The intent of the Legislature is for the structuring of maturity schedules and escrow accounts which will allow the greatest amount of revenues to be used for current construction of highways, while retaining a sound program of retiring the refunding bonds in an economically feasible manner. It is the further intent that all funds available under any of the provisions of Chapter 478, Laws of 1978, shall be invested at all times when not needed to pay the expenses authorized under the provisions of Chapter 478, Laws of 1978, and to pay the principal of and the interest on any bonds payable under the provisions of Chapter 478, Laws of 1978, as they become due.
Miss. Code Ann. § 31-17-75
Legislative intent regarding highway funding
Laws, 1978, ch. 476, § 6, eff from and after passage (approved April 6, 1978
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.