{"data":{"id":"us-ok/okla.-stat.-tit.-82-82-1085.73","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 82, § 82-1085.73","heading":"Creation - Monies and other sums - Investments","body":"A. Within the Water Resources Fund created pursuant to Section\n\n1085.33 of this title, there is hereby created the \"Drinking Water\n\nTreatment Revolving Loan Account\". For purposes of implementing the\n\nfederal Safe Drinking Water Act, said account shall be the drinking\n\nwater treatment state revolving loan fund required to be established\n\nby the federal Safe Drinking Water Act. The Drinking Water\n\nTreatment Revolving Loan Account shall be set apart as a permanent\n\nand perpetual account not subject to fiscal year limitations and\n\nshall consist of:\n\n1. Monies received pursuant and subject to the restrictions of\n\nthe federal Safe Drinking Water Act which are eligible for use in\n\nstate revolving loan funds established to meet the requirements of\n\nthat act;\n\n2. Monies appropriated to the account;\n\n3. Payments of principal and interest and penalty payments on\n\nloans made directly from federal grant monies and state-appropriated\n\nmonies in the account;\n\n4. Payments of principal and interest and penalty payments on\n\nloans made from the proceeds of the sale of investment certificates\n\nin the account or as may be provided in applicable bond resolutions\n\nor indentures as appropriate;\n\n5. All income from the investment of monies held in the account\n\nconsistent with applicable bond resolutions or indentures as allowed\n\nby the federal Safe Drinking Water Act;\n\n6. Proceeds from the sale of investment certificates issued to\n\nprovide water treatment loans pursuant to the provisions of this act\n\nexcept as otherwise provided by the applicable bond resolutions or\n\nindentures as appropriate; and\n\n7. Any other sums designated for deposit to the account from\n\nany source, public or private.\n\nB. The principal amounts of the federal capitalization grants,\n\nless program set-asides, and state matching funds in the Drinking\n\nWater Treatment Revolving Loan Account shall be maintained for\n\nproviding financial assistance in accordance with the federal Safe\n\nDrinking Water Act.\n\nC. The monies in the Drinking Water Treatment Revolving Loan\n\nAccount shall be used for the purpose of making loans to eligible\n\nentities pursuant to the provisions of this act or for such other\n\npurposes authorized by the federal Safe Drinking Water Act.\n\nD. The monies placed in the Drinking Water Treatment Revolving\n\nLoan Account shall be invested by the State Treasurer in an\n\nadequately collateralized manner and as prescribed by Section 89.2\n\nof 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, in the manner consistent with the provisions of the federal\n\nSafe Drinking Water Act. Monies invested by the State Treasurer\n\nshall be available to meet program needs for funding as established\n\nby the Department.\n\nE. Notwithstanding the provisions of Section 1085.39 of this\n\ntitle, the Board shall not use funds in the Drinking Water Treatment\n\nRevolving Loan Account established in the Water Resources Fund to\n\nmake grants.","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":"7984773d517e59d00ec04be817ff4e6ddfd2fa91cee75b81a1242bd8a4ff109a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-82-82-1085.72","next":"us-ok/okla.-stat.-tit.-82-82-1085.74"},"notice":"GroundRules: Original legal text. Not legal advice."}