Rhode Island Code of Regulations
Title 830 - Infrastructure Bank
Chapter 10 - Programs
Subchapter 15 - Septic and Sewer
Part 1 - Clean Water State Revolving Fund Loan Policies and Procedures (830-RICR-10-15-1)
Section 830-RICR-10-15-1.9 - Compliance with State and Federal Law

A. The Borrower must comply with all applicable state laws and regulations. Recipients of loans must also comply with all requirements of 33 U.S.C. §§ 1381 to 138 and regulations and guidance issued thereunder in addition to any other applicable federal laws and regulations.

B. In addition, the Borrower must agree to take all action, or refrain from taking any action, that would cause interest on any obligations of the Bank to be included, for federal income tax purposes, in the gross income of the holders of such obligations.