Okla. Stat. tit. 82, § 82-1085.64
This is the official text of Okla. Stat. tit. 82, § 82-1085.64, part of Oklahoma’s Stat. tit. 82, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 82,." Browse the sections below, each linked to its official government source.
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Revolving fund
Official statutory text
A. In order to administer the Clean Water State Revolving Fund
Loan Account, there is hereby created in the State Treasury a "Clean
Water State Revolving Fund Loan Administrative Fund". The Clean
Water State Revolving Fund Loan Administrative Fund shall be set
apart from all other Board accounts and funds and shall be a
permanent and perpetual fund not subject to fiscal year limitations.
Oklahoma Statutes - Title 82. Waters and Water Rights Page 250
The Clean Water State Revolving Fund Loan Administrative Fund shall
consist of monies deposited into the fund from the following
sources:
1. Loan processing and application processing and loan
administrative fees heretofore collected by the Oklahoma Water
Resources Board on loans made from the Clean Water State Revolving
Fund Loan Account and designated by the Board for transfer and
deposit into the Clean Water State Revolving Fund Loan
Administrative Fund;
2. Application processing and loan administrative fees
collected by the Board after the effective date of this section on
loans made from the Clean Water State Revolving Fund Loan Account;
and
3. Any other funds, whether public or private, that have been
designated by the source thereof for deposit in the Clean Water
State Revolving Fund Loan Administrative Fund.
B. Monies in, or investment income derived from, the Clean
Water State Revolving Fund Loan Administrative Fund shall be
restricted and used solely for the purpose of administering the
Clean Water State Revolving Fund Loan Account or as otherwise
authorized by the federal Water Quality Act of 1987 or guidance or
regulation promulgated thereunder. Monies in the Clean Water State
Revolving Fund Loan Administrative Fund, or investment income
derived therefrom shall be used by the Board in carrying out its
responsibilities as provided in Sections 1085.51 through 1085.65 of
this title and shall be subject to annual designation by the State
Legislature.
C. The monies placed in the Clean Water State Revolving Fund
Loan Administrative Fund may be invested by the State Treasurer in
an adequately collateralized manner and as prescribed by Section
89.2 of Title 62 of the Oklahoma Statutes or pursuant to investment
contracts or agreements with entities maintaining a rating in the
top two categories by a nationally recognized municipal bond rating
agency, all in a manner consistent with the federal Water Quality
Act of 1987 or regulations promulgated thereunder. The Board may
transfer to the Clean Water State Revolving Fund Loan Administrative
Fund income derived from investment of the Fund. Monies invested by
the State Treasurer shall be available to meet administrative
funding needs.
D. The Board is authorized to transfer monies from the Clean
Water State Revolving Fund Loan Administrative Fund into the Clean
Water State Revolving Fund Loan Account to be utilized for purposes
consistent with the federal Water Quality Act of 1987.
E. The Board shall cause to be completed an annual audit of any
expenditure from the Clean Water State Revolving Fund Loan
Administrative Fund.
Oklahoma Statutes - Title 82. Waters and Water Rights Page 251
Loan Account, there is hereby created in the State Treasury a "Clean
Water State Revolving Fund Loan Administrative Fund". The Clean
Water State Revolving Fund Loan Administrative Fund shall be set
apart from all other Board accounts and funds and shall be a
permanent and perpetual fund not subject to fiscal year limitations.
Oklahoma Statutes - Title 82. Waters and Water Rights Page 250
The Clean Water State Revolving Fund Loan Administrative Fund shall
consist of monies deposited into the fund from the following
sources:
1. Loan processing and application processing and loan
administrative fees heretofore collected by the Oklahoma Water
Resources Board on loans made from the Clean Water State Revolving
Fund Loan Account and designated by the Board for transfer and
deposit into the Clean Water State Revolving Fund Loan
Administrative Fund;
2. Application processing and loan administrative fees
collected by the Board after the effective date of this section on
loans made from the Clean Water State Revolving Fund Loan Account;
and
3. Any other funds, whether public or private, that have been
designated by the source thereof for deposit in the Clean Water
State Revolving Fund Loan Administrative Fund.
B. Monies in, or investment income derived from, the Clean
Water State Revolving Fund Loan Administrative Fund shall be
restricted and used solely for the purpose of administering the
Clean Water State Revolving Fund Loan Account or as otherwise
authorized by the federal Water Quality Act of 1987 or guidance or
regulation promulgated thereunder. Monies in the Clean Water State
Revolving Fund Loan Administrative Fund, or investment income
derived therefrom shall be used by the Board in carrying out its
responsibilities as provided in Sections 1085.51 through 1085.65 of
this title and shall be subject to annual designation by the State
Legislature.
C. The monies placed in the Clean Water State Revolving Fund
Loan Administrative Fund may be invested by the State Treasurer in
an adequately collateralized manner and as prescribed by Section
89.2 of Title 62 of the Oklahoma Statutes or pursuant to investment
contracts or agreements with entities maintaining a rating in the
top two categories by a nationally recognized municipal bond rating
agency, all in a manner consistent with the federal Water Quality
Act of 1987 or regulations promulgated thereunder. The Board may
transfer to the Clean Water State Revolving Fund Loan Administrative
Fund income derived from investment of the Fund. Monies invested by
the State Treasurer shall be available to meet administrative
funding needs.
D. The Board is authorized to transfer monies from the Clean
Water State Revolving Fund Loan Administrative Fund into the Clean
Water State Revolving Fund Loan Account to be utilized for purposes
consistent with the federal Water Quality Act of 1987.
E. The Board shall cause to be completed an annual audit of any
expenditure from the Clean Water State Revolving Fund Loan
Administrative Fund.
Oklahoma Statutes - Title 82. Waters and Water Rights Page 251
Status: in_force · Read it on the official government site
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