Be it enacted by the Legislature of the State of Yap.
Section 1
The sum of $231,239, or so much thereof as may be necessary, is hereby appropriated from the Infrastructure Maintenance Fund (IMF) of the State of Yap for the purpose of providing funding to fund Paved Road Maintenance project during Fiscal Year 2025.
Section 2
Conditions and Restrictions.
(1) The sum appropriated by this Act shall not be advanced to the agency. Memorandum of agreement (MOA) or other forms of agreement the purpose of which is to obligate and disburse to the agency any amounts from the sum appropriated herein, including reimbursements for payments is prohibited.
(2) All funds appropriated by this Act shall be maintained under the authority of the Director of the Office of Administrative Services.
Section 3
Allotment and Management of Funds, and Lapse Date.
The sums appropriated by this Act shall be allotted to the Governor who shall be responsible for ensuring these funds are used only for the purposes specified under Section 1 of this Act. The sums appropriated by this Act shall be administered in accordance with the provisions of applicable law, including, but not limited to, the State Financial Management Act of 1983 and the State Contracts Act. The authority to obligate the funds appropriated by this Act shall lapse as of September 30, 2025, and any part of this appropriation not obligated as of September 30, 2025 shall revert to the respective Fund of the State of Yap.
Section 4
Reports.
The Governor shall submit to the Legislature the performance and financial quarterly reports for each quarter in each fiscal year no later than twenty days after the end of each quarter. Each quarterly report shall include, but not limited to, complete descriptions of the obligations incurred against the funds appropriated by this Act, and the status of the funds as of the end of the completed quarter.
Section 5
This Act shall take effect upon its approval by the Governor, or upon its becoming law
without such approval.