(a)
Loans may be made by the state board to public agencies to pay not more than one-half of the cost of studies and investigations made by such public agencies in connection with waste water reclamation.
(b)
Not more than a total of two hundred thousand dollars ($200,00) shall be loaned pursuant to this section in any fiscal year, and not more than fifty thousand dollars ($50,000) shall be loaned to any public agency in any fiscal year pursuant to this section. In the event that less than two million dollars ($2,000,000) is available in any fiscal year for loans under this article, then not more than 10 pecent of the available amount shall be available for loans for studies and investigations pursuant to this section.
(c)
Applications for such loans shall be made in such form, and shall contain such information, as may be required by the state board.
(d)
Such loans shall be repaid within a period not to exceed 10 years, with interest at a rate established in the manner provided in Section 13412.