Any municipality in the state may establish a special fund to be known as a municipal reserve fund. Funds specifically designated by the governing authorities of a municipality for deposit in the municipality’s reserve fund shall be deposited in a separate municipal account established for this purpose. The interest earned in a municipality’s reserve fund shall be credited to the municipality’s reserve fund. Legal expenditures shall be made from the fund upon requisition of the governing authorities of a municipality, spread on the minutes and signed by the mayor of the municipality, the secretary of the mayor, or the president of the city council or board of aldermen. A municipality may deposit funds as needed into its reserve fund.
Miss. Code Ann. § 21-35-22
Municipal Reserve Fund
Known as the Municipal Budget Law
The act spans §§ 21–21 (19 sections).
Laws, 1999, ch. 352, § 1, eff from and after July 1, 1999.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.