(1) Provide, make, and condition loans;

(2) Guarantee county or state agency loans and bonds and to purchase or provide bond insurance or other credit enhancement or liquidity support for county or state agency debt service payments where such action would improve credit market access or reduce interest rates;

(3) Buy or refinance debt obligations of counties or state agencies at or below market rates, where such debt obligations were incurred after March 7, 1985;

(4) Support and pay the reasonable costs of administering the revolving fund, including operation and maintenance of the revolving fund, subject to the limits in Title 33 United States Code section 1383(d)(7) and Title 40 Code of Federal Regulations section 35.3120(g), and to provide a source of revenue or security for such support and payment;

(5) Pay the principal, interest, and redemption premium, if any, on revenue bonds issued by the director if the proceeds of such revenue bonds will be deposited in the revolving fund; and

(6) Provide interest rate subsidies from earnings on corpus allocation to subsidize loans to counties and state agencies made from the proceeds of the revenue bonds of the department.