Before issuing any bonds hereunder the governing body, as hereinbefore defined, of any municipality, as hereinbefore defined, shall adopt a resolution declaring its intention so to do stating the amount of bonds proposed to be issued, the purpose for which the bonds are to be issued, and the date upon which the governing body proposes to direct the issuance of such bonds. Such resolution shall be published once a week for at least three (3) consecutive weeks in at least one (1) newspaper published in the county in which such municipality is located. The first publication of such resolution shall be made not less than twenty-one (21) days prior to the date fixed in such resolution for the issuance of the bonds and the last publication shall be made not more than seven (7) days prior to such date. If no newspaper be published in such county, then such notice shall be given by publishing the resolution for the required time in some newspaper having a general circulation in such county, and, in addition, by posting a copy of such resolution for at least twenty-one (21) days next preceding the date fixed therein at three (3) public places in such county. If twenty per centum (20%) of the qualified electors of the municipality shall file a written protest against the issuance of such bonds on or before the date specified in such resolution, then an election on the question of the issuance of such bonds shall be called and held as herein provided. If no such protest be filed, then such bonds may be issued without an election on the question of the issuance thereof, at any time within a period of two (2) years after the date specified in the above-mentioned resolution. However, the governing body of such municipality, in its discretion, may nevertheless call an election on such question, in which event it shall not be necessary to publish the resolution declaring its intention to issue bonds as herein provided.
Structure Mississippi Code
Title 57 - Planning, Research and Development
Chapter 3 - Agriculture and Industry Program
§ 57-3-1. Statement of legislative policy
§ 57-3-3. Legislative intent; requirement of certificate
§ 57-3-7. Construction of chapter
§ 57-3-9. Additional powers conferred on municipalities
§ 57-3-11. Requirement of bond issue election
§ 57-3-15. Conduct of election; form of ballot
§ 57-3-17. Determination of results of election; time period for issuance of bonds
§ 57-3-21. Security for payment of bonds
§ 57-3-23. Requirements respecting lease of projects
§ 57-3-27. Use of proceeds from sale of bonds
§ 57-3-29. Contribution by municipalities to projects; acceptance of donations by municipalities
§ 57-3-31. Investment in bonds
§ 57-3-33. Exemption from taxation of bonds, etc.; time limit for ad valorem tax exemption