§ 46-15.6-4 - Content of infrastructure replacement component. - Rhode Island Statutes

SECTION 46-15.6-4

   § 46-15.6-4  Content of infrastructurereplacement component. – (a) The infrastructure replacement component (hereinafter referred to as"component" ) shall include without limitation:

   (1) A detailed financial forecast of facility replacementimprovement requirements for the next twenty (20) years including, but notlimited to, the principal components of the water system such as reservoirs,dams, treatment plants, pipes, valves, fire hydrants, pumping stations, storagefacilities, pumping and well equipment, interconnections and water mains. Eachfinancial forecast shall analyze the condition and life expectancy of theexisting facilities, prioritize needed repairs and replacements and amortizesuch improvement requirements on an annual basis over the next twenty (20)years in accordance with rules and regulations promulgated herein. Watersuppliers which have in effect infrastructure improvement or rehabilitationprograms and mechanisms for funding approved by their appropriate governingbodies may submit their existing programs for complete or partial compliancewith the provisions of this section.

   (2) A method that establishes and maintains fiscal controlsand accounting depreciation standards sufficient to ensure proper accountingfor evaluation of facility requirements necessitated by this chapter inaccordance with rules and regulations promulgated herein.

   (b) Components shall be consistent with applicable localcomprehensive plans in which the service areas are or are planned to be located.

   (c) Proceeds from the watershed protection fund shall beusable for reimbursement of water suppliers for preparation of theirinfrastructure replacement components as described in this chapter up to fiftypercent (50%) of the cost of the component.