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

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

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

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

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