Revenue bonds issued under the provisions of this chapter shall not be deemed to constitute a debt of the State of Mississippi or a pledge of the faith and credit of the state, but such bonds shall be payable solely from the sinking fund provided therefor, as hereinafter established in Section 37-104-31. The issuance of such revenue bonds shall not directly, indirectly or contingently obligate the state to levy or pledge any form of taxation whatever therefor, and all such revenue bonds shall contain recitals on their face substantially covering the foregoing provisions of this section.
Structure Mississippi Code
§ 37-104-3. Legislative determination; declaration of purpose
§ 37-104-7. Creation of Authority; nature and administration
§ 37-104-9. General powers of Authority
§ 37-104-11. Payment of expenses; liability
§ 37-104-13. Declaration of need by private institution
§ 37-104-15. Investigation by Authority
§ 37-104-17. Issuance of revenue bonds
§ 37-104-19. Bond loan agreement
§ 37-104-21. Negotiability of bonds and coupons; tax exemption
§ 37-104-25. Disposition of sale proceeds; issuance of additional revenue bonds
§ 37-104-27. Proceedings and conditions for issuance of bonds; validation
§ 37-104-29. Liability of state on bonds
§ 37-104-31. Allocation of payments by private institutions; sinking fund
§ 37-104-33. Rights of bond and coupon holders
§ 37-104-35. Issuance of refunding bonds
§ 37-104-37. Bonds as legal investments and securities
§ 37-104-39. Acceptance of grants, loans, aid, or contributions
§ 37-104-41. Monies received deemed trust funds
§ 37-104-43. Withdrawals from Educational Facilities Authority Fund