§ 65-39-25. Bonds are legal investments and legal securities
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 […]
§ 65-39-7. Payment of principal and interest; bond specifications
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 […]
§ 65-39-9. Signature on bonds; interest coupons
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 […]
§ 65-39-11. Bonds and coupons are negotiable instruments
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 […]
§ 65-39-13. Sale and form of bonds
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 […]
§ 65-39-15. Bonds are general obligations of state
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 […]
§ 65-39-17. Disposition of proceeds of sale of bonds or notes
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.” […]
§ 65-37-5. Powers and duties of State Aid Engineer
In administering the provisions of this chapter, the State Aid Engineer shall have the following powers and duties: To supervise the use of all funds made available under this chapter for local bridge replacement and rehabilitation projects on local road systems; To review and certify all projects for which funds are authorized to be made […]
§ 65-37-7. Eligibility of counties for expenditure of funds; conditions; forfeiture of funds under certain circumstances; reallocation of forfeited monies; written notice preceding forfeiture
In order for a county to be eligible for the expenditure of funds under the provisions of Sections 65-37-1 through 65-37-15, the board of supervisors of the county shall meet the following conditions: On or before January 1, 1995, and on or before January 1 of each year thereafter, the board of supervisors shall present […]
§ 65-37-9. Payment of engineering expenses
Engineering costs for any project performed under this chapter, including the salaries or fees of the engineer, may be paid from the Local Bridge Replacement Rehabilitation Fund allocations to a county; however, the maximum fee paid to an engineer from the fund shall not exceed twelve percent (12%) of the final construction cost, with the […]