ENROLLED Page 1 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. ACT No. 296 Regular Session, 2010 HOUSE BILL NO. 913 BY REPRESENTATIVES CHAMPAGNE, BALDONE, BARRAS, BILLIOT, HENRY BURNS, CARMODY, CARTER, CHANDLER, CORTEZ, DOWNS, FANNIN, FOIL, GISCLAIR, GUINN, HARRISON, HAZEL, HOFFMANN, SAM JONES, KATZ, LANDRY, LIGI, MILLS, MONTOUCET, MORRIS, ROBIDEAUX, GARY SMITH, JANE SMITH, ST. GERMAIN, THIBAUT, TUCKER, AND WHITE AN ACT1 To amend and reenact R.S. 30:2011(A)(3) and (D)(4) and (23), 2074(A)(4), 2397, R.S.2 33:4548.13, and R.S. 40:2821(B)(2) and 2824(B), to enact Chapter 14 of Subtitle II3 of Title 30 of the Louisiana Revised Statutes of 1950, to be comprised of R.S.4 30:2301 through 2306, and R.S. 39:1022(C), and to repeal R.S. 30:2078 through5 2088, relative to certain loans for water infrastructure from the revolving loan funds;6 to provide for the Department of Environmental Quality; to provide for the powers7 and duties of the secretary of the Department of Environmental Quality; to8 redesignate the Municipal Facilities Revolving Loan Fund as the Clean Water State9 Revolving Fund; to provide for notices of intention to issue certain bonds; and to10 provide for related matters.11 Be it enacted by the Legislature of Louisiana:12 Section 1. R.S. 30:2011(A)(3) and (D)(4) and (23), 2074(A)(4), and 2397 are hereby13 amended and reenacted and Chapter 14 of Subtitle II of Title 30 of the Louisiana Revised14 Statutes of 1950, comprised of R.S. 30:2301 through 2306, is hereby enacted to read as15 follows:16 §2011. Department of Environmental Quality created; duties; powers; structure17 A.18 * * *19 (3) The department is authorized and empowered to administer, maintain,20 and operate the Municipal Facilities Revolving Loan Clean Water State Revolving21 Fund as created and provided in R.S. 30:2078 30:2301 et seq. In connection with22 ENROLLEDHB NO. 913 Page 2 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. such administration, maintenance, and operation, the department is authorized to1 incur debt and issue bonds, notes, or other evidences of indebtedness, and is2 authorized to pledge the sums in, credited to, or payable to the Municipal Facilities3 Revolving Loan Clean Water State Revolving Fund as security for the debt of other4 entities, and is authorized to arrange, provide for, and pay the cost of credit5 enhancement devices for its debt and the debt of other entities in order to provide6 funds in connection with the Municipal Facilities Revolving Loan Clean Water State7 Revolving Fund Program. Any such evidence of indebtedness, guarantee, pledge,8 or credit enhancement device shall be authorized, executed, and delivered by the9 secretary or his designee in accordance with the provisions and subject to the10 limitations provided in R.S. 30:2011(D)(23) and 2080 through 2088 2301 et seq. for11 the Municipal Facilities Revolving Loan Clean Water State Revolving Fund.12 * * *13 D. The secretary shall have the following powers and duties:14 * * *15 (4) To apply for and accept grants of money from the United States16 Environmental Protection Agency or other federal agencies for the purpose of17 making funds available to political subdivisions eligible recipients in this state for18 the planning, design, construction, and rehabilitation of wastewater treatment19 facilities and or other related eligible activities. The department may contract to20 receive such grants, agree to match the grant in whole or in part when required, and21 to comply with applicable federal laws and regulations in order to secure the grants.22 Money received through these grants and state matching funds shall be deposited23 into the Municipal Facilities Revolving Loan Clean Water State Revolving Fund or24 used for appropriate administrative purposes.25 * * *26 (23) To authorize by executive order, the issuance, sale, execution, and27 delivery of bonds, notes, or other evidences of indebtedness of the department,28 obligations representing guarantees by the department of the debt of other entities,29 and the granting of pledges of the sums deposited in, credited to, or payable to the30 ENROLLEDHB NO. 913 Page 3 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. Municipal Facilities Revolving Loan Clean Water State Revolving Fund as created1 and provided in R.S. 30:2078 30:2301 et seq., including sums to be received2 pursuant to letters of credit, as security for the debts of other entities, subject to the3 approval of the State Bond Commission.4 * * *5 §2074. Water quality control; secretary of environmental quality; powers and duties6 A. The department shall have the following powers and duties with respect7 to water quality control:8 * * *9 (4) To administer the Municipal Facilities Revolving Loan Clean Water10 State Revolving Fund as established in R.S. 30:2078 30:2302. The department is11 also authorized to enter into contracts and other agreements in connection with the12 operation of the Municipal Facilities Revolving Loan Clean Water State Revolving13 Fund to the extent necessary or convenient for the implementation of the Municipal14 Facilities Revolving Loan Clean Water State Revolving Fund Program.15 * * *16 CHAPTER 14. CLEAN WATER STATE REVOLVI NG FUND17 §2301. Definitions18 As used in