{"data":{"id":"us-ok/okla.-stat.-tit.-82-82-1085.77","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 82, § 82-1085.77","heading":"Powers and duties of Board","body":"A. In addition to other powers and duties provided by law, the\n\nBoard shall have the power and duty to:\n\n1. Manage, maintain, expend and otherwise administer monies in\n\nthe Water Resources Fund and any accounts or subaccounts therein,\n\nexcept as otherwise provided by paragraph 2 of this subsection,\n\npursuant to the provisions of Sections 1085.31 through 1085.39 of\n\nthis title;\n\n2. Manage, maintain, expend and otherwise administer monies in\n\nthe Drinking Water Treatment Revolving Loan Account pursuant to the\n\nstatutory authority of the Oklahoma Water Resources Board and shall\n\nmanage the account so as to make available the amounts necessary to\n\nfund loans to eligible entities entitled to receive funding;\n\n3. Establish separate accounts and subaccounts within the Water\n\nResources Fund and provide that such accounts be segregated and used\n\nfor specified purposes or held as security for designated\n\nobligations;\n\n4. Issue investment certificates to provide necessary funds for\n\nthe Drinking Water Treatment Revolving Loan Account pursuant to the\n\nprovisions of subsection B of this section;\n\n5. Enter into binding loan agreements with the eligible\n\nentities; and\n\n6. Transfer, when necessary, monies from the Drinking Water\n\nTreatment Revolving Loan Account to the Statewide Water Development\n\nRevolving Fund to be used for security or collateral for investment\n\ncertificates issued for the Drinking Water Treatment Revolving Loan\n\nAccount. The monies so transferred and the interest income from\n\nsuch monies shall be restricted for use to those programs authorized\n\nby the federal Safe Drinking Water Act. The Board shall establish\n\nsuch accounts and subaccounts within the Statewide Water Development\n\nRevolving Fund necessary to implement the provisions of this\n\nparagraph.\n\nB. The Board may issue investment certificates to provide\n\nnecessary funds for the Drinking Water Treatment Revolving Loan\n\nAccount; provided that said issuance shall be governed by the\n\nprovisions of Section 1085.33 and Section 1085.37 of this title.\n\nThe Board shall not issue such investment certificates unless:\n\n1. The Board has determined that the issuance of the investment\n\ncertificates is an economical way to provide loan funds to meet the\n\ndemand for funding and is beneficial for the long term stability of\n\nthe fund. Prior to issuance of any such bonds, the Board shall\n\nfully consider all comments submitted by the public concerning\n\nissuance of the bonds; and\n\n2. The issuance of such certificates has been reviewed and\n\napproved pursuant to the Oklahoma Bond Oversight and Reform Act.","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":"18fecfc7e1db67c78f5085880613b270c55ae2c552fd4e9265c1b5317b0e292b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-82-82-1085.76","next":"us-ok/okla.-stat.-tit.-82-82-1085.79"},"notice":"GroundRules: Original legal text. Not legal advice."}