The total amount of refunding bonds to be issued under this chapter shall be an amount sufficient to effect the refunding and may include an amount sufficient to pay (a) the principal amount of the refunded bonds, (b) interest accrued or to accrue to the date of maturity or the date of redemption of the bonds to be refunded (which need not necessarily be on the first available redemption date), (c) any redemption premiums to be paid thereon, (d) any reasonable expenses incurred in connection with such refunding, and (e) any other reasonable costs deemed appropriate by the governing body of the governmental unit, including, without limitation, the expenses of preparing and delivering the refunding bonds, legal fees, financial advisor fees, consultant fees, and other expenses incurred in connection with the issuance, sale and delivery of the refunding bonds.
Refunding bonds issued under this chapter shall result in an overall net present value savings to maturity of not less than two percent (2%) of the bonds being refunded.
Structure Mississippi Code
Title 31 - Public Business, Bonds and Obligations
Chapter 27 - Mississippi Bond Refinancing Act
§ 31-27-5. Legislative intent; construction
§ 31-27-7. Issuance of refunding bonds
§ 31-27-9. Escrow account; banking corporation as trustee for bondholders
§ 31-27-11. Security for refunding bonds
§ 31-27-13. Amount of refunding bonds authorized to be issued
§ 31-27-15. Sale of refunding bonds and disposition of proceeds
§ 31-27-17. Refinancing of outstanding bonds by issuance of refunding bonds
§ 31-27-19. Negotiability of refunding bonds