Series 2672: State Revolving Fund (SRF) Program Files. 1988-1999, 2004-2005.
Environmental Quality, Dept. of (RG 138)

Series 2672: State Revolving Fund (SRF) Program Files. 1988-1999, 2004-2005.
Environmental Quality, Dept. of (RG 138)

      These files document the funding of various wastewater (sewer) system improvements and upgrades by local government entities who borrowed money from the state revolving fund. The files consist of correspondence, plans and specifications, applications, checklists, loan agreements, loan distribution records, financial records, and inspection reports. They are listed by local government entity. There are separate boxes for the oversized plans and for the documents that were printed on legal-size paper.

      The Federal Water Quality Act of 1987 required all states to begin the transition from the federal EPA grants program to a new State Revolving Fund loan program no later than FY 1989. Federal funds previously appropriated for the grants program were instead targeted to the SRF loan program in FY 1989 and after. These funds are being used for funding basically the same types of wastewater projects that were funded under the grants program. Loans awarded for these wastewater projects are being repaid to the SRF at an interest rate that is at or below market interest rates, and the fund is to be maintained in perpetuity. The states must provide at least a 20% match to the federal funds. The funding authorization for the SRF program expired at the end of FY-94 along with the Clean Water Act, however Congress has continued to appropriate funds on a year-to-year basis. State legislation to establish the SRF was enacted during the 1988 legislative session and implementation was begun in FY 1989.