; (D) to community learning centers to connect and improve broadband services; and (E) to educational service agencies for building or repairing elementary schools, secondary schools, or other school facilities that provide free public education. (2) Interstate compacts Congress grants consent to two or more of the States, entering into a cooperative agreement under paragraph (1) with the Secretary of the Treasury for the establishment of a multistate infrastructure bank, to enter into an interstate compact establishing such bank in accordance with this section. (b) Funding The Secretary of the Treasury, in consultation with the Secretary of Education, shall make grants to State infrastructure banks and multistate infrastructure banks in a State in a cooperative agreement under subsection (a)(1) to provide initial capital for loans provided under this section. Each bank shall apply repayments of principal and interest on loans to the making of additional loans. The Secretary shall take final action on an application for a grant under this subsection within 90 days of the date of the submission of such application. (c) Infrastructure bank requirements In order to establish an infrastructure bank under this section, each State establishing the bank shall— (1) contribute, at a minimum, in each account of the bank from non-Federal sources an amount equal to 25 percent of the amount of each capitalization grant made to the State and contributed to the bank under subsection (b); (2) identify an operating entity of the State as recipient of the grant if the entity has the capacity to manage loan funds and issue debt instruments of the State for purposes of leveraging the funds; (3) allow such funds to be used as reserve for debt issued by the State so long as proceeds are deposited in the fund for loan purposes; (4) ensure that investment income generated by funds contributed to an account of the bank will be— (A) credited to the account