Section 324.19706 - Great Lakes water quality bond fund; creation; subaccounts(1) The Great Lakes water quality bond fund is created in the state treasury.(2) The fund shall consist of all of the following:(a) The proceeds of sales of the bonds sold at public or private sale and any premium and accrued interest received on the delivery of the bonds.(b) Any interest or earnings generated by the proceeds described in subdivision (a).(c) Any federal or other funds received.(3) The department of treasury may establish restricted subaccounts within the fund as necessary to administer the fund.Add. 2002, Act 397, Eff. 11/5/2002 .