No holder or holders of any bonds issued under this article shall ever have the right to compel any exercise of the taxing power of the state or of any political subdivision thereof to pay said bonds or the interest thereon. Each bond issued under this article shall recite in substance that said bond, including the interest thereon, is payable from the revenues pledged to the payment thereof, and that said bond does not constitute a debt of the state.
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