§ 122E-5. Administration.
§122E‑5. Administration.
(a) The North CarolinaHousing Finance Agency shall administer the Fund in accordance with thepolicies, rules and regulations promulgated by the Partnership.
(b) The Agency'sresponsibilities shall include:
(1) The Management ofthe overall program for the use of the fund;
(2) Development ofprogram design in accordance with policies established by the Partnership;
(3) Development andmanagement of a selection system in accordance with policies established by thePartnership;
(4) Provision oftechnical assistance to prospective applicants; and
(5) Monitoring ofprojects to ensure compliance with applicable State and federal laws andregulations and relevant court decisions.
(6) The Agency shallpromulgate rules and regulations governing the administration of the Fund andits overall program for use of the Fund in accordance with the policies, rulesand regulations promulgated by the Partnership.
(c) In administeringthe Fund, the Agency shall maintain a separate account for and shall keepseparate records regarding the principal and expenditures made from theStripper Well Litigation funds and the Diamond Shamrock Litigation funds inorder to assure the proper expenditure and reporting of these funds to therespective courts and to the United States Department of Energy.
(d) The Agency shallfile all required reports with the appropriate courts in the Stripper WellLitigation and in the Diamond Shamrock Litigation, and otherwise shall fullycomply with all relevant court orders. The Agency also shall file the reportof planned expenditures which is required under Paragraph II. B. 3. f. iv ofthe Final Settlement Agreement in the Stripper Well Litigation prior to itsfirst expenditure of Stripper Well Litigation Funds. (1987,c. 841, s. 1.)