Mississippi Code
Chapter 7 - Bridge and Park Commissions
§ 55-7-43. Pledge of income, revenues and grants for payment of bonds; contents of bond issue resolution

Whenever bonds are issued by the bridge and park commission under this chapter, an amount of the income, revenues or grants from all sources received by the commission, after the deduction of the necessary expenses of operating and maintaining the facilities and properties of said commission, shall be pledged in an amount sufficient for the purpose of the payment of the principal of and interest on said bonds as the same shall mature and accrue. The resolution authorizing such bonds shall contain such covenants as may be deemed necessary or advisable for the assurance of payment of the bonds thereby authorized and may contain such restrictions upon the issuance of additional bonds by the commission as may be deemed advisable. Such resolution may direct the depository in which funds of the commission are held to remit to the paying agent designated for such bonds specified periodic remittances without further direction or authorization by the commission and may provide for the establishment of funds for operation and maintenance, for depreciation, for the payment of principal and interest and for contingencies, and may provide for the setting aside of amounts over and above those necessary for current debt service so as to provide and produce a reserved fund to meet any possible deficiency in future years.

Structure Mississippi Code

Mississippi Code

Title 55 - Parks and Recreation

Chapter 7 - Bridge and Park Commissions

§ 55-7-1. Purpose of chapter

§ 55-7-3. General grant of authority to certain municipalities and counties

§ 55-7-5. Creation of commission; composition; qualifications, appointment, terms of office, oath, and bond of members

§ 55-7-7. Organization; vacancies; commissioners not to be pecuniarily interested in activities of commission; meetings

§ 55-7-9. Compensation of members of commission

§ 55-7-11. General powers of commission

§ 55-7-13. Acquisition of lands by commission; authorization

§ 55-7-15. Acquisition of lands by commission; confirmation of title to submerged lands

§ 55-7-17. Construction, operation, etc., of bridges, ferries, causeways, and tunnels by commission

§ 55-7-19. Improvement, etc., of lands acquired by commission

§ 55-7-23. Power to fix and collect rates, fees, charges and tolls for use of services and facilities

§ 55-7-25. Employment of personnel by commission

§ 55-7-27. Dredging, etc., of channels

§ 55-7-29. Acceptance of federal aid and assistance

§ 55-7-31. Disposition of revenues of commission

§ 55-7-33. Issuance of bonds by commission generally

§ 55-7-35. Imposition of tax levy for payment of bonds

§ 55-7-37. Division of ad valorem taxes on commission's property

§ 55-7-39. Details of bonds; execution and sale of bonds

§ 55-7-41. Security for payment of bonds generally

§ 55-7-43. Pledge of income, revenues and grants for payment of bonds; contents of bond issue resolution

§ 55-7-45. Pledge of or payments from revenue derived through Section 65-33-45

§ 55-7-47. Validation of bonds

§ 55-7-49. Rates, fees, charges, and tolls for services or use of facilities

§ 55-7-51. Enforcement of rights of bondholders

§ 55-7-53. Incorporation of islands into municipality

§ 55-7-55. Cooperation with other state entities

§ 55-7-57. Construction of chapter; authority and powers conferred

§ 55-7-59. Construction of chapter; cumulative and supplemental; repeal or impairment of other laws