Bill Text: MS SB3084 | 2011 | Regular Session | Enrolled
Bill Title: Appropriation; Debt service and bank service charges.
Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: (Passed) 2011-04-26 - Approved by Governor [SB3084 Detail]
Download: Mississippi-2011-SB3084-Enrolled.html
MISSISSIPPI LEGISLATURE
2011 Regular Session
To: Appropriations
By: Senator(s) Davis, Carmichael, Gordon, Butler (36th), Hyde-Smith, Lee (47th)
Senate Bill 3084
(As Sent to Governor)
AN ACT MAKING AN APPROPRIATION FOR THE PAYMENT OF SERVICE CHARGES TO BANKS FOR ACTING AS AGENTS OF THE STATE IN PAYING FULL FAITH AND CREDIT BONDS AND INTEREST OF THE STATE OF MISSISSIPPI, FROM THE EFFECTIVE DATE OF THIS ACT UNTIL SUCH BONDS SHALL BE PAID OR UNTIL JUNE 30, 2012, WHICHEVER SHALL FIRST OCCUR; AND FOR THE PAYMENT OF MATURING BONDS AND INTEREST ON THE FULL FAITH AND CREDIT BONDS OF THE STATE OF MISSISSIPPI FALLING DUE DURING FISCAL YEAR 2012.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. The following sum, or so much thereof as may be necessary, is hereby appropriated out of any money in the State General Fund not otherwise appropriated, for the purpose of paying service charges to banks for acting as agents of the State of Mississippi in paying bonds and interest on the full faith and credit bonds of the state, this appropriation to be available from the effective date of this act until such bonds shall be paid or until June 30, 2012, whichever shall first occur; and for the purpose of paying maturing bonds and interest on the full faith and credit bonds of the State of Mississippi falling due during Fiscal Year 2012.......................... $ 369,563,895.00.
SECTION 2. The following sum, or so much thereof as may be necessary, is hereby appropriated out of any money in the State Treasury which is comprised of special source funds and interest earnings on bond proceeds for the purpose of paying maturing bonds and interest on the full faith and credit bonds of the State of Mississippi falling due during Fiscal Year 2012......................................................
.......................................... $ 102,809,076.00.
SECTION 3. The several items covering maturing bonds and interest as evidenced by coupons on the bonds shall be paid out of the State Treasury as and when provided by law and according to the schedule of interest payments in the several issues of full faith and credit bonds on which principal and interest is due and payable between the dates of July 1, 2011, and June 30, 2012.
SECTION 4. It is the intention of the Legislature that the State Treasurer is hereby authorized to accept, budget and expend any excess funds which become available from interest earnings on bond proceeds or from loan repayments received pursuant to bond documents. Such funds shall be escalated in accordance with the rules and regulations of the Department of Finance and Administration in a manner consistent with the escalation of federal funds.
SECTION 5. Of the funds appropriated in Section 1 hereof, the sum of One Million One Hundred Eighteen Thousand Two Hundred Fifty-three Dollars ($1,118,253.00), or so much thereof as may be necessary, is herein appropriated for paying bank service charges. Itemized statements of banks making service charges shall be attached to requisitions of the State Treasurer.
SECTION 6. It is the intention of the Legislature that the agency shall compile cell phone usage records of any cellular phone (wireless communication device) that is assigned, issued or made available to any officer or employee in accordance with Section 25-53-191, Mississippi Code of 1972, and these records shall be made publicly available at the expense of the agency.
SECTION 7. It is legislative intent to ensure beneficial information reaches as many Mississippians as possible. Further, it is legislative intent that the expenditure of public funds for this purpose be accomplished in an efficient and effective manner.
Therefore, state agencies as standard procedure will observe the following criteria:
(a) Develop goals and desired result for a campaign.
(b) Evaluate effectiveness through respected advertising standards, including market reach and cost-effectiveness.
(c) Seek public service announcements, which would be aired by media without cost.
(d) Itemize and justify professional assistance and related expenses for creative and production costs outside of the actual media expenditures.
(e) Utilize Mississippi-owned media companies when feasible.
SECTION 8. Of the funds provided within this act, no former employee who is receiving State of Mississippi retirement benefits shall be hired under contract for an amount exceeding Twenty Thousand Dollars ($20,000.00) a year without prior approval by an agency's proper governing board or authority. Upon approval of such contracts a written report shall be submitted detailing the cost and need of contract services to the Chairmen and members of the Senate and House Appropriations Committees.
SECTION 9. The money herein appropriated shall be paid by the State Treasurer out of any money in the State Treasury to the credit of the proper fund or funds as set forth in this act, upon warrants issued by the State Fiscal Officer; and the State Fiscal Officer shall issue his warrants upon requisitions signed by the proper person, officer or officers in the manner provided by law.
SECTION 10. This act shall take effect and be in force from and after July 1, 2011.
