(1) The following highway is designated as a state highway and placed under the jurisdiction of the Mississippi Transportation Commission; and such highway, together with the highways designated in Section 65-3-3, and all other laws adding links to the designated state highway system, are declared to be the state highway system of Mississippi:
That portion of Old Highway 463 from Mississippi Highway 16 northerly to Mississippi Highway 397.
(2) The Mississippi Transportation Commission shall take over and assume responsibility for construction and maintenance of the segment of highway described under subsection (1) of this section whenever the commission certifies that such segment of highway has been brought up to commission standards and all utilities, signs, structures and other encroachments on such highway and right-of-way, are removed or relocated.
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