Upon the issuance and sale of bonds under the provisions of Sections 57-44-11 through 57-44-39, the State Bond Commission shall transfer the proceeds of any such sale or sales to the special fund created in Section 57-44-7. The proceeds of such bonds shall be disbursed solely upon the order of the Department of Economic and Community Development under such restrictions, if any, as may be contained in the resolution providing for the issuance of the bonds.
Structure Mississippi Code
Title 57 - Planning, Research and Development
Chapter 44 - Local Governments Freight Rail Service Projects
§ 57-44-1. Legislative findings and declaration of purpose
§ 57-44-5. Establishment of local governments freight rail service revolving loan program
§ 57-44-9. General powers and duties of Department of Economic and Community Development
§ 57-44-13. Interest rates, maturity, and form of bonds
§ 57-44-15. Execution of bonds and interest coupons
§ 57-44-21. Payment of principal and interest on bonds
§ 57-44-23. Disposition of proceeds from sale of bonds
§ 57-44-27. Validation of bonds
§ 57-44-29. Enforcement of rights of holders of bonds or coupons
§ 57-44-31. Bonds deemed legal investments and securities
§ 57-44-33. Exemption from taxation of bonds