Purpose
Created as a special fund composed of appropriations, other fees or sources dedicated by the legislature, loan repayments, interest earned, gifts, grants or donations, money from revenue bonds and proceeds from the sale of political subdivision bonds held in the fund, not otherwise pledged to the repayment of the bonds. Used to implement water projects by making low-interest loans and grants to political subdivisions, as a source of revenue or security for payment of principal and interest on bonds and to pay administration expenses.
