45-1711. State water and power development
fund
The state water and power development fund is established. The resolution or trust
indenture of the authority securing the bonds or notes shall fix the amount and the
provisions of the application of a bond reserve to be held by the state treasurer in such
development fund. The surplus revenues as determined pursuant to section 45-1708 from
each project included in the state water and power plan shall be deposited, pursuant to
sections 35-146 and 35-147, in the fund in accordance with the agreement between the
director and the authority referred to in section 45-1708, together with any other funds
which may be made available for the purposes of this article, including funds from the
state or federal government. Amounts in such development fund in excess of the bond
reserve therein shall be paid by the state treasurer in such manner and at such times as
shall be specified in the bond resolution or trust indenture securing such bonds or notes
to the trustee appointed by the authority thereunder. The bond reserve in such
development fund shall be applied by the state treasurer as provided in such resolution
or trust indenture.
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