afbd802f_Infrastructure_Replacement__Disadvantage
[Funding Mechanism] State Revolving Fund [Advantage] � Below market interest rates � Low issuance costs � Few restrictive covenants � Some can be subordinated [Disadvantage] 
� Competitive process to receive loan funds based on priority ranking system � Loan awards dependent on the availability of funds � Limited or no flexibility in loan repayment structure
Infrastructure Replacement
Disadvantage