No bond issued under Sections 65-4-25 through 65-4-45 shall bear more than one (1) rate of interest; each bond shall bear interest from its date to its stated maturity date at the interest rate specified on the bonds; and all bonds of the same maturity shall bear the same rate of interest from date to maturity. All interest accruing on bonds shall be payable semiannually or annually. If bonds are issued in coupon form, no interest payment shall be evidenced by more than one (1) coupon, and neither cancelled nor supplemental coupons shall be permitted. If serial bonds, such bonds shall mature annually, and the first maturity date thereof shall not be more than five (5) years from the date of such bonds.
Structure Mississippi Code
Title 65 - Highways, Bridges and Ferries
Chapter 4 - Economic Development Highway Act
§ 65-4-9. Review and approval of application
§ 65-4-21. Payment into fund; warrant
§ 65-4-23. Conflict of interests
§ 65-4-25. Resolution to issue general obligation bonds for Economic Development Highway Fund
§ 65-4-27. Payment of principal and interest on bonds
§ 65-4-29. Terms of bonds; option to redeem; issuance and sale
§ 65-4-35. Execution of bonds and interest coupons
§ 65-4-39. Authority to request and issue warrants to pay principal and interest when due