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2013 Mississippi Code
Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS
Chapter 18 - VARIABLE RATE DEBT INSTRUMENTS
§ 31-18-13 - Initial date variable rate debt instruments


MS Code § 31-18-13 (2013) What's This?

(1) As of the initial date of each issuance of variable rate debt instruments, the total of the principal and notional amounts of such variable rate debt instruments outstanding and in effect shall not exceed an amount equal to twenty percent (20%) of the total principal amount of state-supported debt outstanding.

(2) The limitation contained in subsection (1) of this section shall not include any excluded agreements.

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