MISSISSIPPI LEGISLATURE

2000 Regular Session

To: Transportation

By: Representative Compretta

AN ACT TO AMEND SECTIONS 65-1-111 AND 65-1-115, MISSISSIPPI CODE OF 1972, TO DELETE THE REQUIREMENT THAT ALL REQUISITIONS ISSUED AND ALL EXPENDITURES MADE BY THE DEPARTMENT OF TRANSPORTATION OR THE MISSISSIPPI TRANSPORTATION COMMISSION MUST BE APPROVED BY THE COMMISSION AND ENTERED ON ITS MINUTES; TO DELETE CERTAIN PROVISIONS THAT PRESCRIBE THE PROCEDURE FOR THE EXPENDITURE OF FUNDS AND THE PAYMENT OF CLAIMS OF THE COMMISSION AND THE DEPARTMENT; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 65-1-111, Mississippi Code of 1972, is amended as follows:

65-1-111. All monies from any source provided by law shall be covered and paid into the State Treasury as other public funds are paid, and it shall be the duty of the Department of Finance and Administration to advise the Mississippi Transportation Commission of the amount of money allotted to the commission on hand from time to time. It shall be the duty of the Department of Finance and Administration to place and allocate said funds so covered into the State Treasury in the State Highway Fund. The interest earned on the investment of any highway funds shall be paid into the State Highway Fund. In the event any highway bonds or notes are issued, the Transportation Commission will adopt a resolution requesting the Bond Commission to issue such bonds or notes as may be authorized and a "bond and interest sinking fund" and "note fund" shall likewise be kept separate from the highway fund by the State Treasurer pursuant to the bond resolution adopted by the State of Mississippi Bond Commission. * * *

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SECTION 2. Section 65-1-115, Mississippi Code of 1972, is amended as follows:

65-1-115. The Department of Finance and Administration, in cooperation with the commission or its comptroller, shall formulate and prescribe a uniform system of accounting for all monies expended by the Mississippi Transportation Commission. The commission shall have prepared and issued all necessary forms, rules, and regulations for the installation and operation of said system of accounting, and it shall be the duty of the Transportation Commission, acting through its Executive Director, in allowing any account to request, by requisition the Department of Finance and Administration, that a warrant be issued therefor. * * * The commission shall provide proper books covering requisitions to be drawn from the state highway fund. In the event any highway bonds or notes are issued, additional books covering a "bond and interest sinking fund" and "note fund" shall likewise be provided. * * *

SECTION 3. This act shall take effect and be in force from and after its passage.