2015 Mississippi Code
Title 57 - PLANNING, RESEARCH AND DEVELOPMENT
Chapter 7 - SALE OR DEVELOPMENT OF AIRPORT LANDS, OR OTHER LANDS, FOR INDUSTRIAL PURPOSES
§ 57-7-3 - Authorization for issuance of bonds; sale of bonds; interest rate; liability on bonds
For the purpose of providing funds to defray the expenses of improving and developing the airport properties as set forth in Section 57-7-1, the said municipality or other authority shall have the right to borrow money for the industrial improvement of its lands and property, and to issue revenue bonds therefor, payable out of any revenues derived from such property, including grants or contributions from the federal government or other sources. Such bonds may be sold at public or private sale at not less than par and shall bear interest at a rate or rates not exceeding that allowed in Section 75-17-103, Mississippi Code of 1972. Any such bonds so issued shall not constitute a debt of any municipality, the state, or any political subdivision thereof, other than the municipality or other authority.
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