reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 57 - TAXATION (§§ 37-57-1 — 37-57-133) › TAX ON FAMILY DWELLING UNITS (§§ 37-57-111 — 37-57-119) › Section 37-57-117 - Collection and utilization of funds

All funds derived from such taxation under Sections
37-57-111
through
37-57-119
shall be collected by the tax assessors and/or tax collectors of the county prior to or simultaneous with the sale of the new family unit and shall be deposited into a county trust fund entitled "county school building and repair fund" to be utilized by the county board of education for capital improvements only in compacted areas. However, the board of supervisors of such county shall be authorized to utilize the proceeds of taxation toward paying the principal and interest on full faith and credit bonds of the county which may be issued to provide immediate funds for acquiring sites and constructing public school facilities.
All funds levied and collected under authority of Sections
37-57-111
through
37-57-119
shall be expended for the purposes set forth in said sections and in the manner now provided by law for making such expenditures in counties having a countywide school district.
Codes, 1942, § 6520-04; Laws, 1972, ch. 504, § 4, eff. 5/19/1972.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 57 - TAXATION (§§ 37-57-1 — 37-57-133) › TAX ON FAMILY DWELLING UNITS (§§ 37-57-111 — 37-57-119) › Section 37-57-119 - Enforcement

The board of supervisors of any county which imposes the tax authorized by Sections
37-57-111
through 37-57-119 may adopt rules and regulations governing the time and method of payment of the taxes, and may provide by rule or regulation for the withholding of any final or other inspection of the property otherwise required by local building or zoning ordinance until such tax is paid or satisfactory security given for such payment, and may provide for the payment of interest and penalties up to fifty percent (50%) for late payment.
Codes, 1942, § 6520-05; Laws, 1972, ch. 504, § 5, eff. 5/19/1972.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 57 - TAXATION (§§ 37-57-1 — 37-57-133) › MISCELLANEOUS (§§ 37-57-121 — 37-57-133) › Section 37-57-121 - [Repealed]

Repealed by Laws, 1984, ch. 379, § 2, eff. 4/18/1984.
Codes, 1942, § 6518-08; Laws, 1954, ch. 261, § 8; 1956, ch. 296, § 15.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 57 - TAXATION (§§ 37-57-1 — 37-57-133) › MISCELLANEOUS (§§ 37-57-121 — 37-57-133) › Section 37-57-123 - [Repealed]

Repealed by Laws, 1986, ch. 492, § 165, eff. 7/1/1987.
Codes, 1942, § 6518-09; Laws, 1954, ch. 261, § 9; 1956, ch. 296, § 16; 1983, ch. 471, § 25.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 57 - TAXATION (§§ 37-57-1 — 37-57-133) › MISCELLANEOUS (§§ 37-57-121 — 37-57-133) › Section 37-57-125 - and 37-57-127 - [Repealed]

Repealed by Laws, 1986, ch. 492, § 189, eff. 7/1/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 57 - TAXATION (§§ 37-57-1 — 37-57-133) › MISCELLANEOUS (§§ 37-57-121 — 37-57-133) › Section 37-57-129 - [Repealed]

Repealed by Laws, 1983, ch. 471, § 28, eff. 7/1/1983.
Codes, 1942, § 6518-13; Laws, 1954, ch. 261, § 13; 1962, ch. 360, § 2.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 57 - TAXATION (§§ 37-57-1 — 37-57-133) › MISCELLANEOUS (§§ 37-57-121 — 37-57-133) › Section 37-57-131 - Real property incorporated in school district prior to June 1 of fiscal year liable for taxes levied during year

All taxable real property which has been or shall be incorporated in, annexed to or otherwise made a part of any school district, and any taxable personal property which is located or situated in any school district prior to June 1 of any fiscal year, shall be liable for all ad valorem taxes levied or imposed for such school district during such year to the same extent and in like manner as though such real property had been incorporated in, annexed to or otherwise made a part of such school district prior to January 1 of such year, and in like manner as though such personal property had been located or situated within such school district prior to January 1 of such year; such property shall be relieved from liability for taxes levied during such year for the support and maintenance of the school district of which it was formerly a part, and such personal property shall be relieved from liability for taxes levied during such year for the support and maintenance of the school district within which it was formerly located or situated. Nothing herein shall be construed to relieve such real or personal property from assessment and liability for the payment of the outstanding bonds or other indebtedness of the district of which such property was formerly a part, or of the district in which such personal property was situated or located as the case may be, and such question shall be governed and controlled by other statutes applicable thereto, including, but not being limited to, Section
37-7-109
.
Codes, 1942, § 6519-01; Laws, 1954, Ex Sess, ch. 30, § 1; Laws, 1956, ch. 270, § 1; Laws, 1964, ch. 404; Laws, 1986, ch. 492, § 166, eff. 7/1/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 57 - TAXATION (§§ 37-57-1 — 37-57-133) › MISCELLANEOUS (§§ 37-57-121 — 37-57-133) › Section 37-57-133 - Changes in assessment roll to incorporate property

