§167-22 Irrigation system revolving fund. (a) There is established the irrigation system revolving fund, into which shall be deposited:
(1) All legislative appropriations to the irrigation system revolving fund; and
(2) All or any portion of the receipts and revenues collected under this chapter, as determined by the board of agriculture.
(b) The irrigation system revolving fund shall be administered by the department of agriculture. Moneys in the revolving fund shall be expended for:
(1) Administrative costs, engineering surveys, economic studies, plans, and maps; and
(2) Other water projects or purposes of the board of agriculture.
In the event any moneys are expended from the revolving fund for engineering surveys, economic studies, plans, and other expenses directly attributable to any water project, or for the establishment of any water project, the amount of the expenditures shall be reimbursed to the revolving fund from any funds received by the board for and on account of the project. [L 1987, c 306, pt of §1; am L 1995, c 139, §5; am L 2011, c 124, §41]