Sec. 15.733.  ADMINISTRATION AND OPERATION OF FUND.  (a)  The board shall administer the fund in accordance with state law, rules of the board, and any federal requirements imposed because of a grant of money to the fund by an agency of the federal government.
(b)  The board may execute agreements with the Environmental Protection Agency or any other federal agency to establish and administer the fund and may discharge the duties and responsibilities required for the administration of the fund.
(c)  The fund consists of money derived from federal grants, from earnings on the investment of money credited to the fund, and, at the board's discretion, from any other available source.
(d)  The board shall deposit money received for repayment of a plumbing assistance loan made to a political subdivision in the fund.
(e)  At the direction of the governor, any money in the fund may be transferred to the state water pollution control revolving fund under Subchapter J of this chapter.
(f)  The fund remains available in perpetuity for providing loans under this subchapter, except to the extent that the fund may be reduced or eliminated as provided by this subchapter.
Added by Acts 1991, 72nd Leg., ch. 294, Sec. 6, eff. June 7, 1991.