The levying authority, as defined in Section 37-57-1(1)(b), acting for and on behalf of any school district, shall annually levy a special tax upon all of the taxable property within such school district, except as provided in Section 37-7-104.3(8) and (9), which shall be sufficient to provide for the payment of the principal of and the interest on school bonds issued under the provisions of this article according to the terms thereof, including any school bonds issued pursuant to Section 37-7-104.3(8) and (9).
In the case of school bonds issued under the provisions of Section 37-59-21, it shall be the duty of the board of supervisors of the county having the greater assessed valuation of taxable property within such district to annually levy upon all of the taxable property within such district, without regard to county lines, a special tax, which shall be sufficient to provide for the payment of the principal of and interest on such bonds according to the terms thereof. Such board shall annually certify to the board of supervisors of the other county or counties in which a portion of the district is situated the rate of taxation so fixed, and it shall be the duty of such other board or boards to cause such rate of taxation to be levied upon all of the taxable property within the boundaries of such district situated within their respective counties. Said taxes shall be collected and deposited as other taxes are collected and deposited in such county or counties, and the tax collector thereof shall thereupon cause such taxes to be remitted to the county depository of the county for which the bonds were issued.
Structure Mississippi Code
Chapter 59 - School Bonds and Obligations
Article 1 - Authority to Issue Bonds, Notes and Certificates of Indebtedness
§ 37-59-3. Purposes for which bonds may be issued
§ 37-59-5. General limitation of indebtedness
§ 37-59-9. Bonds and notes excluded for purposes of computing limitations of indebtedness
§ 37-59-13. Notice of election
§ 37-59-15. Conduct of election
§ 37-59-17. Determination of results of election; time period for issuance of bonds
§ 37-59-23. Levy of special tax to pay principal and interest on bonds
§ 37-59-24. Instructions to deposit tax receipts directly with trustee or paying agent
§ 37-59-25. Form of bonds; supplemental powers conferred in issuance of bonds
§ 37-59-29. Disposition of proceeds of bonds; liability for diversion of funds
§ 37-59-33. Transfer of balance of proceeds of bond issue
§ 37-59-35. Use of bond and interest funds to buy outstanding bonds
§ 37-59-37. Borrowing of money for current expenses in anticipation of school district taxes
§ 37-59-41. Borrowing of money in anticipation of taxes for benefit of agricultural high schools
§ 37-59-45. Article as sole authority for incurring of indebtedness