The Commission of Budget and Accounting is hereby made the sole administrator of the appropriation enacted during the regular session of 1975 to implement the provisions of Sections 27-107-111 through 27-107-125. It is authorized to utilize any of its general powers provided by Chapter 496, Laws of 1962, as amended, appearing as Sections 27-103-1 through 27-103-71, in making findings of fact and determinations as to the extent and degree of the damages, destruction or loss to the public properties and the dollar value thereof described in the preceding section. It shall take into consideration the appropriate economic factors, present and potential losses in city, county and state taxes, and revenues of all types, existing and subsequent federal laws, funds and programs, and other relevant facts and fiscal data in determining the amount of state grants and loans and reasonable conditions of the grants and loans made to the governing authorities of eligible counties and municipalities and the boards of trustees of public schools and junior colleges which have suffered publicly owned property loss and economic losses as a direct result of the excessive rain or floods of the spring of 1975.
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