this Chapter, the following terms shall have the following19 meanings:20 (1) "Clean Water State Revolving Fund" or "CWSRF" means the water21 pollution control revolving loan fund previously established by Act No. 349 of the22 1986 Regular Session of the Legislature, as amended, and formerly known as the23 "Municipal Facilities Revolving Loan Fund".24 (2) "Department" means the Department of Environmental Quality.25 (3) "Eligible recipient" means a political subdivision, public trust, agency or26 commission of the state, or a private entity, to the extent permitted by the federal act27 or federal regulations.28 (4) "Federal act" means the Clean Water Act of 1972, as amended by the29 Water Quality Act of 1987, specifically Subchapter VI, Chapter 26 of Title 33 of the30 ENROLLEDHB NO. 913 Page 4 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. United States Code, and any amendments thereto relating to water pollution control1 revolving loan funds established by the respective states, including the CWSRF.2 (5) "Federal regulations" means Part 35, Title 40 of the Code of Federal3 Regulations (40 CFR 35.3100, et seq.) relating to water pollution control revolving4 loan funds established by the respective states, including the CWSRF.5 §2302. Clean Water State Revolving Fund; established6 A. The Clean Water State Revolving Fund is hereby established and shall be7 maintained and operated by the department. Grants from the federal government8 allotted to the state for the capitalization of the CWSRF, and state funds when9 required, or otherwise made available, shall be deposited directly in or credited to the10 account of the CWSRF in compliance with the terms of the federal or state grant.11 The CWSRF shall provide assistance to eligible recipients for any activities of the12 CWSRF as may be permitted by the federal act or federal regulations and by this13 Chapter.14 B. The department is authorized to enter into contracts and other agreements15 in connection with the operation of the CWSRF including but not limited to credit16 enhancement devices, guarantees, pledges, interest rate swap agreements, contracts17 and agreements with federal agencies, political subdivisions, public trusts, agencies18 or commissions of the state, and other parties to the extent necessary or convenient19 for the implementation of the CWSRF. The department shall maintain full authority20 for the operation of the CWSRF in accordance with applicable federal and state law.21 §2303. Clean Water State Revolving Fund; authorized activities22 A. Money in or credited to the account of or to be received by the CWSRF,23 including sums to be received pursuant to letters of credit or from any other source,24 shall be expended, committed, or pledged, in a manner consistent with terms and25 conditions of the grants and other sources of such deposits, credits, and letters of26 credit, and of all applicable federal and state law and may be used:27 (1) To make loans to eligible recipients, or to purchase debt obligations using28 federal funds or funds on deposit in, credited to, or to be received by the CWSRF,29 including from the proceeds of letters of credit, at or below market interest rates for30 ENROLLEDHB NO. 913 Page 5 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. a period not to exceed thirty years from the completion of the construction of a1 project approved by the department.2 (2) To offer and to make or enter into loan guarantees for eligible recipients.3 (3) To provide payments to reduce interest on loans and loan guarantees to4 eligible recipients.5 (4) To provide additional subsidization to eligible recipients in the form of6 bond interest subsidies, forgiveness of principal, negative interest loans or grants, or7 any combination of these.8 (5) To provide bond guarantees to eligible recipients.9 (6) To provide assistance to eligible recipients with respect to the nonfederal10 share of the costs of a project.11 (7) To finance the cost of facility planning and the preparation of plans,12 specifications, and estimates for construction of projects for eligible recipients as13 may be approved by the department.14 (8) To provide financial assistance to eligible recipients for the construction15 and rehabilitation of a project on the state priority list.16 (9) To secure principal, interest, and premium if any, on bonds or other17 evidence of indebtedness issued by the department, or any agency, commission,18 authority, or public corporation of the state, by any public trust or by any other entity19 having the authority to issue debt for or on behalf of the state, or any political20 subdivision of the state if the proceeds of such bonds are deposited in the CWSRF,21 if the proceeds of such bonds are used to pay for a project approved by the22 department, or if the proceeds of such bonds are used to refund any obligation the23 proceeds of which are used to pay for an approved project to the extent provided and24 allowed by the terms of the federal grant.25 (10) To make, enter into, or provide for loan guarantees for similar revolving26 funds established by instrumentalities, public trusts or agencies of the state, political27 subdivisions, or intermunicipal or interstate agencies.28 ENROLLEDHB NO. 913 