The secretary shall administer the provisions of this act and shall be responsible for administration and management of the fund. The secretary is hereby authorized to: (a) Enter into binding commitments for the provision of loans in accordance with the provisions of this act; (b) review applications of municipalities for loans and select the projects for which loans will be made available; (c) provide the governor and the legislature with an annual report prepared in accordance with K.S.A. 65-163k and with copies of the audit required under K.S.A. 65-163e; and (d) adopt rules and regulations necessary for effectuation of the provisions of this act.
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