§ 37-145-73. Guarantee reserve funds
In addition to any other funds it may establish, the board of trustees may, by resolution, establish one or more special funds pursuant to this section, referred to herein as “guarantee reserve funds,” and may pay into such reserve funds: Any moneys appropriated and made available by the state for the purposes of such guarantee […]
§ 37-145-59. Funds and accounts to carry out provisions relating to student loan revenue bonds
The company may create and establish such funds and accounts as may be necessary or desirable for its purposes pursuant to Sections 37-145-43 through 37-145-73.
§ 37-145-61. Issuer authorized to contract with bondholders; trusts and security for payment of bonds
The company shall have the power to contract with the holders of any of its bonds as to the custody, collection, securing, investment and payment of any money of the company, and of any money held in trust or otherwise for the payment of bonds, and to carry out such contract. Money held in trust […]
§ 37-145-63. Subsequent amendments not to limit vested rights of bondholders
Subsequent amendments to Sections 37-145-43 through 37-145-73 shall not limit the rights vested in the company with respect to any agreements made with, or remedies available to, the holders of bonds issued under Sections 37-145-43 through 37-145-73 prior to the enactment of the amendments until the bonds, together with all interest thereon, and all costs […]
§ 37-145-65. Payment of expenses of company issuing bonds; no state or public liability or indebtedness
All expenses incurred by the company in carrying out the provisions of this chapter shall be payable from funds in the Mississippi Opportunity Loan Fund, and nothing in Sections 37-145-43 through 37-145-73 shall be construed to authorize the company to incur indebtedness or liability on behalf of or payable by the state or any other […]
§ 37-145-67. Public function; student loan revenue bond income tax exempt
The company is hereby declared to be performing a public function and to be a public body corporate and a political subdivision of the state. Accordingly, the income, including any profit made on the sale thereof from all bonds issued by the company pursuant to Sections 37-145-43 through 37-145-73, shall at all times be exempt […]
§ 37-145-69. Student loan revenue bonds legal investments and securities
The bonds issued by and under the authority of Sections 37-145-43 through 37-145-73 by the company are declared to be legal investments in which all public officers or public bodies of the state, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations, and other persons carrying on insurance business, all banks, […]
§ 37-145-71. Borrowing funds to support guaranty student loan function; limit on obligation; debt solely that of board of trustees
The board of trustees is authorized to borrow funds from public or private sources under such provisions pertaining to rates of interest, repayment schedules, collateral and other requirements as may be approved by the board of trustees for the support of the guaranty student loan function of the board. The obligations so incurred by the […]
§ 37-145-41. Attorney for State Bond Commission; expenses of Commission for general obligation bond issuance
The State Bond Commission shall select an attorney or attorneys to represent the State Bond Commission in issuing, selling and validating bonds provided for in Sections 37-145-23 through 37-145-41, and the bond commission is hereby authorized and empowered to expend from the proceeds derived from the sale of the bonds authorized hereunder all necessary administrative, […]
§ 37-145-43. Authority to issue student loan revenue bonds; purpose of bonds
The company, in addition to any other powers and duties, shall have the power to issue student loan revenue bonds as hereinafter provided in Sections 37-145-43 through 37-145-73 in order to provide funds for deposit into the Mississippi Opportunity Loan Fund and to provide funds to the board of trustees to use in support of […]