Page 6 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. (11) To purchase or refinance, at or below market rates, debt incurred by1 political subdivisions for wastewater treatment projects, where such debt obligations2 were incurred after March 7, 1985.3 (12) To improve credit market access by guaranteeing, arranging, or4 purchasing bond insurance or other credit enhancement devices for debt obligations5 issued by the department, or any eligible recipient issued for a purpose authorized6 by this Section.7 (13) To provide any other assistance or to fund any other programs which8 the federal government authorizes by law, regulation, or the terms of any grants.9 (14) To fund the administrative expenses of the department related to the10 CWSRF.11 (15) To provide for any other expenditure consistent with the federal grant12 program and state law, including grants.13 B. Money not currently needed for the operation of the Clean Water State14 Revolving Fund or otherwise dedicated may be invested in an interest-bearing15 account. All such interest earned on investments shall be credited to the Clean Water16 State Revolving Fund.17 §2304. Clean Water State Revolving Fund; political subdivisions and public trusts;18 loans19 A. Notwithstanding any provisions of law to the contrary, and in addition to20 the authority to borrow money or incur debt under any other provisions of law, any21 political subdivision or public trust is hereby authorized to borrow money from and22 incur debt payable to the CWSRF in accordance with the provisions hereof and23 subject to the approval of the State Bond Commission. This Section shall not be24 deemed to be the exclusive authority under which political subdivisions or public25 trusts may borrow money from or incur indebtedness to the CWSRF.26 B. All bonds, notes, or other evidence of indebtedness of any political27 subdivisions and public trusts issued to represent an obligation to repay a CWSRF28 loan shall be authorized and issued pursuant to a resolution or ordinance of the29 governing authority of such entity, which shall prescribe the form and details thereof,30 ENROLLEDHB NO. 913 Page 7 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. including the terms, security for, manner of execution, repaym ent schedule, and1 redemption features thereof and such resolution or ordinance may provide that an2 officer of such entity may execute in connection with such obligation any related3 contract including but not limited to a credit enhancement device, indenture of trust,4 loan agreement, pledge agreement, or other agreement or contract needed to5 accomplish the purposes for which said indebtedness is given. Any such resolution6 or ordinance shall set forth the maximum principal amount, the maximum interest7 rate, the maximum redemption premium, if any, and the maximum term of such8 indebtedness.9 C. Notwithstanding any other provision of law to the contrary, any political10 subdivision, or public trust upon entering into a loan from the CWSRF under this11 Section may dedicate and pledge a portion of any revenues it has available to it12 including but not limited to revenues from the general revenue fund, sales taxes, user13 fees, assessments, parcel fees, or property taxes of the political subdivision for a term14 not exceeding thirty years for repayment of the principal of, interest on, and any15 premium, administrative fee, or other fee or cost imposed by the department in16 connection with such loan; provided that any loan made solely for the purpose of17 financing the cost of facility planning and the preparation of plans, specifications,18 and estimates for construction of projects approved by the department shall have a19 term not to exceed five years from the date thereof.20 D. Any evidence of indebtedness authorized pursuant to the provisions of21 this Chapter shall bear a rate or rates of interest that shall not exceed the rate or rates22 set forth in the resolution or ordinance authorizing and providing for the issuance23 thereof. Any such rate or rates of interest may be at fixed, variable, or adjustable24 rates.25 E. Bonds, notes, or other evidence of indebtedness of a political subdivision26 shall be sold at a private, negotiated sale to the CWSRF at such price or prices,27 including premiums and discounts as shall be authorized in the resolution or28 ordinance of the borrower and agreed to by the department. The general laws of the29 ENROLLEDHB NO. 913 Page 8 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. state governing fully registered securities of public entities shall be applicable to the1 bonds, notes, or other evidence of indebtedness issued pursuant to this Section.2 F. All resolutions or ordinances authorizing the issuance of bonds, notes, or3 other evidence of indebtedness of a political subdivision hereunder shall be4 published once in the official journal of the borrower. It shall not be necessary to5 publish exhibits to such resolution or ordinance, but such exhibits shall be made6 available for public inspection at the offices of the governing authority of the7 borrower at reasonable times and such fact must be stated in the publication. For a8 period of thirty days after the date of such publication, any persons