Application by municipal obligor: Action by Board; processing by Director.

1. The Board shall: (a) Review an application submitted by a municipal obligor; (b) Determine if the water project will preserve or increase the water available for beneficial use in the State; and (c) Approve or disapprove the project in the manner provided in NAC 349.335 , 349.340 , 349.345 and 349.355 . 2. If an application submitted by a municipal obligor is approved by the Board, the application will be processed by the Director in the manner provided in NAC 349.365 to 349.380 , inclusive.