§342D-82  Powers and duties.  (a)  Inaddition to any other power or duty prescribed by law, the director shall:

(1)  Establish fiscal controls and accountingprocedures at least sufficient to assure proper accounting for appropriateaccounting periods of payments, disbursements, revenues, and fees received andmade for fund balances at the beginning and end of the accounting period;

(2)  Comply with sections 39-61 and 39-62 and ensurethat any revenue bonds issued are excluded from the state constitutional debtceiling.  The revolving fund is a "special fund" within the meaningof Article VII, section 13, of the State Constitution and part III of chapter39.  The revolving fund is not a "special fund" within the meaning ofsections 36-27 and 36-30; and

(3)  No later than twenty days prior to the conveningof each regular session of the legislature, submit to the legislature afinancial report addressing the operations of the revolving fund during thelast completed fiscal year.

(b)  The director may:

(1)  Provide financial assistance consistent with thispart to any eligible party for the prevention, control, and abatement of waterpollution in the State;

(2)  Enter into any necessary or required agreementand give or make any necessary or required assurance, designation, orcertification with or to any person in order to receive payments or to make orprovide any financial assistance in conformance with Title 33 United StatesCode sections 1329, 1330, and 1383 to 1387;

(3)  Enter into grant agreements with theadministrator of the United States Environmental Protection Agency and acceptcapitalization grants;

(4)  Adopt rules pursuant to chapter 91 for thepurposes of this part, including rules setting fees for loans issued throughthe revolving fund and penalties for default of loan repayments;

(5)  Pledge funds, loans, and accounts or subaccountsin the revolving fund to the payment or security of revenue bonds or loansissued under this part and make such corpus allocations as the director deemsappropriate.  The pledge shall constitute a lien and security interest on suchfunds and loans to the extent and with the priority as set forth in thedocument establishing the pledge, without physical delivery, recording, orother further act;

(6)  Perform any act considered reasonably necessary,advisable, or expedient for the administration of this part or the advancementof the purposes of this part; and

(7)  Direct the creation of one or more separateaccounts or subaccounts within the revolving fund and specify any conditionsapplicable to the transfer of moneys and securities among the accounts andsubaccounts. [L 1997, c 221, pt of §1; am L 2002, c 132, §5]

 

Note

 

  Agency rules shall supersede the 2002 amendment until therules are amended, repealed, or replaced.  L 2002, c 132, §9.