1. Each petition to the Director must describe the proposed flood control project or riparian survey, state the amount of money requested, and designate the areas to be assessed to reimburse the Flood Control Account. 2. The Director shall determine the period to be allowed for repayment of the money loaned, which period may not be longer than 5 years from the date of the loan. 3. The Director shall, between the first Monday of October and the first Monday of December of each year following the date of any loan, prepare a budget based on repayment of the loan in equal annual installments showing the amount of money to be repaid in the next succeeding fiscal year, and shall submit the budget to the board of county commissioners of the county in which the project or survey is located. If the project or survey is located in more than one county, separate budgets must be prepared for each county.
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