The bonds or other obligations issued by any municipality of the State of Mississippi pursuant to this article shall not constitute a debt within the meaning of any statutory limitation as to the amount of debt which may be incurred by any such municipality, nor shall such bonds or other obligations be payable out of any funds other than the revenue collected or collectible from the use of said docks, harbors and facilities of whatsoever nature, and out of the receipts from the said two-mill ad valorem tax, in accordance with the provisions of Section 59-7-303.
Structure Mississippi Code
Title 59 - Ports, Harbors, Landings and Watercraft
Chapter 7 - County and Municipal Harbors
Article 7 - Cumulative Provisions
§ 59-7-301. Construction and effect of article
§ 59-7-303. Levy of ad valorem tax in certain counties; disposition of proceeds of tax
§ 59-7-309. Authorization of issuance of bonds by municipalities; audit and inspection of accounts
§ 59-7-313. Disposition of proceeds of bonds; penalties for diversion; guarantee of payment
§ 59-7-315. Mortgage or deed of trust securing bonds
§ 59-7-319. Exemption from taxation of bonds
§ 59-7-321. Powers of municipality with respect to issuance of bonds