No bond issued under Sections 69-2-19 through 69-2-39 of this chapter 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, except the first interest coupon attached to any bond may be for any period not exceeding one (1) year. 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 69 - Agriculture, Horticulture, and Animals
Chapter 2 - Mississippi Farm Reform Act
§ 69-2-11. Emerging crop designations
§ 69-2-21. Full faith, credit, and taxing power of state pledged to payment of bonds
§ 69-2-23. Execution, delivery, conversion, redemption, and sale of general obligation bonds
§ 69-2-25. Interest and interest rates on bonds
§ 69-2-27. Notice of bond sales
§ 69-2-29. Execution procedures for bonds and coupons
§ 69-2-31. Transfer and disbursement of proceeds of sale of bonds and notes
§ 69-2-35. Bonds and notes as legal investments for banks and other entities
§ 69-2-37. Tax treatment of bonds and notes, and income therefrom
§ 69-2-39. Empowering clause; exemption from limitations generally imposed on state obligations