Expense of operation and maintenance means any reasonable and necessary current expense of the State for the operation, maintenance or administration of a water project or of the collection and administration of revenues from a water project. The term includes, among other expenses: 1. Expenses for engineering, auditing, reporting, legal services and other expenses of the Director which are directly related to the administration of water projects. 2. Premiums for fidelity bonds and policies of property and liability insurance pertaining to water projects, and shares of the premiums of blanket bonds and policies which may be reasonably allocated to the State. 3. Payments to pension, retirement, health insurance and other insurance funds. 4. Reasonable charges made by any paying agent, commercial bank, credit union, trust company or other depository bank pertaining to any bonds. 5. Services rendered under the terms of contracts, services of professionally qualified persons, salaries, administrative expenses and the cost of materials, supplies and labor pertaining to the issuance of any bonds, including the expenses of any trustee, receiver or other fiduciary. 6. Costs incurred in the collection and any refund of revenues from the water project, including the amount of the refund.
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