There is created a special account within the transportation fund known as the town highway revolving fund for the purpose of charging the expense for work performed for towns by the agency. All receipts from towns for performance of these services shall be credited to this account. The commissioner of finance and management may incur overdrafts, not to exceed $250,000.00 in total, in this account in anticipation of amounts due from towns. However, the commissioner may waive the limitation on overdrafts to the extent that a town's reimbursement to the state is contingent on the town's receipt of emergency relief funds from federal sources. (Added 1991, No. 35, § 6, eff. May 18, 1991; 1991, No. 120 (Adj. Sess.), § 1, eff. Feb. 21, 1992; 1999, No. 18, § 17, eff. May 13, 1999.)