The proceeds of any bonds issued by a county shall be placed in the county treasury or depository, if there be one, as a special fund, and shall be used for no other purpose than that for which such bonds were authorized to be issued. If the board of supervisors of such county, or any member thereof, or any other officer, shall wilfully divert or aid or assist in diverting any such fund, or any part thereof, to any purpose other than that for which such bonds were authorized to be issued, then such person shall be guilty of a felony and, upon conviction, shall be punished by imprisonment in the state penitentiary for a term not exceeding five years and, in addition, he shall be liable personally and on his official bond for the amount so diverted. Any member of such board of supervisors may escape the penalty provided for above by requesting and having his vote recorded in the negative on any illegal diversion of the proceeds of such bonds.
Structure Mississippi Code
Title 19 - Counties and County Officers
Chapter 9 - Finance and Taxation
Uniform System for Issuance of County Bonds
§ 19-9-1. Purpose of bonds enumerated
§ 19-9-3. Bonds of roads or supervisors districts
§ 19-9-3. Bonds of roads or supervisors districts
§ 19-9-5. Limitation of indebtedness
§ 19-9-7. Details of county bonds; supplemental powers conferred in issuance of bonds
§ 19-9-11. Notice of intention to issue bonds; calling of election
§ 19-9-15. Holding of election
§ 19-9-17. Results of election
§ 19-9-19. Maturities, interest, and signatures
§ 19-9-21. Proceeds shall not be diverted
§ 19-9-23. Transfer of residue of bond proceeds
§ 19-9-25. Bond and interest funds may be used to buy outstanding bonds
§ 19-9-27. Borrowing in anticipation of taxes