Wisconsin Statutes Authorities and Public Corporations (Ch. 231 to 235) § 234.86. Drinking water loan guarantee program

(a) “Community water system” means a public water system that serves at least 15 service connections used by year-round residents or that regularly serves at least 25 year-round residents.

(b) “Department” means the department of natural resources.

(c) “Local governmental unit” has the meaning given in s. 281.61(1)(am), except that the term does not include a joint local water authority created under s. 66.0823.

(d) “Noncommunity water system” means a public water system that is not a community water system.

(e) “Public water system” has the meaning given in s. 281.61(1)(c).

(a) The borrower is not a local governmental unit and is one of the following:

(b) The loan qualifies as an eligible loan under sub. (3).

(c) The lender is a financial institution that enters into an agreement under s. 234.933(3)(a).

(a) The department determines that the loan will facilitate compliance with national primary drinking water regulations under 42 USC 300g-1 or otherwise significantly further the health protection objectives of the Safe Drinking Water Act, 42 USC 300f to 300j-26.

(b) The department determines that the loan satisfies the requirements under s. 281.625(2).

(4) Guarantee of collection. (a) Subject to par. (b), the authority may guarantee collection of a percentage, not exceeding 80 percent, of the principal of any loan eligible for a guarantee under this section. The authority shall establish the percentage of the unpaid principal of an eligible loan that will be guaranteed using the procedures described in the guarantee agreement under s. 234.933(3)(a). The authority may establish a single percentage for all guaranteed loans or establish different percentages for eligible loans on an individual basis.

(b) Except as provided in s. 234.933(4), the total outstanding principal amount of all guaranteed loans under par. (a) may not exceed $3,000,000.