Whenever the board of supervisors of any county or the board of mayor and aldermen or the proper authorities of any municipalities and/or of any taxing district or other subdivision of any county may have acquired title to any of the bonds of such county, district, or municipality by purchase with, or at the expense of, the sinking funds of the particular sinking fund collected for the purpose of paying the principal of and interest on bonds of the issue so acquired, and sufficient funds shall accumulate in such sinking fund above the amount invested in such bonds, when added to other funds to be paid into said sinking funds within the succeeding twelve (12) months, to provide for and pay the principal of and interest on the bonds of such issue maturing and falling due within the succeeding twelve (12) months, the board of supervisors of such county and of the county embracing such district, and/or board of mayor and aldermen or proper authorities of such municipality or district or subdivision may cancel such bonds so acquired, by order entered upon its minutes and its clerk making entry of cancellation of such bonds upon the proper bond register and stamping or perforating same to show cancellation thereof after cancellation of such bonds, no further taxes shall be levied or collected for the payment of the principal of or interest on the bonds so canceled.
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