The road commissioners of a separate road district, by and with the consent of the board of supervisors evidenced by ordinance duly passed, may borrow money in a sum or sums not greater in the aggregate than two percent (2%) of the assessed valuation of the real and personal property within such district. Such loans shall be evidenced by the loan warrant or warrants of such district, signed by the road commissioners thereof and countersigned by the president of the board of supervisors, to bear not more than six percent (6%) interest per annum, and to run not more than five years from the issuance thereof. Provision shall be made at the time of making said loans for the payment thereof at maturity out of the roads funds for said district.
Structure Mississippi Code
Title 65 - Highways, Bridges and Ferries
Chapter 19 - Separate Road Districts
§ 65-19-3. Publication of notice
§ 65-19-5. Amount of bonds to be preliminarily estimated
§ 65-19-7. Hearing of objections
§ 65-19-9. Extension of road beyond the limits of district
§ 65-19-11. Consolidations and additions
§ 65-19-13. District may be abolished
§ 65-19-15. Previous obligations
§ 65-19-17. Aggrieved parties may appeal
§ 65-19-21. Supervisors to provide for election
§ 65-19-23. Result of election
§ 65-19-25. General provisions for bonds
§ 65-19-27. District road commissioners
§ 65-19-29. Duties of commissioners
§ 65-19-33. Special tax levied
§ 65-19-35. Separate assessment of district
§ 65-19-39. Disbursement of road fund
§ 65-19-41. Payment of contractors
§ 65-19-43. Acceptance and final settlement
§ 65-19-45. Final settlement with engineer
§ 65-19-47. Surplus funds loaned
§ 65-19-51. General supervision
§ 65-19-53. Roads and bridges constructed and maintained
§ 65-19-55. Commissioners may turn over completed roads to county
§ 65-19-57. Transfer of roads not to affect obligations of district
§ 65-19-59. Public roads worked in separate districts
§ 65-19-61. Board of supervisors; powers and control
§ 65-19-63. Emergency repair of roads and bridges
§ 65-19-65. Roads connecting districts
§ 65-19-67. Supervisors to build all bridges and culverts
§ 65-19-69. Supervisors may acquire rights of way
§ 65-19-71. Road superintendent
§ 65-19-73. Duties of road superintendent
§ 65-19-75. Reports to be filed
§ 65-19-77. Purchases by road superintendent
§ 65-19-79. Provisions of general road laws to govern
§ 65-19-81. Public highways extending into municipalities
§ 65-19-83. Benefit district roads