projects for enhanced energy efficiency in the operation of a water system;
projects for accelerated repair and replacement of aging water distribution facilities;
brackish or sea water desalination projects; and
the acquisition of real property or an interest therein for water storage, reclaimed or recycled water, or wastewater that is integral to such a project.
To be eligible for assistance, a project must be deemed creditworthy. Eligible project costs must be reasonably anticipated to be at least $20 million.
Interior shall establish criteria for project selection and may enter into a master credit agreement for projects secured by a common security pledge on terms acceptable to it.
Interior may enter into agreements with obligors to make secured loans to finance or refinance eligible project costs or to refinance long-term project obligations or federal credit instruments to provide additional funding capacity for the completion, enhancement, or expansion of a project.
The total amount of federal assistance for a project shall not exceed 80% of its total cost.
Interior shall establish: (1) a repayment schedule for each secured loan based on the useful life of the project, and (2) a uniform system to service the federal credit instruments made available under this bill.
Interior shall report biennially on the financial performance of the projects that receive assistance under this bill.