New Mexico Administrative Code › Title 20 - ENVIRONMENTAL PROTECTION › Chapter 7 - WASTEWATER AND WATER SUPPLY FACILITIES › Part 5 - WASTEWATER FACILITY CONSTRUCTION LOANS › Section 20.7.5.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
as used in this part.
A.
"Act"
means the Wastewater
				Facility Construction Loan Act.
B.
"Administrative fee"
means a fee assessed and collected by the
				department from the qualified borrower on each loan and expressed as a
				percentage per year on the outstanding principal amount of the loan, payable by
				the borrower on the same date that principal and interest on the loan are due,
				for deposit in the clean water administrative fund.
C.
"Base Rate"
means the highest
				loan interest rate.
D.
"Clean
				Water Act"
means the federal Clean Water Act of 1977 and its subsequent
				amendments or successor provisions.
E.
"Clean water state revolving loan
				administrative fund"
means a separate fund created outside the
				wastewater facility construction loan fund/clean water state revolving fund
				designated solely for the costs of administering the clean water state
				revolving loan fund, in accordance with the Clean Water Act. Money remaining in
				the fund at the end of any fiscal year shall not revert to the general fund but
				shall accrue to the loan administrative fund and shall be used explicitly for
				the purpose above.
F.
"Commission"
means the water quality control commission.
G.
"Department"
means the New
				Mexico environment department.
H.
"Eligible project"
means any project or activity that is eligible
				for funding assistance under Section 603(c) of the Clean Water Act, Section
				1383 of Title 33 of the United States Code, as of January 1, 2018, including a
				wastewater facility project, a nonpoint source water pollution control project,
				and a watershed project that meet the criteria of the Clean Water
				Act.
I.
"Final loan
				agreement"
means an agreement executed by the qualified borrower and the
				department upon completion of the project in order to document the permanent
				financing of the final loan amount.
J.
"Final loan amount"
means the
				aggregate amount of the principal disbursed by the department to the qualified
				borrower during the construction of the eligible project, together with accrued
				and unpaid interest on the aggregate principal thereof.
K.
"Financial assistance"
means
				loans, combination loan/grants, the purchase or refinancing of existing state
				agency or local political subdivision obligations, loan guarantees, credit
				enhancement techniques to reduce interest on loans and bonds, bond insurance
				and bond guarantees or any combination of these purposes.
L.
"Force account construction"
means construction performed by the employees of a local authority rather than
				through a contractor.
M.
"Fund"
means the wastewater facility construction loan fund
				established in Section
				74-6A-4
				NMSA 1978 of the act.
N.
"Local authority"
means a municipality, intermunicipal agency,
				county, incorporated county, mutual domestic water consumers association as
				defined by the Sanitary Projects Act, sanitation district, water and sanitation
				district or any similar district, recognized Indian tribe, or other issuing
				agency created pursuant to a joint powers agreement acting on behalf of any
				entity listed in this subsection.
O.
"Payment"
means a
				disbursement from the fund directly to the qualified borrower.
P.
"Priority list"
means the
				list of eligible projects ranked according to the priority system pursuant to
				the act.
Q.
"Priority
				system"
means the system approved by the commission for ranking eligible
				projects for which financial assistance applications have been received
				pursuant to the act.
R.
"Qualified borrower"
means a creditworthy borrower with an
				identified and verifiable repayment source that is eligible for funding
				pursuant to the Clean Water Act, as of January 1, 2018, including a state
				agency, an interstate agency, and a local authority.
S.
"State agency"
means an
				agency or department of the executive branch of government.
T.
"Wastewater facility"
means a
				publicly owned system for treating or disposing of sewage or wastes either by
				surface or underground methods, including any equipment, plant, treatment
				works, structure, machinery, apparatus or land in any combination, that is
				acquired, used, constructed or operated for the storage, collection, reduction,
				recycling, reclamation, disposal, separation or treatment of water or wastes,
				or for the final disposal of residues resulting from the treatment of water or
				wastes, such as pumping and ventilating stations, facilities, plants and works,
				outfall sewers, interceptor sewers and collector sewers, and other real or
				personal property and appurtenances incidental to their use or
				operation.