No bonds issued by the company under this article shall constitute a debt, liability or general obligation of the state or any political subdivision thereof (other than the company), or a pledge of the faith and credit of the state or any political subdivision thereof (other than the company), but shall be payable solely as provided by the company. No member or officer of the board of directors of the company nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof. Each bond issued under this article shall contain on the face thereof a statement that neither the state, nor any other political subdivision thereof, shall be obligated to pay the same or the interest thereon or other costs incident thereto except from the revenue or money pledged by the company and that neither the faith and credit nor the taxing power of the state or any political subdivision thereof is pledged to the payment of the principal of, or the interest on, such bond.
Structure Mississippi Code
Title 57 - Planning, Research and Development
Chapter 10 - Small Business Assistance
Article 7 - Mississippi Small Business Financing Act
§ 57-10-203. Legislative findings and declarations
§ 57-10-207. General powers of board of directors
§ 57-10-209. Issuance and refunding of bonds; methods for financing projects
§ 57-10-211. Participation with lenders in making or purchasing loans
§ 57-10-213. Issuance of bonds to finance projects of eligible businesses
§ 57-10-215. Insurance or guaranty fund
§ 57-10-217. Security for bonds or instruments
§ 57-10-219. Premiums and fees for financial assistance
§ 57-10-221. Applicability of debt limitation or restriction
§ 57-10-223. Procedure for public hearings and approval
§ 57-10-227. Investment in, purchase and assignment of loans made by lenders
§ 57-10-229. Promulgation of regulations relating to §§ 57-10-225 and 57-10-227
§ 57-10-231. Payment of bonds; additional security
§ 57-10-237. Miscellaneous provisions of resolution authorizing issuance of bonds
§ 57-10-239. Effect of pledge; recording of resolution or other instruments
§ 57-10-241. Cancellation and redemption of bonds
§ 57-10-245. Signatures on bonds
§ 57-10-247. Establishment of funds and accounts
§ 57-10-249. Contracts with bondholders
§ 57-10-251. Effect of future amendments to article
§ 57-10-257. Investment in bonds; bonds as security for deposits