(1) There is created in the State Treasury a fund designated as the Tree Seedling Revolving Fund. The State Forestry Commission shall use the fund to contract for the production or purchase of tree seedlings, for resale to Mississippi landowners for reforestation.
(2) The Tree Seedling Revolving Fund shall be funded by monies received from the sale of contract seedlings to Mississippi landowners. Monies collected from the sales shall be deposited into the Tree Seedling Revolving Fund. The State Treasurer shall make disbursements for payment of production or purchase of seedlings upon requisition by the Forestry Commission and upon the issuance of warrants by the Department of Finance and Administration.
(3) The Tree Seedling Revolving Fund is created to supplement the State Forestry Commission’s seedling production capacity and not for its replacement.
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