Sec. 42. (a) The board may adopt a resolution authorizing the board to provide financial assistance, including grants, to property owners to construct or install regulating devices, improvements, or overhead plumbing or backflow prevention devices for one (1) or more of the following purposes:

(1) To regulate or prevent discharge into private dwellings.

(2) To prevent the pollution of streams or bodies of water.

(3) To reduce or ameliorate inflow and infiltration in sewage works.

(4) To remedy or prevent a menace to the public health and welfare.

(b) A resolution adopted by the board under subsection (a) must do the following:

(1) State that provided financial assistance as described in subsection (a) will accomplish one (1) or more of the purposes listed in subsection (a)(1) through (a)(4).

(2) State that the board anticipates that the costs associated with providing the financial assistance will be less than the financial burdens potentially incurred if the financial assistance is not provided.

(3) Find that providing financial assistance as described in subsection (a) is necessary to avoid or reduce additional financial burdens.

(4) Establish rules and regulations concerning financial assistance provided under subsection (a). A rule or regulation must provide that:

(A) a grant or other financial assistance provided by the board may not exceed eighty percent (80%); and

(B) the property owner that receives the financial assistance must pay for at least twenty percent (20%);

of the total anticipated cost of the project for which the financial assistance is provided.

As added by P.L.168-2009, SEC.11.