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.
Structure Mississippi Code
§ 21-35-1. Citation of chapter
§ 21-35-5. Preparation and publication of annual budget; public hearing
§ 21-35-9. Contents of final budget; approval thereof
§ 21-35-11. Records of municipal funds
§ 21-35-13. Monthly report of clerk
§ 21-35-15. Expenditure of funds
§ 21-35-19. Emergency expenditures
§ 21-35-21. Emergency warrants
§ 21-35-22. Municipal Reserve Fund
§ 21-35-23. When appropriations made under budget to lapse
§ 21-35-25. Revision of municipal budget
§ 21-35-27. Expenditures for last year of term are limited