All bonds of the authority shall be and are hereby declared to be legal and authorized investments for public funds of counties, cities, towns, school districts, banks, savings banks, trust companies, building and loan associations, savings and loan associations, and insurance companies, and for funds of the Mississippi Public Employees' Retirement System. Such bonds shall be eligible to secure the deposit of any and all public funds of cities, towns, villages, counties, school districts, or other political corporations or subdivisions of the State of Mississippi; and such bonds shall be lawful and sufficient security for said deposits to the extent of their value when accompanied by all unmatured coupons appurtenant thereto.
Structure Mississippi Code
Title 29 - Public Lands, Buildings and Property
Chapter 3 - Sixteenth Section and Lieu Lands
Sixteenth Section Development Authorities
§ 29-3-151. Declaration of purpose
§ 29-3-157. Selection of trustees of authority; vacancies; qualifications; compensation
§ 29-3-159. General powers of authority
§ 29-3-161. Issuance of bonds authorized
§ 29-3-163. Payments on bonds when net revenues are insufficient
§ 29-3-167. Issuance of bonds to defray expenses of authority
§ 29-3-169. General terms and conditions as to bonds
§ 29-3-171. Validation of bonds
§ 29-3-173. Cooperation with other governmental agencies
§ 29-3-174. Immunity from tort actions except for wilful or gross negligence
§ 29-3-175. Exemptions from state taxation
§ 29-3-177. Bonds as legal investments and as security for deposits of public funds
§ 29-3-179. Construction contracts
§ 29-3-181. Deposit of authority's funds
§ 29-3-183. Bond proceeds may be utilized to pay preliminary expenses