Public Finance

State Funds

SECTION 35-4-11

§ 35-4-11. Intermodal surface transportation fund.

State funds, whether appropriations or bond funds, allotted for department of transportation purposes, upon initiation by the budget officer and approved by the director of administration, may be transferred to a special fund called the intermodal surface transportation fund and shall be expended for the specific purposes for which they were made available. All sums received from the federal government for expenditure by the state for highway purposes shall be turned over to the general treasurer and placed in the fund for the specific purpose designated by the United States government. The fund shall be administered by the director of transportation, subject to the same state laws and fiscal procedures as the general funds of the state; and the state controller is hereby authorized and directed to draw his or her orders upon the general treasurer for the payment out of the fund of such sums as may be required, from time to time, upon receipt by him or her of duly authenticated vouchers.

History of Section.
(P.L. 1968, ch. 263, art. 4, § 1; P.L. 1982, ch. 312, § 1; P.L. 1988, ch. 129, art. 9, § 2; P.L. 1993, ch. 138, art. 30, § 2; P.L. 1995, ch. 370, art. 7, § 2.)