§ 4774 - Contractual authority; reports
§ 4774. Contractual authority; reports
(a) The secretary and VEDA may enter into agreements on behalf of the state with agencies of the United States as may be necessary to obtain grants and awards in furtherance of the stated purposes of the loan fund created under section 4753 of this title, provided that notification of each such agreement shall be made to the chairs of the house and senate committees on appropriations while the general assembly is in session, and at other times to the chair of the joint fiscal committee, and that any such grant or award has been approved pursuant to section 5 of Title 32.
(b) Annually by January 15, the secretary and VEDA shall submit a report to members of the joint fiscal committee setting out the balance of the fund created by subdivision 4753(a)(3) of this title, loan awards made to date, funds anticipated to be made available in the coming year and any other matters of interest. (Added 1997, No. 62, § 75, eff. June 26, 1997.)