{"data":{"id":"us-ok/okla.-stat.-tit.-82-82-1085.64","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 82, § 82-1085.64","heading":"Revolving fund","body":"A. In order to administer the Clean Water State Revolving Fund\n\nLoan Account, there is hereby created in the State Treasury a \"Clean\n\nWater State Revolving Fund Loan Administrative Fund\". The Clean\n\nWater State Revolving Fund Loan Administrative Fund shall be set\n\napart from all other Board accounts and funds and shall be a\n\npermanent and perpetual fund not subject to fiscal year limitations.\n\nThe Clean Water State Revolving Fund Loan Administrative Fund shall\n\nconsist of monies deposited into the fund from the following\n\nsources:\n\n1. Loan processing and application processing and loan\n\nadministrative fees heretofore collected by the Oklahoma Water\n\nResources Board on loans made from the Clean Water State Revolving\n\nFund Loan Account and designated by the Board for transfer and\n\ndeposit into the Clean Water State Revolving Fund Loan\n\nAdministrative Fund;\n\n2. Application processing and loan administrative fees\n\ncollected by the Board after the effective date of this section on\n\nloans made from the Clean Water State Revolving Fund Loan Account;\n\nand\n\n3. Any other funds, whether public or private, that have been\n\ndesignated by the source thereof for deposit in the Clean Water\n\nState Revolving Fund Loan Administrative Fund.\n\nB. Monies in, or investment income derived from, the Clean\n\nWater State Revolving Fund Loan Administrative Fund shall be\n\nrestricted and used solely for the purpose of administering the\n\nClean Water State Revolving Fund Loan Account or as otherwise\n\nauthorized by the federal Water Quality Act of 1987 or guidance or\n\nregulation promulgated thereunder. Monies in the Clean Water State\n\nRevolving Fund Loan Administrative Fund, or investment income\n\nderived therefrom shall be used by the Board in carrying out its\n\nresponsibilities as provided in Sections 1085.51 through 1085.65 of\n\nthis title and shall be subject to annual designation by the State\n\nLegislature.\n\nC. The monies placed in the Clean Water State Revolving Fund\n\nLoan Administrative Fund may be invested by the State Treasurer in\n\nan adequately collateralized manner and as prescribed by Section\n\n89.2 of Title 62 of the Oklahoma Statutes or pursuant to investment\n\ncontracts or agreements with entities maintaining a rating in the\n\ntop two categories by a nationally recognized municipal bond rating\n\nagency, all in a manner consistent with the federal Water Quality\n\nAct of 1987 or regulations promulgated thereunder. The Board may\n\ntransfer to the Clean Water State Revolving Fund Loan Administrative\n\nFund income derived from investment of the Fund. Monies invested by\n\nthe State Treasurer shall be available to meet administrative\n\nfunding needs.\n\nD. The Board is authorized to transfer monies from the Clean\n\nWater State Revolving Fund Loan Administrative Fund into the Clean\n\nWater State Revolving Fund Loan Account to be utilized for purposes\n\nconsistent with the federal Water Quality Act of 1987.\n\nE. The Board shall cause to be completed an annual audit of any\n\nexpenditure from the Clean Water State Revolving Fund Loan\n\nAdministrative Fund.","path":["OK Code","Title 82"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os82.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"1aded99cbdab6bd17105534c3d82f2de281c98f738728bf8f3b23ace1db55b98","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-82-82-1085.63","next":"us-ok/okla.-stat.-tit.-82-82-1085.65"},"notice":"GroundRules: Original legal text. Not legal advice."}