§167-22  Irrigation system revolving fund. (a)  There is established the irrigation system revolving fund, into whichshall be deposited:

(1)  All legislative appropriations to the irrigationsystem revolving fund; and

(2)  All or any portion of the receipts and revenuescollected under this chapter, as determined by the board of agriculture,exclusive of the receipts and revenues deposited into the irrigation waterdevelopment special fund.

(b)  The irrigation system revolving fund shallbe administered by the department of agriculture.  Moneys in the revolving fundshall be expended for:

(1)  Administrative costs, engineering surveys,economic studies, plans, and maps; and

(2)  Other water projects or purposes of the board ofagriculture. 

In the event any moneys are expended from therevolving fund for engineering surveys, economic studies, plans, and otherexpenses directly attributable to any water project, or for the establishmentof any water project, the amount of the expenditures shall be reimbursed to therevolving fund from any funds received by the board for and on account of theproject. [L 1987, c 306, pt of §1; am L 1995, c 139, §5]