The Mississippi Transportation Commission is authorized, subject to the availability of funds in the Gaming Counties State-Assisted Infrastructure Fund created in Section 65-39-17, to conduct feasibility studies and, pursuant to information gathered in such studies, select routes and locations, perform preliminary engineering, acquire necessary right-of-way and property, construct and/or reconstruct and improve existing or new […]
All bonds and interest coupons issued under the provisions of Sections 65-39-5 through 65-39-33 have all the qualities and incidents of negotiable instruments under the provisions of the Mississippi Uniform Commercial Code, and in exercising the powers granted by Sections 65-39-5 through 65-39-33, the State Bond Commission shall not be required to and need not […]
The State Bond Commission shall act as the issuing agent for the bonds authorized under Sections 65-39-5 through 65-39-33, prescribe the form of the bonds, advertise for and accept bids, issue and sell the bonds so authorized to be sold, pay all fees and costs incurred in such issuance and sale, and do all other […]
The bonds issued under the provisions of Sections 65-39-5 through 65-39-33 are general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi is irrevocably pledged. Monies in the Gaming Counties Sinking Bond Fund, created in Section 65-39-3, shall be expended to pay the […]
The proceeds of the bonds issued under Section 65-39-5 and the proceeds of notes issued under Section 31-17-127 for the purpose of providing funds for infrastructure projects under Section 65-39-1 shall be deposited in a special fund that is created in the State Treasury to be known as the “Gaming Counties State Assisted Infrastructure Fund.” […]
The bonds authorized under Sections 65-39-5 through 65-39-33 may be issued without any other proceedings or the happening of any other conditions or things other than those proceedings, conditions and things which are specified or required by Sections 65-39-5 through 65-39-33. Any resolution providing for the issuance of bonds under the provisions of Sections 65-39-5 […]
The Mississippi Department of Transportation shall study all roads and highways (or segments thereof) within and approaching those counties in this state where legal gaming is being conducted or is authorized, in addition to those roads, highways and projects described in Section 65-39-1(2), and, based on the volume capacity of such roads or highways (or […]
The bonds authorized under the authority of Sections 65-39-5 through 65-39-33 may be validated in the Chancery Court of the First Judicial District of Hinds County, Mississippi, in the manner and with the force and effect provided by Chapter 13, Title 31, Mississippi Code of 1972, for the validation of county, municipal, school district and […]
Any holder of bonds issued under the provisions of Sections 65-39-5 through 65-39-33 or of any of the interest coupons pertaining thereto may, either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce all rights granted under Sections 65-39-5 through 65-39-33, or under such resolution, and may enforce and […]
All bonds issued under the provisions of Sections 65-39-5 through 65-39-33 shall be legal investments for trustees and other fiduciaries, and for savings banks, trust companies and insurance companies organized under the laws of the State of Mississippi, and such bonds shall be legal securities which may be deposited with and shall be received by […]
Bonds issued under the provisions of Sections 65-39-5 through 65-39-33 and income therefrom shall be exempt from all taxation in the State of Mississippi.
The proceeds of the bonds issued under the provisions of Sections 65-39-5 through 65-39-33 shall be used solely for the purposes herein provided, including the costs incident to the issuance and sale of such bonds.
There is created in the State Treasury a special fund to be designated as the “Gaming Counties Bond Sinking Fund.” Such monies as the Legislature directs or provides to be deposited into the fund may be expended, upon legislative appropriation, to pay the interest on and principal of bonds issued pursuant to Sections 65-39-5 through […]
No elected or appointed official shall derive or receive, directly or indirectly, any income, compensation or pecuniary benefit, as a result of such elected or appointed official’s duties under Sections 65-39-5 through 65-39-33 that provides for the issuance of bonds by the state, or any political subdivision thereof, contrary to the provisions of Section 109, […]
Sections 65-39-5 through 65-39-33 shall be deemed to be full and complete authority for the exercise of the powers granted, but Sections 65-39-5 through 65-39-33 shall not be deemed to repeal or to be in derogation of any existing law of this state.
The date upon which the taxes and fees levied and charged under the provisions of Sections 27-55-11, 27-57-37, 27-59-11, 27-19-43, 27-19-309, 27-65-75, and Sections 27-55-519 and 27-55-521 are reduced under such sections shall be the first day of the month immediately following the date upon which: The Mississippi Transportation Commission certifies to the State Tax […]
The Mississippi Transportation Commission may require the Mississippi Department of Transportation to provide the twenty percent (20%) state matching share and federal nonparticipating costs for Special Category Projects as provided for in Public Law 102-240 (the Intermodal Surface Transportation Efficiency Act of 1991). In addition to any other authorized use, such funds may be expended […]
The Mississippi Transportation Commission, at one time or from time to time, may declare by resolution the necessity for the issuance of general obligation bonds of the State of Mississippi to provide funds for all costs incurred or to be incurred by the Transportation Commission and the Mississippi Department of Transportation in constructing and reconstructing […]
The principal of and interest on the bonds authorized under Section 65-39-5 shall be payable in the manner provided in this section. Such bonds shall bear such date or dates, be in such denomination or denominations, bear interest at such rate or rates (not to exceed the limits set forth in Section 75-17-101), be payable […]
The bonds authorized by Section 65-39-5 of this chapter shall be signed by the Chairman of the State Bond Commission, or by his facsimile signature, and the official seal of the State Bond Commission shall be affixed thereto, attested by the Secretary of the State Bond Commission. The interest coupons, if any, to be attached […]
