The bonds issued under the provisions of Sections 57-1-307 through 57-1-335 are general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi is irrevocably pledged. If the funds appropriated by the Legislature are insufficient to pay the principal of and the interest on such bonds as they become due, then the deficiency shall be paid by the State Treasurer from any funds in the State Treasury not otherwise appropriated. All such bonds shall contain recitals on their faces substantially covering the provisions of this section.
Structure Mississippi Code
Title 57 - Planning, Research and Development
Chapter 1 - Mississippi Development Authority
Local Governments Capital Improvements Revolving Loan Program
§ 57-1-305. General powers and duties of department
§ 57-1-309. Bonds; payment of principal and interest; details
§ 57-1-313. Bonds; negotiability
§ 57-1-315. Bonds; issuance and sale; redemption
§ 57-1-317. Bonds; general obligations of state
§ 57-1-319. Bonds; disposition of proceeds of sale
§ 57-1-321. Bonds; conditions for issuance
§ 57-1-325. Bonds; protection and enforcement of rights of holders
§ 57-1-327. Bonds; legal investments and legal securities
§ 57-1-329. Bonds; exemption from taxation
§ 57-1-331. Bonds; use of proceeds
§ 57-1-333. Bonds; issuance of warrants for payment
§ 57-1-335. Construction of Sections 57-1-307 through 57-1-335