Michigan Laws 324.5314 – Costs of administering and implementing part; payment
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The costs of administering and implementing this part by the department, the designated agents of the department, and the authority may be paid from funds annually appropriated by the legislature from 1 or more of the following sources:
(a) An amount taken from the federal capitalization grant, subject to the limitations prescribed in the federal water pollution control act.
Terms Used In Michigan Laws 324.5314
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Authority: means the Michigan municipal bond authority created in the shared credit rating act, 1985 PA 227, MCL 141. See Michigan Laws 324.5301
- Capitalization grant: means the federal grant made to this state by the United States Environmental Protection Agency for the purpose of establishing a state water pollution control revolving fund, as provided in title VI of the federal water pollution control act, 33 USC 1381 to 1389. See Michigan Laws 324.5301
- Department: means the director of the department of natural resources or his or her designee to whom the director delegates a power or duty by written instrument. See Michigan Laws 324.301
- Federal water pollution control act: means 33 USC 1251 to 1389. See Michigan Laws 324.5301
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Fund: means the state water pollution control revolving fund established under section 16a of the shared credit rating act, 1985 PA 227, MCL 141. See Michigan Laws 324.5301
(b) Loan fees, not to exceed the ratio that the annual appropriation for administration of this part bears to the total value of loans awarded for the fiscal year in which the appropriation was made, as estimated in the intended use plan.
(c) Interest or earnings realized on loan repayments to the fund, unless the earnings are pledged to secure or repay any indebtedness of the authority.
(d) Proceeds of bonds or notes issued pursuant to the fund and sold by the authority.
(e) Any other money appropriated by the legislature.