62.1-241.12 - Combined Sewer Overflow Matching Fund established; purposes. - Virginia Statutes

§ 62.1-241.12. Combined Sewer Overflow Matching Fund established; purposes.

There is hereby established the Combined Sewer Overflow Matching Fund("Fund") to match federal money for purposes of providing grants tolocalities for CSO projects. The Fund shall be established out of the sumsappropriated from time to time by the General Assembly for the purpose ofmatching federal funds allocated to Virginia for CSO controls. The Fund, andall income from the investment of moneys held in the Fund and any other sumsdesignated for deposit to the Fund from any source, public or private, shallbe set apart as a permanent and perpetual fund, subject to liquidation onlyupon the solution of Virginia's combined sewer overflow problems, as may bedetermined by the General Assembly. The Fund shall be administered andmanaged by the Virginia Resources Authority, subject to the right of theState Water Control Board, following consultation with the Authority, todirect the distribution of grants from the Fund to particular localgovernments. The State Water Control Board may establish such terms andconditions on any grant as it deems appropriate, and grants shall bedisbursed from the Fund by the Virginia Resources Authority in accordancewith the written direction of the State Water Control Board.

(1992, c. 363.)