[§342D-86]  Revolving fund; fees, interest,
and investment on accounts.  (a)  The director may establish fees for
loans, loan and bond guarantees, debt purchase and refinancing, interest rate
subsidies, and other credit enhancement or liquidity support issued or provided
through the revolving fund.



(b)  The director shall adopt rules pursuant to
chapter 91 for the purposes of this part, including fees for loans and other
financial assistance, and penalties for default of loan and other financial
assistance repayments.



(c)  If established, fees shall cover the costs
of current activities, including the issuance of loans and other financial
assistance, monitoring of loans and other financial assistance repayments and
conditions, technical review of the planning and design documents, monitoring
of construction activities, conducting operation and maintenance inspections of
wastewater facilities, and other activities of the revolving fund pursuant to
Title 33 United States Code sections 1381 to 1387.



(d)  All moneys collected as fees shall be
deposited into an administrative expense account or accounts as needed to
comply with Title 33 United States Code section 1383(d)(7) and shall be used
exclusively to support the activities of the revolving fund.



(e)  Moneys in the revolving fund shall be
placed in interest bearing investments or otherwise invested at the discretion
of the director until such time as the moneys may be needed.  All interest
accruing from the investment of these moneys shall be credited to the revolving
fund; provided that moneys which are pledged as security for payment of revenue
bonds may be invested as provided in section 342D-91. [L 1997, c 221, pt of §1]