75-5-1122. Creation of debt. The legislature, through the enactment of this law by a two-thirds vote of the members of each house, authorizes the creation of state debt in an amount not to exceed $40 million in principal amount of general obligation bonds outstanding from time to time for the purpose of:
(1) providing the state's share of the program; and
(2) funding portions of loans on an interim basis pending receipt of:
(a) grant payments from the environmental protection agency for which federal legislation appropriating the proceeds of the grants has been enacted; or
(b) other revenue for the program.
History: En. Sec. 13, Ch. 678, L. 1989; amd. Sec. 1, Ch. 73, L. 1999; amd. Sec. 1, Ch. 18, L. 2003; amd. Sec. 2, Ch. 323, L. 2005.
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