N.M. Admin. Code § 19.25.10.18

Current through Register Vol. 35, No. 23, December 10, 2024

Section 19.25.10.18 - ADMINISTRATION OF THE WATER PROJECT FUND

A. The water project fund shall be administered by the authority as a separate account, but may consist of such subaccounts as the authority deems necessary to carry out the purposes of the fund.

B. Money from repayments of loans made by the board for qualifying water projects shall be deposited in the water project fund. The water project fund shall also consist of any other money appropriated, distributed or otherwise allocated to the water project fund for the purpose of financing qualifying water projects.

C. The authority shall adopt a uniform accounting system for the water project fund and each account and subaccount established by the authority, based on generally accepted accounting principles.

D. The authority may establish procedures and adopt rules as required to administer the fund and to recover from the fund costs of administering the fund and originating grants and loans.

N.M. Admin. Code § 19.25.10.18

19.25.10.18 NMAC - Rp, 19.25.10.18 NMAC, 7/31/08