounts to administer funds. Funds may be dispersed with the condition of repayment or forgivable principal. 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. The state must assess administrative penalties for participating systems not meeting national standards. Both civil penalties and administrative penalties may not be recovered for the same violation. Penalties are to be deposited in the general fund. Arizona Constitution Click here to return to the A.L.I.S. Home Page.