The bonds issued under the provisions of Sections 65-39-5 through 65-39-33 are general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi is irrevocably pledged. Monies in the Gaming Counties Sinking Bond Fund, created in Section 65-39-3, shall be expended to pay the interest on, and principal of, the bonds issued under Section 65-39-5. If the amount in the sinking fund is insufficient to pay the interest on, and principal of, such bonds as they become due, then the deficiency shall be paid by the State Treasurer from any funds in the State Treasury not otherwise appropriated. All such bonds shall contain recitals on their faces substantially covering the provisions of this section.
Structure Mississippi Code
Title 65 - Highways, Bridges and Ferries
Chapter 39 - Gaming Counties Bond Sinking Fund
§ 65-39-1. Selection of road and bridge construction projects; feasibility studies; priorities
§ 65-39-3. Gaming Counties Bond Sinking Fund created; expenditures
§ 65-39-7. Payment of principal and interest; bond specifications
§ 65-39-9. Signature on bonds; interest coupons
§ 65-39-11. Bonds and coupons are negotiable instruments
§ 65-39-13. Sale and form of bonds
§ 65-39-15. Bonds are general obligations of state
§ 65-39-21. Validation of bonds; notice
§ 65-39-23. Protection and enforcement of bond holders' rights
§ 65-39-25. Bonds are legal investments and legal securities
§ 65-39-27. Bonds and income tax exempt
§ 65-39-29. Use of bond proceeds
§ 65-39-31. Officials not to benefit from issuance of bonds
§ 65-39-33. Chapter gives complete authority; effect on other laws
§ 65-39-35. Effective date of reduction in certain taxes and fees
§ 65-39-37. State matching share for federal Special Category Projects