§ 9-1-418 — Legislative stabilization reserve account loans; maximum amount; repayment

The state auditor is authorized to borrow from the legislative
stabilization reserve account an amount not to exceed one
hundred million dollars ($100,000,000.00) at any one (1) time to
meet the obligations of the department of transportation which
come due prior to the receipt of revenues. The amounts borrowed
under this section shall be repaid as soon as the anticipated
revenue is received. Interest on the unpaid balance shall be
equal to the rate of return earned on the legislative
stabilization reserve account in the previous fiscal year. These
loans shall not be used to fund shortages caused by expenditures
exceeding projected revenues but are to be used only to fund
temporary shortages caused by meeting obligations which come due
prior to receipt of revenues.