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<br />. <br /> <br />. <br /> <br />b. Monies from an escrow account could be used for <br />.pay-as-you-go. financing or for debt financing (i.e.. <br />these revenues could be used to repay the principal and <br />interest on borrowed funds). <br /> <br />c. A state would have the discretion to make loans or <br />grants of monies from an escrow account to a project's <br />beneficiaries. If these funds were loaned for project <br />financing. receipts from the repayment of such loans <br />(principal and interest) would accrue to each state and <br />would no longer be SUbject to any provision of this <br />agreement or the escrow accounts. <br /> <br />d. The revenues from this component of the rate which <br /> <br /> <br />accrue to New Mexico could be rebated to its CRSP power <br /> <br /> <br />customers at the state's option. <br /> <br />5. Conditions on the use of monies from the escrow accounts <br /> <br />a. All projects would be subject to all applicable federal <br /> <br /> <br />regulatory laws and programs. including. but not limited to <br /> <br /> <br />...[to be completed in final sent to CREDA) . <br /> <br />b. Cost Sharing reguirements (i.e.. the requirement that <br /> <br /> <br />state government. local government, or private funds be <br /> <br /> <br />made available as monies from an escrow account are <br /> <br /> <br />expended). <br /> <br />-7- <br />