All outstanding securities of the state and of all qualified borrowers, all loan or other agreements entered into between the state or the division and any qualified borrower, all regulations promulgated by the commission and all acts and proceedings taken by or on behalf of the state or any qualified borrower with respect to the financing of eligible projects are validated, ratified, approved and confirmed. To the extent necessary to carry out its purposes, the commission shall treat any bonds, obligations or agreements of the state or the division that were entered into prior to April 4, 1991 for the purpose of effecting the provisions of the Wastewater Facility Construction Loan Act or the Clean Water Act as if such bonds, obligations or agreements were those recommended by the commission and issued by the board.

History: Laws 1991, ch. 172, § 12; 2018, ch. 19, § 8.

Cross references. — For the federal Clean Water Act of 1977, see 33 U.S.C. § 1251 et seq.

The 2018 amendment, effective May 16, 2018, established that all outstanding securities, loan or other agreements, and all acts taken by or on behalf of qualified borrowers with respect to the financing of eligible projects are validated, ratified, approved and confirmed; and replaced "local authority" with "qualified borrower" throughout the section, replaced "wastewater facility" with "eligible project" throughout the section, and after "entered into prior to", deleted "the effective date hereof" and added "April 4, 1991".