§ 15-5-1505 - Brownfield Revolving Loan Fund -- Administration. - Arkansas Statutes

15-5-1505. Brownfield Revolving Loan Fund -- Administration.

(a) (1) The Brownfield Revolving Loan Fund shall be administered by the Arkansas Department of Environmental Quality, with the Arkansas Development Finance Authority serving as agent for the department.

(2) The department may establish procedures to administer the fund and the programs financed, in whole or in part, with moneys from the fund that are used for the purposes stated under this subchapter.

(3) The department may enter into contracts and other agreements in connection with the operation of the fund, including contracts and agreements with federal agencies, local governmental entities, the authority, and other persons, to implement this subchapter.

(b) The department shall have full authority to operate the fund and may make withdrawals as necessary to achieve the intended purposes of this subchapter.