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



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



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



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



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



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



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