644.570. Commissioners may borrow additional $20,000,000 for grants and loans to storm water control plans, how allocated--grants and loans disbursed directly to certain districts--fund created fo
Commissioners may borrow additional $20,000,000 for grants and loansto storm water control plans, how allocated--grants and loansdisbursed directly to certain districts--fund created forrepayment of loans.
644.570. 1. The board of fund commissioners of the state ofMissouri, as authorized by section 37(h) of article III of the Constitutionof the state of Missouri, may borrow on the credit of this state the sum oftwenty million dollars for the purposes of financing and constructing stormwater control plans, studies and projects as set out in this chapter. Thedepartment shall allocate these funds through grants or loans tomunicipalities, public sewer districts, sewer districts establishedpursuant to article VI, section 30(a) of the Missouri Constitution, publicwater districts, or any combination of the same located in a county of thefirst classification or in any city not within a county or by any county ofthe first classification.
2. Grants awarded under this section shall be no more than fiftypercent of the cost of the plan, study or project.
3. Grants or loans allocated under this section shall be initiallyoffered to eligible recipients in counties of the first classification andin a city not within a county in an amount equal to the percentage ratiothat the population of the recipient county or city bears to the totalpopulation of all counties of the first classification and cities notwithin a county as determined by the last decennial census.
4. Grants or loans offered to a city or county under subsection 3 ofthis section shall be further allocated and initially offered to eligiblerecipients in any city with a population of at least twenty-five thousandinhabitants located in a county of the first classification in an amountequal to the percentage ratio that the recipient's population bears to thetotal population of the county.
5. After the initial offer of grants or loans has been made toeligible recipients under subsections 3 and 4 of this section, anyremaining funds may be reallocated to recipients of the initial offer whohave eligible projects for such funds until no such funds remain. Thereallocation of funds shall be made to eligible recipients with remainingeligible projects in an amount equal to the percentage ratio that thepopulation of the eligible recipient bears to the total population of allother eligible recipients with remaining eligible projects under thissubsection.
6. Other provisions of this section notwithstanding, in those citiesor counties served by a sewer district established pursuant to article VI,section 30(a) of the Constitution of the state of Missouri, any grants orloans awarded shall be disbursed directly to such district.
7. Repayments of storm water loans and any interest payments on suchloans shall be deposited in the "Storm Water Loan Revolving Fund", which ishereby created. The fund shall be used for the purposes of financing andconstructing storm water control plans, studies, and projects. The statetreasurer shall be custodian of the fund and may approve disbursements fromthe fund in accordance with sections 30.170 and 30.180, RSMo. Uponappropriation, money in the fund shall be used solely for theadministration of this section. Any moneys remaining in the fund at theend of the biennium shall not revert to the credit of the general revenuefund. The state treasurer shall invest moneys in the fund in the samemanner as other funds are invested. Any interest and moneys earned on suchinvestments shall be credited to the fund.
(L. 1999 H.B. 450 and S.B. 160 & 82, A.L. 2008 S.B. 1040)*Contingent effective date, see § 644.571