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Revenue Stabilization Law  

Title 19 | Chapter 5 | Subchapter 10

SUBCHAPTER 10 - MISCELLANEOUS FUNDS

19-5-1002. Motor Vehicle Acquisition Revolving Fund.

(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Motor Vehicle Acquisition Revolving Fund". (b) This fund shall be used for the purpose of acquiring motor vehicles as authorized by §§ 22-8-201 - 22-8-209.

(c) The fund shall be financed by:

(1) Its proportionate share of moneys made available from the allocation of general revenues as authorized by the Revenue Stabilization Law, § 19-5-101 et seq.;

(2) Moneys made available upon the disposal of used vehicles, which moneys shall be deposited to the credit of the Motor Vehicle Acquisition Revolving Fund rather than being deposited to the owing state agency's fund;

(3) Deposits of moneys from benefiting state agencies; and

(4) Transfers from other Treasury funds and fund accounts of benefiting state agencies.

History. Acts 1973, No. 750, § 7; 1985, No. 888, § 9; A.S.A. 1947, § 13-523.

R1-19-5-1002 Motor Vehicle Acquisition

The Director of the Department of Finance and Administration (DFA Director) designated the Department of Finance and Administration-Office of Information Services (DFA-OIS) as his agent authorized to purchase new and used vehicles for all state agencies, boards, commissions, departments and institutions of higher education. Such purchases shall be made from the Motor Vehicle Acquisition Revolving Fund (MMV Fund) which was established for the purpose of acquiring motor vehicles of the State. The amounts deposited into this fund include a portion of state general revenues as authorized by the Revenue Stabilization Law, amounts received upon the disposal of used vehicles and deposits or transfers from benefiting agencies. (ACA §19-5-1002, ACA §22-8-206 (a-c), ACA §22-8-207)

PLEASE NOTE: See additional information regarding vehicles in R1-19-4-1503 Property Management and R1-19-11-243 Marketing and Redistribution.