(a)

1. (1) After the satisfactory completion of the project, the borrower shall be held accountable by the Arkansas Natural Resources Commission for the continued validity of all representations and assurances made to the commission staff.
2. (2) Continuing cooperation with the commission staff is required.

(b) To help such cooperation and to enable the commission staff to protect the state's investment and the public interest, the following provisions shall be observed:

1. (1)

   1. (A) The commission staff is authorized to inspect the project and all project records any time during normal business hours.
   2. (B) If it is found that the project is being improperly or inadequately operated and maintained, the commission staff shall require the borrower to take corrective action.
   3. (C) Improperly or inadequately operated and maintained means to the extent that the project purposes are not being fulfilled or that integrity of the state's investment is being endangered;

2. (2)

   1. (A) The commission staff may request certified copies of all minutes, operating budgets, monthly operating statements, contracts, leases, deeds, audit reports, and other documents concerning the operation and maintenance of the project besides the requirements of the bond purchase agreement.
   2. (B) The financial assistance provided by the CWRLF is based on the project's economic feasibility.
   3. (C) The commission shares the borrower's desire to maintain this feasibility in the project's operation and maintenance.
   4. (D) The commission staff may periodically inspect, analyze, and monitor the project's revenues, operation, and any other information the commission staff requires to perform its duties and to protect the public interest;

3. (3)

   1. (A) The borrower agrees to maintain adequate financial records for the project.
   2. (B) The borrower will:

(i) Perform annual audits of the sewer system according to generally accepted accounting principles as set forth by the Governmental Accounting Standards Board and 40 C.F.R. pt. 35; and

1. (ii) Make these records available to the:

(b) (b) United States Environmental Protection Agency Inspector General or its authorized representative;

1. (4) The borrower, if required to carry out mitigative measures because of the environmental review process, shall continue to comply with those measures;

2. (5)

   1. (A) The borrower agrees to review and amend its user charge ordinance annually.

   2. (B) This is done to ensure that sufficient revenues are being generated for:

      1. (i) Operation;
      2. (ii) Maintenance;
      3. (iii) Replacement; and
      4. (iv) Debt service.
   3. (C) The borrower will submit a copy of any enacted ordinance amending user charges to the commission staff;
3. (6) The borrower agrees to enforce the approved sewer use ordinance for the life of the project to ensure the continued integrity of the sewer system; and
4. (7) The borrower shall provide and maintain a qualified operator of the appropriate license class for the project.