in interest may9 contest the legality of the resolution or ordinance authorizing such evidence of10 indebtedness and any provisions thereof made for the security and payment thereof.11 After such thirty-day period no one shall have any cause or right of action to contest12 the regularity, formality, legality, or effectiveness of said resolution or ordinance and13 the provisions thereof or of the bonds, notes, or other evidence of indebtedness14 authorized thereby for any cause whatsoever. If no suit, action, or proceeding is15 begun contesting the validity of the bonds, notes, or other evidence of indebtedness16 authorized pursuant to such resolution or ordinance within the thirty days prescribed17 in this Subsection, the authority to issue the bonds, notes, or other evidence of18 indebtedness, or to provide for the payment thereof, and the legality thereof, and all19 of the provisions of the resolution or ordinance and such evidence of indebtedness20 shall be conclusively presumed, and no court shall have authority or jurisdiction to21 inquire into any such matter.22 G. Bonds, notes, or other evidence of indebtedness of a political subdivision23 issued under the authority of this Section shall be exempt from all taxation for state,24 parish, municipal, or other purposes. Such bonds, notes, or other evidence of25 indebtedness shall be legal and authorized investments for banks, savings banks,26 insurance companies, any other financial institution, tutors of minors, curators of27 interdicts, trustees, and other fiduciaries. Such bonds, notes, or other evidence of28 indebtedness may be used for deposit with any officer, board, or political subdivision29 ENROLLEDHB NO. 913 Page 9 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. of the state, in any case where, by present or future laws, deposit of security is1 required for state funds.2 H. The department may by suit, action, mandamus, or other proceedings,3 protect and enforce any covenant relating to and the security provided in connection4 with any indebtedness issued pursuant to this Section, and may by suit, action,5 mandamus, or other proceedings enforce and compel performance of all of the duties6 required to be performed by the governing body and officials of any borrower7 hereunder and in any proceedings authorizing the issuance of such bonds or other8 evidences of indebtedness.9 §2305. Authority of the department; incur debt; issue and undertake guarantees of10 debt of other entities11 A. The department is hereby authorized to issue, incur, and deliver debt12 evidenced by bonds, notes, or other evidences of indebtedness, payable from or13 secured by sums deposited in, credited to, or to be received in, including sums14 received pursuant to letters of credit, by the department in the CWSRF.15 B. The department is further authorized to undertake and to issue and deliver16 evidences of its guarantee of the debt of other entities and is authorized to enter and17 execute pledges of the sums deposited in, credited to, or to be received in the18 CWSRF, including payments pursuant to letters of credit, to secure the debt of other19 entities. Such bonds, notes, or other evidences of indebtedness, such guarantees, and20 such pledges issued and delivered pursuant to the authority hereof shall constitute21 special and limited obligations of the department, and shall not be secured by the full22 faith and credit of the state, any source of revenue of the state other than those sums23 on deposit in, credited to, or to be received in the CWSRF, including payments to be24 made pursuant to letters of credit. It is hereby found and determined that such bonds,25 notes, or other evidences of indebtedness, guarantees, and pledges shall constitute26 revenue bonds, debts, or obligations within the meaning of Article VII, Section 6(C)27 of the Constitution of Louisiana and shall not constitute the incurring of state debt28 thereunder.29 ENROLLEDHB NO. 913 Page 10 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. C. Withdrawals from the CWSRF to pay debt service on any bond, note, or1 other evidence of indebtedness, obligation of guarantee of any debt, or pledge to2 secure any debt does not constitute and shall not be subject to annual appropriation3 by the legislature as provided by Article III, Section 16 of the Constitution of4 Louisiana.5 D. The department is hereby authorized to issue, execute, and deliver6 refunding bonds, notes, or other evidences of indebtedness for the purpose of7 refunding, readjusting, restructuring, refinancing, extending, or unifying in whole or8 any part of its outstanding obligations, and the department is also authorized to issue9 short-term revenue notes for the purposes of anticipating any revenues to be received10 by the department in connection with the CWSRF.11 §2306. Manner of authorizing, issuing, executing, and delivering debt or guarantees12 of debt of other entities13 A. All bonds, notes, or other evidences of indebtedness, guarantees of the14 debt of other entities or pledges of assets to the payment of debts of other entities15 shall be authorized and issued pursuant to an executive order issued by the secretary16 of the department, and such executive order shall include a statement as to