STATE OF OKLAHOMA

1st Session of the 53rd Legislature (2011)

SENATE BILL 741	By:	Schulz

AS INTRODUCED

An Act relating to water infrastructure; creating the Water Infrastructure Revolving Fund; stating source of funds; stating purpose; providing for codification; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 1085.85 of Title 82, unless there is created a duplication in numbering, reads as follows:
There is hereby created in the State Treasury a revolving fund for the Oklahoma Water Resources Board to be designated the “Water Infrastructure Revolving Fund”.  The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received by the Oklahoma Water Resources Board from any source, whether public or private, that have been designated for deposit in the Water Infrastructure Revolving Fund.  All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Oklahoma Water Resources Board for the purpose of establishing and maintaining critical water infrastructure in all areas of the state.  Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of State Finance for approval and payment.
SECTION 2.  This act shall become effective November 1, 2011.

53-1-716	MJM	1/19/2011 7:54:51 PM