Mississippi Code 1972 (2023)
Title 27 - TAXATION AND FINANCE (§§ 27-1-1 — 27-117-15)
Chapter 103 - STATE BUDGET (§§ 27-103-1 — 27-103-303)
BUDGET REFORM ACT OF 1992 (§§ 27-103-201 — 27-103-213)
Section 27-103-204 - State Treasurer authorized to borrow funds from Working Cash-Stabilization Reserve Fund and other funds to offset temporary cash flow deficiencies in the Budget Contingency Fund; limited aggregate amount authorized; notice of transfers
The State Treasurer is authorized and directed to borrow funds from the Working Cash-Stabilization Reserve Fund created in Section 27-103-203 or from special funds in the State Treasury, or both, to offset any temporary cash flow deficiencies in the Budget Contingency Fund created in Section 27-103-301 regarding Budget Contingency Fund monies generated underLaws, 2002, ch. 539. The amount borrowed from the Working Cash-Stabilization Reserve Fund or from special funds in the State Treasury, or both, shall not exceed One Hundred Nineteen Million Two Hundred Thousand Dollars ($119,200,000.00) in the aggregate. The State Treasurer shall reimburse, from Budget Contingency Fund monies generated underLaws, 2002, ch. 539, the Working Cash-Stabilization Reserve Fund or special funds in the State Treasury, or both, for all sums borrowed for such temporary cash flow deficiency purposes. The State Treasurer shall immediately notify the Legislative Budget Office and the State Department of Finance and Administration of each transfer into and out of such funds.
Laws, 2002, ch. 539, § 5, eff. 7/1/2002.