Said bonds bearing the signature of officers in office on the date of the signing thereof shall be valid and binding obligations notwithstanding that before the delivery thereof and payment therefor any or all the persons whose signatures appear thereon shall have ceased to be officers. The validity of said bonds shall not be dependent on nor be affected by the validity or regularity of any proceedings relating to the acquisition or improvement of the system or systems for which said bonds are issued. The resolution or resolutions authorizing said bonds may provide that the bonds shall contain a recital that they are issued pursuant to this article, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.
Structure Mississippi Code
Title 77 - Public Utilities and Carriers
Article 1 - Mississippi Rural Electrification Authority
§ 77-5-5. Mississippi Rural Electrification Authority created
§ 77-5-7. Board of directors of authority
§ 77-5-9. Number, appointment, removal and terms of board of directors
§ 77-5-11. Organization of board; officers
§ 77-5-13. Compensation of members of board
§ 77-5-15. Members of board shall not hold full time state office
§ 77-5-19. Corporate purpose of the authority
§ 77-5-21. General grant of powers to authority
§ 77-5-23. Grant of specific powers to authority
§ 77-5-25. Operations outside of state authorized
§ 77-5-27. Issuance of bonds by authority
§ 77-5-31. Bonds of authority not debts of state
§ 77-5-33. Rates, fees and charges; application thereof
§ 77-5-35. Pledge of state to bondholders that it will not impair rate-making power of authority
§ 77-5-39. Rights and remedies of bondholders
§ 77-5-41. Moneys of the authority
§ 77-5-43. Assets of authority shall pass to state upon cessation of authority's existence