When the results of the election on the question of the issuance of such bonds shall have been canvassed by the election commissioners of such municipality and certified by them to the governing authorities of such municipality, it shall be the duty of such governing authorities to determine and adjudicate whether or not three-fifths of the qualified electors who voted in such election voted in favor of the issuance of such bonds. Unless three-fifths of the qualified electors who voted in such election shall have voted in favor of the issuance of such bonds, then such bonds shall not be issued. Should three-fifths of the qualified electors who vote in such election vote in favor of the issuance of such bonds, then the governing authorities of the municipality may issue such bonds, either in whole or in part, within two years from the date of such election or within two years after the final favorable termination of any litigation affecting the issuance of such bonds, as such governing authorities shall deem best.
Structure Mississippi Code
Chapter 33 - Taxation and Finance
§ 21-33-301. Uniform system for issuance of municipal bonds; purposes for which bonds may be issued
§ 21-33-303. Limitation of indebtedness
§ 21-33-305. Revenues of public utilities may be pledged for payment of bonds
§ 21-33-307. Initiating procedures for issuance of bonds
§ 21-33-309. Holding of bond election
§ 21-33-311. Results of election
§ 21-33-313. Details of municipal bonds; supplemental powers conferred in issuance of bonds
§ 21-33-315. Maturities and interest
§ 21-33-317. Proceeds of bonds not to be diverted
§ 21-33-319. Transfer of residue of bond proceeds
§ 21-33-321. Bond and interest fund may be used to buy outstanding bonds
§ 21-33-325. Borrowing in anticipation of taxes