2016 Mississippi Code
Title 65 - Highways, Bridges and Ferries
Chapter 39 - Gaming Counties Bond Sinking Fund
§ 65-39-5. Issuance of general obligation bonds

MS Code § 65-39-5 (2016) What's This?

(1) 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 highways and performing the projects authorized under Section 65-39-1.

(2) The amount of bonds issued under Sections 65-39-5 through 65-39-33 shall not exceed Three Hundred Twenty-five Million Dollars ($ 325,000,000.00).

(3) Upon the adoption of a resolution by the Mississippi Transportation Commission declaring the necessity for the issuance of any part or all of the general obligation bonds authorized by this section, the Transportation Commission shall deliver a certified copy of its resolution or resolutions to the State Bond Commission. Upon receipt of any such resolution, the State Bond Commission, in its discretion, may act as the issuing agent, prescribe the form of the bonds, advertise for and accept bids, issue and sell the bonds so authorized to be sold, and do any and all other things necessary and advisable in connection with the issuance and sale of such bonds.

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