Until such funds are needed for the payment of outstanding full faith and credit bonds of the state as herein provided, the state bond retirement commission is hereby authorized to invest any funds held in the state bond retirement revolving fund in bonds, notes, certificates, and other interest bearing obligations which are a direct obligation of the United States of America, hereinafter referred to as federal securities.
Any federal securities so purchased shall be the property of the State of Mississippi, and the principal and any and all interest accruing on such federal securities shall be collected by the commission as an agency of the state and covered into the state bond retirement revolving fund as the same shall mature and accrue. The commission is hereby authorized to sell any federal securities belonging to the state bond retirement revolving fund whenever, in the judgment of the commission, such sale will be to the best interest of the state. Sales shall be made at the best price obtainable, and all funds realized therefrom shall be covered into the state bond retirement revolving fund.
Structure Mississippi Code
Title 31 - Public Business, Bonds and Obligations
Chapter 17 - State Bonds; Retirement of Bonds
§ 31-17-21. State bonds; notice of intention to purchase
§ 31-17-23. State bonds; best bid accepted
§ 31-17-25. State bonds; purchase of bonds sold below par
§ 31-17-27. State bonds; state bond retirement revolving fund
§ 31-17-31. State bonds; deposit of federal securities
§ 31-17-33. State bonds; method of retirement by state bond retirement commission
§ 31-17-35. State bonds; maturity dates to be noted
§ 31-17-39. State bonds; expenditures from and transfer of state bond retirement revolving fund
§ 31-17-41. State bonds; records and reports of state bond retirement commission
§ 31-17-43. State bonds; expenses of state bond retirement commission
§ 31-17-45. Local bonds; repurchase authorized
§ 31-17-47. Local bonds; notice of intention to purchase
§ 31-17-49. Local bonds; purchase of bonds sold below par
§ 31-17-51. Local bonds; restrictions on purchases
§ 31-17-53. Local bonds; pledge of securities, properties, and taxes
§ 31-17-55. Local bonds; cancellation
§ 31-17-57. State and local bonds; paying agent to repay unused funds
§ 31-17-59. State and local bonds; demand for repayment
§ 31-17-61. State bonds; destruction of paid and cancelled bonds and coupons