Use of processing fee.

Whether or not bonds or securities are issued, the processing fee remitted to the Director will be used to reimburse any cost of a water project incurred by the Director pursuant to NAC 349.100 to 349.415 , inclusive, or any other interagency agreement made in connection with the financing of the proposed water project, including the preparation of a final plan for a water project and expenses of the Board in reviewing the project.