A. In addition to other powers and duties provided by law, the Oklahoma Water Resources Board shall have the power and duty to: 1. After receipt from the Oklahoma Department of Emergency Management and Homeland Security, process applications for grant funds or loans from the Hazard Mitigation Financial Assistance Fund and enter into grant or loan agreements for use of such funds; 2. Promulgate rules as deemed necessary by the Board to administer the Hazard Mitigation Financial Assistance Program; 3. Utilize the priority listing of applicants compiled by the Oklahoma Department of Emergency Management and Homeland Security in considering applications; 4. a. Issue investment certificates, in accordance with the provisions of Sections 1085.33 and 1085.37 of this title and the Oklahoma Bond Oversight and Reform Act, to provide necessary funds first to meet the demand for loan funding from the Hazard Mitigation Financial Assistance Program; provided, any investment certificate proceeds not needed for such demand may be used by the Board, as needed, for funding other financial assistance programs authorized in this title, and b. Enter into loan agreements with and make loans from the proceeds of investment certificates to eligible entities for hazard mitigation projects upon terms not inconsistent with the provisions of Section 1085.36 of this title; and 5. Enter into agreements with the Oklahoma Department of Emergency Management and Homeland Security or other state or federal agencies as deemed necessary by the Board to monitor and measure hazard events. B. In addition to other powers and duties provided by law, the Oklahoma Department of Emergency Management and Homeland Security shall: 1. Promulgate rules providing for and establishing a priority listing of grant and loan applicants for flood hazard mitigation projects subject to the Oklahoma Civil Defense and Emergency Resources Management Act; and 2. Determine eligibility of those entities authorized to receive funding from the Hazard Mitigation Financial Assistance Fund. Added by Laws 1999, c. 57, § 16, eff. July 1, 1999. Amended by Laws 1999, c. 413, § 9, eff. Nov. 1, 1999; Laws 2023, c. 138, § 4, eff. Nov. 1, 2023.
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