The board of directors of the district is hereby authorized to provide by resolution for the issuance of refunding bonds of the district for the purpose of refunding any bonds then outstanding and issued under authority of this article, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds. The issuance of such refunding bonds, the maturity and other details thereof, and the rights, duties, and obligations of the board of directors and of the district in respect to such bonds shall be governed by the provisions of this article, insofar as they are applicable. In no event shall such bonds mature over a period of time exceeding forty years from January 1, 1961. No such refunding bonds shall be issued and delivered more than five years in advance of the date when the bonds to be refunded are redeemable, and not until such outstanding bonds shall have been called for redemption and notice thereof provided for as therein required. The proceeds of any such refunding bonds shall be deposited with the trustee named in the bonds to be refunded and, pending the application thereof to the payment and redemption of the bonds to be refunded, shall be invested and reinvested in obligations of or guaranteed by the United States of America and maturing or being redeemable at or prior to the time when the said bond proceeds are required for the redemption of the bonds to be refunded. All interest or other increment received on or on account of all such investments shall be deposited in and become a part of the fund held by the trustee for the payment and redemption of such refunding bonds.
Structure Mississippi Code
Title 51 - Waters, Water Resources, Water Districts, Drainage, and Flood Control
Article 3 - Pearl River Valley Water Supply District
§ 51-9-101. Citation of article
§ 51-9-103. Legislative determination and declaration of policy
§ 51-9-105. General authority to organize
§ 51-9-107. Board of directors
§ 51-9-109. Petition for creation of district
§ 51-9-111. Proceedings after petition filed
§ 51-9-115. Order and notice of election
§ 51-9-121. Powers of district
§ 51-9-123. Construction contracts
§ 51-9-125. Park and recreation facilities
§ 51-9-127. Rules and regulations
§ 51-9-129. Appropriation permit
§ 51-9-131. State tax used for water supply district fund
§ 51-9-133. Board of directors to issue bonds
§ 51-9-135. Details of bonds; supplemental powers conferred in issuance of bonds
§ 51-9-137. Limitation on amount of bonds
§ 51-9-139. Special tax levy for payment of bonds
§ 51-9-141. Validation of bonds
§ 51-9-147. Bonds to be legal investments
§ 51-9-151. Agreements relative to federal highways
§ 51-9-153. Cooperation with other governmental agencies
§ 51-9-155. Water supply district law controlling
§ 51-9-157. District and its bonds exempt from taxation
§ 51-9-159. Preliminary expenses
§ 51-9-161. Overflow of school lands not to constitute waste