In the event taxable real property has been or is incorporated in, annexed to, or otherwise made a part of a school district, or in the event taxable personal property is or becomes situated or located within a school district, as the case may be, prior to October 1 of any year but after the approval of the assessment roll of the county or school district for such year, then the board of supervisors of the county or the governing authority of the municipality, as the case may be, shall have the power and authority to make such changes in the assessment roll as shall be necessary to cause such real or personal property to be assessed properly for the ad valorem taxes levied during said year for which such property shall be liable under the terms of Section
37-57-131
.
Codes, 1942, § 6519-02; Laws, 1954, Ex Sess, ch. 30, § 2; Laws, 1956, ch. 270, § 2; Laws, 1986, ch. 492, § 167, eff. 7/1/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-1 - "Bonds" defined

The word "bonds" as used in this article shall be deemed to mean and include bonds, notes, or certificates of indebtedness.
Codes, 1942, § 6532-01; Laws, 1950, ch. 231, § 1; Laws, 1955, Ex Sess, ch. 61.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-3 - Purposes for which bonds may be issued

The school board of any school district is authorized to issue negotiable bonds of such school district to raise money for the following purposes:
(a)
Purchasing, erecting, repairing, equipping, remodeling and enlarging school buildings and related facilities, including gymnasiums, auditoriums, lunch rooms, vocational training buildings, libraries, teachers' homes, school barns, transportation vehicles and garages for transportation vehicles, and purchasing land therefor.
(b)
Establishing and equipping school athletic fields and necessary facilities connected therewith, and purchasing land therefor.
(c)
Providing necessary water, light, heating, air conditioning and sewerage facilities for school buildings, and purchasing land therefor.
(d)
Paying part of the costs to be incurred in erecting, repairing, equipping, remodeling and enlarging school buildings and related facilities which are owned and operated by state-supported institutions of higher education as a demonstration or practice school attended by pupils, grades, or one or more, or parts of grades from the educable children of such school district pursuant to a contract or agreement between said institution and said school district.
The authority to issue the bonds hereinabove set forth shall include the authority for the school board of such school district to spend the money for the purposes for which said money is raised.
Codes, 1942, § 6532-01; Laws, 1950, ch. 231, § 1; Laws, 1955, Ex Sess, ch. 61; Laws, 1986, ch. 492, § 168; Laws, 1987, ch. 307, § 24, eff. 3/3/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-5 - General limitation of indebtedness

No school district shall, except as provided in Section
37-59-7
, hereafter issue bonds for the purposes authorized by law in an amount which, added to all of its then outstanding bonded indebtedness, shall result in the imposition on any of the property in such district of an indebtedness for school purposes of more than fifteen per cent of the assessed value of the taxable property within such district, according to the then last completed assessment for taxation, regardless of whether any of such indebtedness shall have been incurred by such district or by another school district or districts.
Codes, 1942, § 6532-02; Laws, 1950, ch. 231, § 2; Laws, 1955, Ex Sess, chs. 52, 60; Laws, 1962, ch. 361; Laws, 1968, ch. 403, § 1, eff. 7/26/1968.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-9 - Bonds and notes excluded for purposes of computing limitations of indebtedness

No bonds or negotiable notes issued by any school district in order to comply with the provisions of Section
37-47-15
, shall be included in computing the debt limits established in Sections
37-59-5
,
37-59-7
.
Codes, 1942, § 6532-02; Laws, 1950, ch. 231, § 2; Laws, 1955, Ex Sess, chs. 52, 60; Laws, 1962, ch. 361; Laws, 1968, ch. 403, § 1, eff. 7/26/1968.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-11 - Adoption of bond issue resolution; requirement of election on issuance of bonds

