Chapter 62-554, Florida Administrative Code (FAC), titled Water Storage Facility Loan Program, will establish procedures for administering this loan program, similar to the Drinking Water State Revolving Fund Program but without the Federal requirements. The Department will solicit proposals once per year when funding is available. Projects deemed environmentally sound and implementable will be ranked in accordance with criteria set forth in 373.475(4), F.S., and funded until funds run out. Loan application, agreement requirements, and state auditing requirements are similar to requirements in Drinking Water State Revolving Loan Program.