The funds which are transferred from the sale of revenue bonds to the special fund in the State Treasury known as the Educational Facilities Authority Fund may be withdrawn only in the following manner: Said funds shall be paid by the State Treasurer upon warrants issued by the State Auditor of Public Accounts, which warrants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 Authority, signed by the Governor. All expenditures ordered by the Authority shall be evidenced by complete records maintained by the Authority of said expenditures, and the Authority 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.
Structure Mississippi Code
§ 37-104-3. Legislative determination; declaration of purpose
§ 37-104-7. Creation of Authority; nature and administration
§ 37-104-9. General powers of Authority
§ 37-104-11. Payment of expenses; liability
§ 37-104-13. Declaration of need by private institution
§ 37-104-15. Investigation by Authority
§ 37-104-17. Issuance of revenue bonds
§ 37-104-19. Bond loan agreement
§ 37-104-21. Negotiability of bonds and coupons; tax exemption
§ 37-104-25. Disposition of sale proceeds; issuance of additional revenue bonds
§ 37-104-27. Proceedings and conditions for issuance of bonds; validation
§ 37-104-29. Liability of state on bonds
§ 37-104-31. Allocation of payments by private institutions; sinking fund
§ 37-104-33. Rights of bond and coupon holders
§ 37-104-35. Issuance of refunding bonds
§ 37-104-37. Bonds as legal investments and securities
§ 37-104-39. Acceptance of grants, loans, aid, or contributions
§ 37-104-41. Monies received deemed trust funds
§ 37-104-43. Withdrawals from Educational Facilities Authority Fund