(1)
Before any money shall be borrowed under the provisions of this chapter, the school board of the school district shall adopt a resolution declaring the necessity for borrowing such money, declaring its intention to borrow such money and to issue the negotiable bonds of the school district as evidence of same, specifying the approximate amount to be so borrowed, and how such indebtedness is to be evidenced. Such resolution shall also set forth the nature and approximate cost of the alterations, additions and repairs to be made, and shall declare in said resolution that no funds are available in the school funds of the district or from any other source with which to make such repairs, alterations, additions, purchases, erections or improvements.
(2)
Whenever a resolution is adopted by the school board as provided in subsection (1), or a petition signed by not less than ten percent (10%) of the qualified electors of a school district, fixing the maximum amount of such school bonds and the purpose or purposes for which they are to be issued, the school board shall adopt a resolution calling an election to be held within such school district for the purpose of submitting to the qualified electors thereof the question of the issuance of bonds in the amount and for the purpose or purposes as set forth in such resolution or petition. The resolution calling such election shall designate the date upon which the election shall be held and the place or places within such district at which such election shall be held, which place or places may or may not be the school house or school houses in such district.
(3)
Provided, however, anything herein to the contrary notwithstanding, no election shall be required for approval of bonds issued after July 1, 1987, and prior to July 1, 1988, or within one (1) year after the final favorable termination of any litigation affecting the issuance of such bonds, and as to which the resolution of necessity and intent to issue by the school board of the school district is passed and publication thereof commenced on or before June 30, 1987, unless a petition calling for such election is filed meeting the requirements and within the time provided by this Section 37-59-11 as in effect between April 15, 1986, and June 30, 1987.
Codes, 1942, § 6532-04; Laws, 1950, ch. 231, § 4; Laws, 1986, ch. 492, § 170; Laws, 1987, ch. 307, § 26, eff. 7/1/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-13 - Notice of election

Where an election has been called, as provided in Section
37-59-11
, notice of such election shall be signed by the president of the school board and shall be published once a week for at least three (3) consecutive weeks, in at least one (1) newspaper published in such school district. The first publication of such notice shall be made not less than twenty-one (21) days prior to the date fixed for such election, and the last publication shall be made not more than seven (7) days prior to such date. If no newspaper is published in such school district, then such notice shall be given by publishing the same for the required time in some newspaper having a general circulation in such school district.
Codes, 1942, § 6532-05; Laws, 1950, ch. 231, § 5; Laws, 1986, ch. 492, § 171; brought forward, Laws, 1987, ch. 307, § 27, eff. 3/3/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-15 - Conduct of election

Such election shall be held upon order of the school board, as far as is practicable, in the same manner as other elections are held in such county or municipality. At such election, all qualified electors of such school district may vote. The ballots used at such election shall have printed thereon a brief statement of the amount and the purpose of the proposed bond issue, and the words "FOR THE BOND ISSUE," and "AGAINST THE BOND ISSUE." The voter shall vote by placing a cross (X) or check mark (Tick) opposite his choice on the proposition.
Codes, 1942, § 6532-06; Laws, 1950, ch. 231, § 6; Laws, 1986, ch. 492, § 172; brought forward, Laws, 1987, ch. 307, § 28, eff. 3/3/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-17 - Determination of results of election; time period for issuance of bonds

When the results of the election on the question of the issuance of such bonds shall have been canvassed by the election commissioners of such county or municipality, and certified by them to the school board of the school district, it shall be the duty of such school board to determine and adjudicate whether or not three-fifths (3/5) of the qualified electors who voted in such election voted in favor of the issuance of such bonds. Unless three-fifths (3/5) of the qualified electors who voted in such election shall have voted in favor of the issuance of such bonds, then such bonds shall not be issued. Should three-fifths (3/5) of the qualified electors who vote in such election vote in favor of the issuance of such bonds, then the school board of such school district shall issue such bonds, either in whole or in part, within two (2) years from the date of such election, or within two (2) years after the final favorable termination of any litigation affecting the issuance of such bonds, as such school board shall deem best.
Codes, 1942, § 6532-07; Laws, 1950, ch. 231, § 7; Laws, 1986, ch. 492, § 173; brought forward, Laws, 1987, ch. 307, § 29, eff. 3/3/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-19 - Procedure for issuance of bonds upon petition of majority of qualified electors of school district generally

When a petition signed by a majority of the qualified electors residing within the school district on behalf of which bonds are to be issued, fixing the maximum amount of such bonds, such maximum amount not to exceed Ten Thousand Dollars ($10,000.00), and the purpose or purposes for which they are to be issued, shall be filed with the school board of the school district, praying for the issuance of bonds for any of the purposes enumerated in Section
37-59-3
, the school board shall issue the bonds of such school district in the manner provided in this article, in the amount and for the purpose or purposes set forth in such petition, without the necessity of calling an election upon the question of whether or not such bonds shall be issued. The finding of the school board as to the sufficiency of any such petition shall be final and conclusive, unless such finding be appealed from in the manner provided by law.
Codes, 1942, § 6532-08; Laws, 1950, ch. 231, § 8; Laws, 1954, ch. 257, § 1; Laws, 1986, ch. 492, § 174; Laws, 1987, ch. 307, § 30, eff. 3/3/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-21 - Procedure for issuance of bonds upon petition where district lies in two or more counties

