(1) The revolving fund in the amount of $400,000 established by warrant drawn on any fund belonging to the state highway funds in favor of the Director of Transportation is continued.
(2) The revolving fund shall be deposited with the State Treasurer. The fund shall be at the disposal of the director. The director may designate persons authorized to pay claims from the fund and shall specify the maximum amount of money each designee may draw from the fund. The fund may be used:
(a) To pay salaries, travel expenses, compensation or payments for real property purchased or otherwise acquired, and emergency claims; or
(b) To secure or take advantage of trade discounts and to pay for services, materials and capital outlay.
(3) All vouchers for claims paid from the fund shall be approved by the director and audited by the fiscal officer of the Department of Transportation. When claims are so approved and audited, warrants covering them shall be drawn in favor of the director and shall be used by the director to reimburse the fund. [Amended by 1957 c.9 §1; 1967 c.454 §35; 1969 c.87 §1; 1971 c.598 §6; 1973 c.249 §34; 1979 c.186 §12; 1987 c.265 §1; 1993 c.741 §37]Section: Previous 366.145 366.150 366.155 366.157 366.158 366.159 366.160 366.165 366.170 366.175 366.180 366.182 366.183 366.185 366.205 Next
Last modified: August 7, 2008