All state school bonds issued under the provisions of this chapter shall be sold by the said state bond commission upon sealed competitive bids or proposals after advertisement therefor and publication of the notice of such sale in the manner provided by law.
The proceeds of the sale of all state school bonds shall be placed in the "state public school building fund" and shall be expended only for the purposes authorized by this chapter. However, the premium, if any, received for any such bonds and the accrued interest paid thereon, if any, shall be placed in the sinking fund established for the payment of said bonds.
Structure Mississippi Code
Chapter 47 - State Aid for Construction of School Facilities
§ 37-47-1. Administration of chapter
§ 37-47-3. "School district" defined
§ 37-47-5. "Capital improvement" defined
§ 37-47-7. State public school building fund created
§ 37-47-9. Annual grants by state
§ 37-47-11. Order of priority of disposition of funds
§ 37-47-13. Certificates of credit
§ 37-47-15. Approval of use of grants; surveys and plans
§ 37-47-17. Applications for expenditures
§ 37-47-19. Withdrawal of funds from public school building fund upon approval of expenditures
§ 37-47-21. Disposition of funds credited to school district which fails to apply for expenditure
§ 37-47-23. Effect of insufficient funds in public school building fund
§ 37-47-25. Loans for capital improvements
§ 37-47-27. Requirement of contracts for capital improvements
§ 37-47-29. Awarding of contracts for capital improvements
§ 37-47-31. Continuation and functions of state bond commission
§ 37-47-35. Request for issuance of bonds
§ 37-47-37. Prerequisites to issuance of bonds
§ 37-47-39. Full faith and credit of state pledged to pay bonds
§ 37-47-41. Execution of bonds; form, terms and conditions; redemption
§ 37-47-43. Printing of bonds; denominations; interest
§ 37-47-47. Sale of bonds; disposition of proceeds of sale
§ 37-47-49. Interim certificates; supplemental powers conferred in issuance of bonds
§ 37-47-51. Negotiability of bonds and interim certificates
§ 37-47-53. Exemption from taxation of bonds and interim certificates
§ 37-47-55. Duties of state treasurer
§ 37-47-57. Payment of expenses of bond commission
§ 37-47-59. Validation of bond issues
§ 37-47-63. Construction of chapter; contract between bondholders and state
§ 37-47-65. Construction of chapter; power of school districts to raise funds