The State Bond Commission shall sell such bonds on sealed bids at public sale, and for such price as it may determine to be for the best interest of the State of Mississippi, but no such sale shall be made at a price less than par plus accrued interest to date of delivery of the bonds to the purchaser. All bonds shall bear interest at such rate or rates not exceeding seven percent (7%) per annum. All interest accruing on such bonds so issued shall be payable semiannually or annually.
No interest payment due on any bond shall be evidenced by more than one (1) coupon and supplemental coupons will not be permitted; the difference between the highest rate of interest specified for any bond issue shall not exceed the lowest rate of interest specified for the same bond issue by more than one and one-fourth percent (1-1/4 %).
Each interest rate specified in any bid must be in a multiple of one-eighth of one percent (1/8 of 1%) or one-tenth of one percent (1/10 of 1%) and a zero rate of interest cannot be named.
Notice of the sale of any such bonds shall be published at least one (1) time, the first of which shall be made not less than ten (10) days prior to the date of sale, and shall be so published in one or more newspapers having a general circulation in the City of Jackson and in one or more other newspapers or financial journals with a large national circulation, to be selected by the State Bond Commission.
The State Bond Commission, when issuing any bonds under the authority of Sections 55-23-21 through 55-23-43, shall provide that bonds maturing eleven (11) or more years after the date of the issuance of such bonds may, at the option of the State of Mississippi, be called in for payment and redemption in reverse numerical order at the call price named therein and accrued interest, or on the tenth anniversary of the date of issue, or on any interest payment date thereafter prior to maturity.
Structure Mississippi Code
Title 55 - Parks and Recreation
Chapter 23 - Mississippi Veterans Memorial Stadium
§ 55-23-1. Legislative findings and declaration of intent
§ 55-23-3. Short title of Sections 55-23-3 through 55-23-11
§ 55-23-7. Construction, renovation, repair and reconstruction of facilities and property of stadium
§ 55-23-11. Promulgation of rules and regulations governing use of lands and facilities
§ 55-23-13. Maintenance of stadium driveways
§ 55-23-15. Use of state-owned lands for public parking facilities
§ 55-23-19. Maintenance of parking facilities; exemption from fees
§ 55-23-21. Enlargement and renovation of stadium generally; public parking facilities
§ 55-23-23. Contribution by Hinds County to enlargement and renovation of stadium
§ 55-23-27. Negotiability of bonds; exemption from taxation
§ 55-23-29. Sale of bonds; interest on bonds; redemption of bonds
§ 55-23-31. Security for payment of bonds
§ 55-23-37. Issuance of warrants for payment of bonds
§ 55-23-39. Proceedings for issuance of bonds; validation of bonds
§ 55-23-41. Mississippi Memorial Stadium Construction Fund; use of Hinds County funds
§ 55-23-47. Provisions governing repair, remodeling and enlargement of stadium
§ 55-23-49. Funding of repair, remodeling and enlargement of stadium
§ 55-23-51. Designation of athletic field as "A.C. (Butch) Lambert Field."