(1) The funds which are transferred from the sale of bonds under this chapter and such other funds as may be transferred to the bridge construction fund may be withdrawn only in the following manner: the funds shall be paid by the State Treasurer upon warrants issued by the State Auditor of Public Accounts, which warrants shall be issued upon requisition by the Highway Commission, signed by the director.
(2) All expenditures ordered by the Highway Commission shall be entered upon its minutes, and the Highway Commission shall submit a full report of its work and all the transactions carried on by it, and a complete statement of all its expenditures at the next regular session of the legislature.