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Miss. Code Ann. § 57-119-3

Use of fund monies only for purposes specified in this chapter and upon appropriation by the Legislature; full faith and credit of state for GCRF monies obligated or pledged as security for MDA debt

Laws, 2018, 1st Ex Sess, ch. 3, § 4, eff from and after passage (approved September 5, 2018

(1) Monies in theGulf Coast Restoration Fund shall be used only for the purposes specifiedin this chapter, and no other expenditure, appropriation or transfer ofmonies in the GCRF shall be made except by an act of the Legislaturemaking specific reference to the GCRF as the source of those monies.

(2) If any moniesin the GCRF are obligated or pledged as security for any debt incurredby MDA, and the monies in the GCRF that have been obligated or pledgedare later expended, appropriated, transferred, obligated or pledgedfor any other purpose, the debt for which the monies were originallyobligated or pledged shall be the obligation and indebtedness of theState of Mississippi secured by the full faith and credit of the state.

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.