[§340E-33]  Powers and duties.  (a)  Thedirector may approve grants, loans, and other financial assistance consistentwith this part and the Federal Act to eligible public water systems in theState.

(b)  The director may enter into any necessaryor required agreement and give or make any necessary or required assurance,designation, or certification with or to any person in order to receivepayments or to make or provide any financial assistance in conformance with theFederal Act.

(c)  The director may enter into grantagreements with the administrator of the United States Environmental ProtectionAgency and accept drinking water fund capitalization and other grants.  Federalcapitalization grants shall be used only for the drinking water fund and otheruses allowed by the Federal Act (e.g., section 1452(a)(2), (a)(3), (d), (g)(2),and (k) of the Federal Act).

(d)  The director may adopt rules pursuant tochapter 91 for the purposes of this part, including rules setting fees forloans and other financial assistance issued through the drinking water fund andpenalties for default of loans or other financial assistance.

(e)  The director shall establish fiscalcontrols and accounting procedures at least sufficient to assure properaccounting for appropriate accounting periods of payments, disbursements,revenues, and fees received and made for fund balances at the beginning and endof the accounting period.  Federal funds in the drinking water fund shall bekept in a separate account or series of accounts from the account or accountsfor state funds in the drinking water fund.

(f)  The director may perform any actconsidered reasonably necessary, advisable, or expedient for the administrationof this part or the advancement of the purposes of this part.

(g)  The director may create one or moreseparate accounts or subaccounts within the drinking water fund and may specifyany conditions applicable to the transfer of moneys and securities among suchaccounts and subaccounts.

(h)  The director may create one or moreseparate accounts or subaccounts outside the drinking water fund to handlefunds for programs and administrative expenses consistent with the Federal Act,and the director may specify any conditions applicable to the transfer ofmoneys and securities among such accounts and subaccounts and to the drinkingwater fund.

(i)  Moneys in accounts outside the drinkingwater fund may be placed in interest bearing investments or otherwise investedat the discretion of the director until such time as the moneys may be needed. All interest accruing from the investment of these moneys shall be credited toaccounts established under this part as the director considers appropriate.

(j)  Not less than twenty days prior to theconvening of each regular session of the legislature, the director shall submitto the legislature a financial report addressing the operations of the drinkingwater fund during the last completed fiscal year, including information on eachgrant, loan, or other financial assistance made during that year.  The reportshall include:

(1)  The name of the recipient;

(2)  The effective date of the financial assistance;

(3)  The amount provided; and

(4)  The intended or actual use of the funds. [L 1997,c 218, pt of §2]