A. The applicant demonstrates a reasonable likelihood that the applicant will be able to repay the loan;

B. The applicant demonstrates a reasonable likelihood that the applicant will not be able to obtain the funds necessary to undertake all or any part of the project from any other source, including a loan insured under section 1026-P 1026- A, subsection 1, paragraph A, subparagraph (1), division (c);

C. The project is technologically feasible; and

D. The project will contribute to a reduction of or more efficient use of fossil fuels.

The authority shall adopt rules for determining eligibility, project feasibility, terms, conditions and security for loans under this section. Rules adopted pursuant to this section are routine technical rules under Title 5, chapter 375, subchapter II-A 2-A. Money in the fund not currently needed to meet the obligations of the authority as provided in this section may be invested in such a manner as permitted by law.

Sec. 25. 10 MRSA §1023-K, sub-§5, as enacted by PL 1997, c. 500, §5, is amended to read:

5. Revolving fund. The fund is a nonlapsing, revolving fund. The fund must be continuously applied by the authority to carry out this section and section 1026-P 1026-A, subsection 1, paragraph A, subparagraph (1), division (c).

Sec. 26. 10 MRSA §1023-L, sub-§3-A, as enacted by PL 2001, c. 356, §6, is amended to read:

3-A. Use of funds by authority. The authority may use money in the fund to carry out any power of the authority under this section, section 1023-M, section 1026-R or section 1026-S 1026-A, subsection 1, paragraph A, subparagraph (1), division (d) or (e), including, but not limited to, the pledge or transfer and deposit of money in the fund as security for and the application of money in the fund in payment of principal, interest and other amounts due on insured loans. Money in the fund not needed to meet the obligations of the authority as provided in this section or section 1023-M may be invested as permitted by law. Any costs incurred by the authority in administering this fund may be taken from interest from all sources of the fund.