15A NCAC 02G .0505. NOTIFICATION AND PAYMENT

(a)  The Commission will notify applicants of the decisions made regarding their allocation requests.

(b)  Recipients of Level I allocations are required to pay a proportional share of the state's total water supply storage capital and interest costs over a term suitable to the recipient and the Commission, but by 2012.  Interest rates will vary with the payback term, and will be based on the state recovering the total federal capital and interest costs associated with water supply storage by 2012.  After 2012, the Commission may review and adjust repayment requirements to assure equitable and efficient allocation of the resource.  Level I recipients are also required to pay annually a proportional share of operating costs.

(c)  Holders of Level II allocations are required to pay a proportional share of the project's water supply storage interest and operating costs.

 

History Note:        Authority G.S. 143‑215.3(a)(1); 143‑354(a)(11); 143B‑282;

Eff. March 1, 1988.