(1) The purpose of this subchapter is to implement the Water Pollution Control State Revolving Fund Act pursuant to Title 75, chapter 5, part 11, MCA, and sections 601 through 607 of the Federal Water Pollution Control Act, 33 USC 1381 through 1387, as amended.

(2) This program creates a perpetual financing mechanism for eligible water pollution control projects through use of loans and other financial incentives.

(3) The department of natural resources and conservation may also adopt rules that address measures for protecting the financial solvency of the water pollution control state revolving fund, including measures requiring debt security requirements for loans.