21-13-316. Interfund borrowing.
(a) The state treasurer may utilize interfund loans to the school foundation program account to ensure statutory payments are made when dedicated revenues are not yet received. Interfund loans under this subsection may be made from the legislative stabilization reserve account or, to the extent insufficient funds exist in the legislative stabilization reserve account, the common school account within the permanent land fund. Any interfund loans executed pursuant to this section shall be repaid in whole or in part periodically as soon as school foundation program account revenues permit.
(b) Repealed by Laws 1988, ch. 82, § 2.
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