The secretary shall administer the provisions of Kan. Stat. Ann. §§ 65-3321 through 65-3329, shall be responsible for administration and management of the fund, and is hereby authorized to:

(a) Enter into agreements with the administrator, which agreements shall include but not be limited to the specific requirements of the federal act;

(b) establish jointly with the administrator a schedule of payments under which the administrator will pay to the state the amounts made available under the federal act;

(c) accept amounts paid to the state in accordance with the schedule of payments and cause such amounts to be deposited in the state treasury and credited to the fund;

(d) enter into binding commitments for the provision of loans in accordance with the requirements of the federal act and the provisions of Kan. Stat. Ann. §§ 65-3321 through 65-3329;

(e) review applications of municipalities for loans and select the projects for which loans will be made available each year;

(f) provide the administrator, the governor and the legislature with the annual report prepared in accordance with Kan. Stat. Ann. §§ 65-3328 and with copies of the audit required under Kan. Stat. Ann. § 65-3322; and

(g) adopt rules and regulations necessary for effectuation of the provisions of Kan. Stat. Ann. §§ 65-3321 through 65-3329.