Sec 37-132.01. Performance and restoration account; agreements with public and private entities

A. The proceeds of any security imposed by the commissioner as a condition of sale pursuant to section 37-132, subsection A, paragraph 5 and the proceeds of a bond, collateral or security received pursuant to section 37-132, subsection B, paragraph 3 or section 37-335.06, subsection B shall be deposited in a separate account of the state land department fund that is designated as the performance and restoration account and that shall be used for the performance or restoration purposes for which the bond, collateral or security was acquired. The commissioner shall administer the account.

B. The commissioner may enter into an agreement with a private entity or an intergovernmental agreement pursuant to title 11, chapter 7, article 3 to coordinate the review and approval of plans for performance or restoration purposes and to perform the performance or restoration action, including:

1. Designating a lead agency for the performance or restoration action.

2. Issuing the lead agency or entity temporary rights of entry on, under and over state trust lands for the purpose of access for the performance or restoration action. The temporary rights of entry shall be issued pursuant to applicable law.

3. Authorizing the lead agency or entity to use the proceeds of the bond, collateral or security for the performance or restoration action.