Ch. 673

1997 LAWS OF MARYLAND

and collector sewers; pumping and ventilating stations, facilities, and works; programs
and projects for controlling nonpoint sources of water pollution and for estuarine
conservation and management; and other real or personal property and appurtenances
incident to their development, use, or operation.

[(q)](R) (U) (R) "Water Quality Fund" means the Maryland Water Quality
Revolving Loan Fund.

[(r)] (S) (V) (S) "Water supply system" has the meaning stated in § 9-201(u)
of this title.

9-1605.

(a)     (1) There is a Maryland Water Quality Revolving Loan Fund. The Water
Quality Fund shall be maintained and administered by the Administration in accordance
with the provisions of this subtitle and such rules or program directives as the Secretary or
the Board may from time to time prescribe.

(2)     The Water Quality Fund is a special, continuing, nonlapsing fund which
is not subject to § 7-302 of the State Finance and Procurement Article and which shall be
available in perpetuity for the purpose of providing financial assistance in accordance
with the provisions of this subtitle and Title VI of the Federal Water Pollution Control
Act.

(3)     Subject to the provisions of any applicable bond resolution regarding the
holding or application of amounts in the Water Quality Fund, the Treasurer shall
separately hold, and the Comptroller shall account for, the Water Quality Fund.

(4)     Subject to the provisions of any applicable bond resolution governing the
investment of amounts in the Water Quality Fund, the Water Quality Fund shall be
invested and reinvested in the same manner as other State funds, EXCEPT THAT THE
ADMINISTRATION MAY, IN COOPERATION WITH THE TREASURER, ESTABLISH A
LINKED DEPOSIT PROGRAM TO EFFECT THE PURPOSES OF THIS SUBTITLE AND
TITLE VI OF THE FEDERAL WATER POLLUTION CONTROL ACT.

(5)     Any investment earnings shall be retained to the credit of the Water
Quality Fund.

(6)     The Water Quality Fund shall be subject to biennial audit by the Office
of Legislative Audits as provided for in § 2-1215 of the State Government Article.

(b)     There shall be deposited in the Water Quality Fund:

(1)     Federal capitalization grants and awards or other federal assistance
received by the State pursuant to Title VI of the Federal Water Pollution Control Act
AND ANY FUNDS TRANSFERRED TO THE WATER QUALITY FUND PURSUANT TO § 302
OF THE FEDERAL SAFE DRINKING WATER ACT;

(2)     Funds appropriated by the General Assembly for deposit to the Water
Quality Fund;

(3)     Payments received from any [local government] BORROWER in
repayment of a loan, including amounts withheld by the State Comptroller and paid to the

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