the17 maximum principal amount of any such obligation, guarantee, or pledge, the18 maximum interest rate to be incurred or borne by such obligation or guaranteed by19 such obligation, the maximum redemption premium, if any, and the maximum term20 in years for such evidence of indebtedness, obligation, guarantee, or pledge, and such21 executive order shall prescribe the form, anticipated terms, security, manner of22 execution, redemption features, and method of fixing the final details thereof. Such23 executive order may provide that the secretary or his designee shall execute in24 connection with any such obligation any other related contract including but not25 limited to credit enhancement devices, indentures of trust, pledge agreements, loan26 agreements, or any other ancillary agreements or contracts needed to accomplish the27 purposes for which said evidence of indebtedness, guarantee, or pledge is given in28 substantially the form attached to said executive order but which final indenture,29 guarantee, pledge, or other contract or agreement may contain such changes,30 ENROLLEDHB NO. 913 Page 11 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. additions, and deletions as shall, in the sole opinion of the designated officer of the1 department executing any such contract, be determined to be appropriate under the2 circumstances. The bonds, notes, other evidences of indebtedness, and obligations3 issued under the provisions of this Section shall be subject to the general laws of the4 state regarding defeasance and fully registered securities of public entities.5 B. Bonds, notes, or other evidences of indebtedness of the department may6 bear, and the department may guarantee or pledge the assets of the CWSRF to the7 payment of debt of other entities that bear, a rate or rates of interest at fixed, variable,8 or adjustable rates. Any such obligation may be noninterest bearing in the form of9 capital appreciation obligations.10 C. Bonds, notes, or other evidences of indebtedness of the department shall11 be sold by the State Bond Commission at either public or private sale and may be12 sold at such price or prices, including premiums and discounts, as may be determined13 to be in the best interest of the department by the secretary, with the approval of the14 State Bond Commission. If any such evidences of indebtedness are to be sold at a15 public sale, a notice of the sale shall be published in accordance with the provisions16 of R.S. 39:1426 and shall be awarded to the best bidder therefor by the State Bond17 Commission, but the State Bond Commission may reject any and all bids received.18 D. The department may, in connection with the sale of any bonds, notes, or19 other evidences of indebtedness, use municipal bond insurance, bank guarantees,20 surety bonds, letters of credit, interest rate swap agreements, and other devices to21 enhance the credit quality of any such obligations, the cost of which may be paid22 from the proceeds of the bonds, notes, or other evidences of indebtedness or other23 lawfully available funds. Such credit enhancement devices may be entered into prior24 to, at the time of, or subsequent to, the issuance of any such obligations.25 E. All executive orders of the secretary authorizing the issuance of bonds,26 notes, or other evidences of indebtedness of the department shall be published once27 in the official journal of the state. It shall not be necessary to publish exhibits to any28 such executive order, but such exhibits shall be made available for public inspection29 at the offices of the secretary of the department at reasonable times and such fact30 ENROLLEDHB NO. 913 Page 12 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. must be stated in the publication. For a period of thirty days after the date of such1 publication any persons in interest may contest the legality of the executive order and2 any provisions thereof made for the security and payment of any such bonds, notes,3 or other obligations, guarantees, or pledges. After such thirty-day period, no one4 shall have any cause or right of action to contest the regularity, formality, legality,5 or effectiveness of said executive order and the provisions thereof or of the bonds,6 notes, or other evidence of indebtedness authorized thereby or any guarantee or7 pledge authorized thereby for any cause whatsoever. If no suit, action, or proceeding8 is begun contesting the validity of the bonds, notes, or other obligations authorized9 pursuant to such executive order within the thirty days herein prescribed, the10 authority to issue the bonds, notes, or other obligations, to enter into the guarantee,11 or to make the pledge to provide for the payment thereof, and the legality thereof,12 and of all the provisions of the executive order shall be conclusively presumed, and13 no court shall have authority or jurisdiction to inquire into any such matter.14 F. Bonds, notes, or other evidences of indebtedness issued under the15 authority of this Section or Chapter 32 of Title 40 of the Louisiana Revised Statutes16 of 1950, shall be exempt from all taxation for state, parish, municipal, or other17 purposes. Such bonds, notes, or other evidences of indebtedness may be used for18 deposit with