The board may enter into an agreement with the federal government for federal contributions to the subaccount if all of the following conditions have been met:
- (a) The board has identified any required matching funds.
- (b) The board is prepared to commit to the expenditure of any minimum amount in the subaccount in the manner required by the Clean Water Act.
- (c) Any agreement between the board and the federal government is consistent with the purposes of this article.