(a) The federal matching account is an account in the resiliency fund.
(b) The board may use the account only to meet matching requirements for projects
funded partially by federal money, including projects funded by the United States
Army Corps of Engineers.
(c) The board may use the account to make a loan to an eligible political subdivision
below market interest rates and under flexible repayment terms, including a line of
credit or loan obligation with early prepayment terms, to provide financing for the
local share of a federally authorized ship channel improvement project.
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