27-107-59 - Borrowing from state general and special fund agencies.
§ 27-107-59. Borrowing from state general and special fund agencies.
The Commission of Budget and Accounting with the concurrence of the state bond commission is hereby authorized to borrow the sum of five hundred thousand dollars ($500.00) from one or a multiple of "state general fund agencies" or "state special fund agencies" at one time or as required for the purpose of carrying out the provisions of Section 27-107-55. Such borrowing shall be done by appropriate resolution or order of said commission, and certified copies of each such order spread upon its minutes shall be provided the executive head of the state agency, state treasurer, state auditor, attorney general and governor. Funds disbursed by the commission from said loan fund shall be as provided herein. The commission shall have authority to adopt reasonable rules and regulations for the purposes of Sections 27-107-51 through 27-107-61.
Sources: Codes, 1942, § 9117-125; Laws, 1971, ch. 338, § 5, eff from and after passage (approved March 9, 1971).