(1) In accordance with the legislative declaration as specified in section 24-75-304, the controller and the state treasurer shall, from time to time, during any fiscal year as fiscal procedures may require and upon the written approval of the governor, transfer from the capital construction fund to the general revenue funds such amounts of money as shall be necessary to insure prompt payment of all warrants drawn against said general revenue funds if the controller first certifies:
(a) That the general revenue funds shall have sufficient moneys accruing to them in the same fiscal year in which the transfer is made to retransfer to the capital construction fund any moneys so transferred;
(b) That appropriations from the general revenue funds do not exceed estimated general fund revenues and estimated surplus; and
(c) That the capital construction fund has, at the time of the transfer, and will have sufficient moneys accruing to it during the period prior to the anticipated retransfer to enable it to meet its own obligations.
(2) The controller and the state treasurer shall retransfer from the general revenue funds to the capital construction fund any moneys transferred under the provisions of subsection (1) of this section prior to June 30 of the fiscal year in which the transfer was made.
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