(1) The Watershed Natural Climate Solutions Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Watershed Natural Climate Solutions Fund shall be credited to the fund. Moneys in the fund are continuously appropriated to the Oregon Watershed Enhancement Board to:
(a) Carry out the provisions of ORS 468A.189 (3); and
(b) For the administrative expenses of the board in implementing ORS 468A.189, except that no more than 10 percent of moneys may be used for administrative expenses.
(2) The Watershed Natural Climate Solutions Fund consists of moneys transferred to the fund under ORS 468A.187.