When any governing board of a political subdivision of the state or the governing board of a municipality must physically close a bridge or bridges under its jurisdiction in order for the state, a political subdivision of the state and/or a municipality of the state to receive or continue to receive federal transportation funding, the Mississippi Department of Transportation shall direct by written notice such governing board to physically close the bridge or bridges within sixty (60) days of the receipt of such notice. The governing board shall retain jurisdiction of such bridge or bridges and is responsible for all costs associated with the closed bridge or bridges, including closure and maintenance costs. Any such bridge or bridges shall remain closed until the bridge is able to be reopened in a condition that does not reduce the amount that the state, a political subdivision of the state and/or a municipality of the state shall receive or continue to receive in federal transportation funding. Any political subdivision of the state or municipality of the state whose governing board fails to comply with the directive provided under this section shall not be eligible for funding provided under Section 27-67-35 and shall remain ineligible until the governing board is in compliance with such directive.