any officer, board, or other political subdivision of the state, in any case19 where, by present or future laws, deposit of security is required for state funds.20 G. Notwithstanding the provisions of this Chapter, the department shall not21 directly issue any bonds, notes, or other evidences of indebtedness except to any22 commission, authority, or public corporation of the state, any public trust, political23 subdivision of the state, or any other entity having the authority to issue debt for or24 on behalf of the state, or any other political subdivision of the state.25 * * *26 ENROLLEDHB NO. 913 Page 13 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. §2397. Distribution of revenue1 The state treasurer shall each fiscal year deposit the revenues generated under2 the provisions of this Chapter, from taxes applicable to the sale of reclaimed water,3 or other sources as provided for by law into the Bond Security and Redemption4 Fund. Out of the funds from such sources remaining in the Bond Security and5 Redemption Fund after a sufficient amount is allocated from that fund to pay all6 obligations secured by the full faith and credit of the state which become due and7 payable within any fiscal year, the treasurer shall deposit an amount equal to one-8 quarter of the revenues generated from the reclaimed water program into the9 Municipal Facilities Revolving Loan Clean Water State Revolving Fund, enacted in10 R.S. 30:2078 30:2301 et seq., which shall be used for making grants to local11 governments to finance primary waste treatment facilities; one-quarter into the12 Coastal Resources Trust Fund, created in R.S. 49:214.40, and the remainder shall be13 used by the Department of Natural Resources for the protection of groundwater14 resources. Use of these funds shall be subject to an appropriation by the legislature.15 Section 2. R.S. 33:4548.13 is hereby amended and reenacted to read as follows: 16 §4548.13. Cooperation of state agencies17 All state officers and agencies are authorized to render such services to the18 authority within their respective functions as may be requested by the authority. In19 addition, the authority is authorized to enter into such contracts, cooperative20 endeavor agreements, or other agreements with the Department of Environmental21 Quality with respect to the Municipal Facilities Revolving Loan Clean Water State22 Revolving Fund or any other state agency regarding other revolving loan funds as23 the parties may desire in order to implement the provisions of this Chapter and24 Chapter 4 14 of Subtitle II of Title 30 of the Louisiana Revised Statutes of 1950.25 Section 3. R.S. 39:1022(C) is hereby enacted to read as follows: 26 §1022. Publication of resolution; contesting validity27 * * *28 C. Notwithstanding the provisions of Subsection A of this Section, any29 indebtedness that represents a loan to a political subdivision under this Part from the30 ENROLLEDHB NO. 913 Page 14 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. Drinking Water Revolving Loan Fund or the Clean Water State Revolving Fund1 must be approved by the State Bond Commission prior to the incurring of such2 indebtedness; however, the State Bond Commission shall not be required to approve3 the contents of the notice of intention required by Subsection A of this Section.4 Section 4. R.S. 40:2821(B)(2) and 2824(B) are hereby amended and reenacted to5 read as follows:6 §2821. Legislative findings7 * * *8 B. The legislature finds and declares that:9 * * *10 (2) The Department of Environmental Quality has, since 1989, been11 operating and maintaining the Municipal Facilities Revolving Loan Clean Water12 State Revolving Fund in accordance with the Federal Water Pollution Control Act13 (33 U.S.C. 1251 et seq.), commonly referred to as the Clean Water Act, to provide14 assistance to wastewater treatment facilities owned or operated by municipalities and15 other political subdivisions, and for other assistance allowed by such Act.16 * * *17 §2824. Drinking Water Revolving Loan Fund18 * * *19 B. The Department of Health and Hospitals, office of public health, shall20 segregate the funds associated with the drinking water loan fund as may be required21 by the federal act, grant agreements, or interagency agreements. The Department of22 Health and Hospitals shall keep any accounts associated with the drinking water loan23 fund separate from any accounts associated with the Municipal Facilities Revolving24 Loan Clean Water State Revolving Fund authorized in R.S. 30:2078 30:2301 et seq.25 * * *26 Section 5. R.S. 30:2078 through 2088 are hereby repealed in their entirety.27 Section 6. This Act shall become effective upon signature by the governor or, if not28 signed by the governor, upon expiration of the time for bills to become law without signature29 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If30 ENROLLEDHB NO. 913 Page 15 of 15 CODING: Words in struck through type are deletions from existing law; words underscored are additions. vetoed by the governor and subsequently approved by the legislature, this Act shall become1 effective on the day following such approval.2 SPEAKER OF THE HOUSE OF REPRESENTATI VES PRESIDENT OF THE SENATE GOVERNOR OF THE STATE OF LOUISIANA APPROVED: