§ 57-3-9. Additional powers conferred on municipalities
In addition to any other powers which it may now have, each municipality shall have the following powers: (a) to acquire, whether by construction, purchase, gift or lease, one or more projects, which shall be located within the State of Mississippi and may be located within or without the municipality, or partially within or partially […]
§ 57-3-11. Requirement of bond issue election
Before issuing any bonds hereunder the governing body, as hereinbefore defined, of any municipality, as hereinbefore defined, shall adopt a resolution declaring its intention so to do stating the amount of bonds proposed to be issued, the purpose for which the bonds are to be issued, and the date upon which the governing body proposes […]
§ 57-3-13. Notice of election
Where an election is to be called as provided in Section 57-3-11, notice of such election shall be signed by the clerk of the governing body of any municipality, and shall be published once a week for at least three (3) consecutive weeks, in at least one (1) newspaper published in such county. The first […]
§ 57-3-15. Conduct of election; form of ballot
The election provided for in Section 57-3-11 shall be held, as far as is practicable, in the same manner as other elections are held in municipalities. At such election, all qualified electors of such municipality may vote, and the ballots used at such election shall have printed thereon a brief statement of the amount and […]
§ 57-3-17. Determination of results of election; time period for issuance of bonds
When the results of the election on the question of the issuance of such bonds as hereinabove provided for shall have been canvassed by the election commissioners of such municipality and certified by them to the governing body of such municipality, it shall be the duty of such governing body to determine and adjudicate whether […]
§ 57-3-19. Nature of bonds; payment of principal and interest; applicability of debt limitation; terms, conditions, execution, delivery, etc., of bonds; disposition of proceeds from sale of bonds
All bonds issued by a municipality under authority of this chapter shall be limited obligations of the municipality, the principal of and interest on which shall be payable solely out of the revenue derived from the leasing of the project to finance which bonds are issued. Bonds and interest coupons issued under authority of this […]
§ 57-3-21. Security for payment of bonds
The principal of, redemption premium, if any, and interest on any bonds issued under the authority of this chapter shall be secured by a pledge of the revenues derived from the lease or sale of the project, may be secured by a mortgage covering all or any part of the project or any additional property […]
§ 57-3-23. Requirements respecting lease of projects
Prior to the leasing of any project, the governing body must determine and find the following: the amount necessary in each year to pay the principal of and the interest on the bonds proposed to be issued to finance such project; the amount necessary to be paid each year into any reserve funds, which amounts […]
§ 57-3-25. Refunding bonds
Any bonds issued hereunder and at any time outstanding may at any time and from time to time be refunded by a municipality by the issuance of its refunding bonds in such amount as the governing body may deem necessary but not exceeding an amount sufficient to refund the principal of the bonds so to […]
§ 57-3-27. Use of proceeds from sale of bonds
The proceeds from the sale of any bonds issued under authority of this chapter shall be applied only for the purpose for which the bonds were issued. However, any accrued interest and premium received in any such sale shall be applied to the payment of the principal of or the interest on the bonds sold; […]