Governor Tom Vilsack signed a bill into law today which frees up 60-MILLIONdollars in low-interest state loans for water improvement projects. Thestate’s been handing out water preservation and restoration loans since1988. Eighty percent of the money comes from the feds, the other 20 percentis state money from the sale of bonds. The new law reworks the financing forthe revolving fund, reducing the interest rate on the loans tothree-and-a-half percent. Vilsack says Iowa is one of 22 states which usespecial cash reserves for clean water initiatives. Vilsack staged hisbill-signing ceremony outside, on the bank of the Des Moines River. Thelegislature approved the initiative unanimously.
