No municipality shall have the power to pay out of its general funds or otherwise contribute any part of the costs of acquiring a project, but, the entire cost of acquiring any project must be paid out of the proceeds from the sale of bonds issued under the authority of this chapter. This provision shall not be construed to prevent a municipality from accepting donation of property to be used as a part of any such project or money to be used for defraying any part of the cost of any such project.
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