The accomplishment of the purposes stated in this article being for the benefit of the people of this state and for the improvement of their properties and industries, the district, in carrying out the purposes of this article, will be performing an essential public function and shall not be required to pay any tax or assessment on the project and related facilities or any part thereof. The interest on the bonds issued hereunder shall at all times be free from any taxation within this state, and the state hereby covenants with the holders of any bonds to be issued hereunder that the district shall not be required to pay any taxes or assessments imposed by the state or any of its political subdivisions or taxing districts.
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