65-43-11 - Special bond sinking fund.
§ 65-43-11. Special bond sinking fund.
For the purpose of providing for the payment of the principal of and interest upon bonds issued under the provisions of Sections 65-43-9 through 65-43-39, there is created a special bond sinking fund in the State Treasury. The special bond sinking fund shall consist of the monies required to be deposited into the fund under Section 65-43-3 and such other amounts as the Legislature may direct to be paid into the fund by appropriation or other authorization by the Legislature. Unexpended amounts remaining in the special bond sinking fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the special bond sinking fund shall be deposited into such sinking fund.
Sources: Laws, 2007, ch. 582, § 6, eff July 18, 2007 (the date the United States Attorney General interposed no objection under Section 5 of the Voting Rights Act of 1965, to the addition of this section.)