All bonds of the district shall be and are hereby declared to be legal and authorized investments for public funds of counties, cities, towns, school districts, banks, savings banks, trust companies, building and loan associations, savings and loan associations, insurance companies, and for funds of the Mississippi Public Employees' Retirement System. Such bonds shall be eligible to secure the deposit of any and all public funds of cities, towns, villages, counties, school districts, or other political corporations or subdivisions of the State of Mississippi; and such bonds shall be lawful and sufficient security for said deposits to the extent of their value, when accompanied by all unmatured coupons appurtenant thereto.
Structure Mississippi Code
Title 51 - Waters, Water Resources, Water Districts, Drainage, and Flood Control
Article 5 - Urban Flood Control
§ 51-35-303. Legislative determination and declaration of policy
§ 51-35-305. General authority to organize
§ 51-35-307. Petition for creation of district
§ 51-35-309. Proceedings after petition filed
§ 51-35-313. Appeal as preference case
§ 51-35-315. Powers of district
§ 51-35-317. Board of directors
§ 51-35-319. Construction contracts
§ 51-35-321. Appropriation permit
§ 51-35-323. Board of directors to issue bonds
§ 51-35-327. Manner of holding election
§ 51-35-329. Results of election
§ 51-35-335. Validation of bonds
§ 51-35-337. Bonds as legal investments
§ 51-35-339. District and its bonds exempt from taxation
§ 51-35-340. Authorization for short-term borrowing by certain levee districts
§ 51-35-341. Preliminary expenses
§ 51-35-343. Depository for funds of district
§ 51-35-345. Agreements with the United States, the state, or political subdivisions
§ 51-35-347. Cooperation with other governmental agencies
§ 51-35-349. Urban flood and drainage control law controlling