If the territory of such school district as is provided for in section
37-59-19
, lies in two or more counties, bonds may be issued as provided herein by the board of supervisors of the county having the greatest assessed valuation of taxable property within such district, upon petition of a majority of the qualified electors residing within the district as a whole. In such cases, a counterpart of the petition shall be separately circulated in that part of the district situated within each of the counties involved, and the said petitions shall be filed with the respective boards of supervisors. Each such board shall thereupon determine, by resolution entered upon its minutes, the number of qualified electors of such county residing within such district, and the number of qualified electors of such district who have signed such petition, and shall transmit a certified copy of such resolution and of such petition to the board of supervisors of the county having the greater assessed valuation of taxable property within such district. The latter board shall thereupon determine, by resolution entered upon its minutes, the total number of qualified electors residing within such district as a whole, and the total number of qualified electors of such district who have signed such petitions. If the latter board thereupon finds and determines that such petitions have been signed by a majority of all of the qualified electors residing within such district, regardless of county lines, such board may proceed to issue bonds in the amount and for the purpose or purposes set forth in such petition.
The maximum amount of such bonds which may be issued by petition shall not exceed the sum of ten thousand dollars ($10,000.00), and the total amount of bonds so issued by petition in any twelve-month period shall not exceed the sum of ten thousand dollars ($10,000.00).
Codes, 1942, § 6532-08; Laws, 1950, ch. 231, § 8; Laws, 1954, ch. 257, § 1.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-23 - Levy of special tax to pay principal and interest on bonds

The levying authority, as defined in Section
37-57-1(1)(b)
, acting for and on behalf of any school district, shall annually levy a special tax upon all of the taxable property within such school district, except as provided in Section
37-7-104.3(8) and (9)
, which shall be sufficient to provide for the payment of the principal of and the interest on school bonds issued under the provisions of this article according to the terms thereof, including any school bonds issued pursuant to Section
37-7-104.3(8) and (9)
.
In the case of school bonds issued under the provisions of Section
37-59-21
, it shall be the duty of the board of supervisors of the county having the greater assessed valuation of taxable property within such district to annually levy upon all of the taxable property within such district, without regard to county lines, a special tax, which shall be sufficient to provide for the payment of the principal of and interest on such bonds according to the terms thereof. Such board shall annually certify to the board of supervisors of the other county or counties in which a portion of the district is situated the rate of taxation so fixed, and it shall be the duty of such other board or boards to cause such rate of taxation to be levied upon all of the taxable property within the boundaries of such district situated within their respective counties. Said taxes shall be collected and deposited as other taxes are collected and deposited in such county or counties, and the tax collector thereof shall thereupon cause such taxes to be remitted to the county depository of the county for which the bonds were issued.
Codes, 1942, §§ 6532-03, 6532-08; Laws, 1950, ch. 231, §§ 3, 8; Laws, 1954, ch. 257, § 1; Laws, 1971, ch. 341, § 1; Laws, 1986, ch. 492, § 175; brought forward, Laws, 1987, ch. 307, § 31, 1988, ch. 301, § 1, eff. 2/5/1988.
Amended by Laws, 2014, ch. 537, SB 2818, 4, eff. 4/24/2014.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-24 - Instructions to deposit tax receipts directly with trustee or paying agent

Notwithstanding any other provision of law, any school district having outstanding school debt which is repaid at least in part from local ad valorem tax receipts may, for the remaining term of such debt, irrevocably instruct the appropriate local tax collector/assessor in writing to deposit a portion of the monthly ad valorem tax collections for district purposes directly with any state or federally chartered bank serving as trustee or paying agent on such district debt. The district's instructions to the tax collector/assessor shall specify the amount of tax receipts to be so deposited with the trustee or paying agent and shall be binding on the district and local tax collector/assessor during the term of such debt.
Laws, 1996, ch. 534, § 8, eff. 7/1/1996.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-25 - Form of bonds; supplemental powers conferred in issuance of bonds

(a)
All bonds issued under the provisions of this article shall be lithographed or engraved, and printed in two (2) or more colors, to prevent counterfeiting. Provided, however, where the bonds are sold to less than ten (10) purchasers at closing and the purchasers consent, a temporary bond or bonds may be issued in typewritten form pending preparation of the lithographed or engraved bonds for which the temporary bond or bonds may be subsequently exchanged. Such bonds shall be registered as issued, be numbered in a regular series from one (1) upward, and every such bond shall specify on its face the purpose for which it was issued and the total amount authorized to be issued, shall be made payable to bearer, or to the registered owner, and interest shall be evidenced by proper coupons thereto attached.
Notwithstanding the foregoing provisions of this section, bonds referred to hereinabove may be issued pursuant to the supplemental powers and authorizations conferred by the provisions of the Registered Bond Act, being Sections
31-21-1
through
31-21-7
.
(b)
Bonds issued under the provisions of this article may contain such covenants or other provisions as may be necessary to insure continuing compliance with any federal law applicable to such bonds or the tax exempt nature of the interest income thereon and to assure that such bonds will be readily acceptable in the municipal bond market, provided the same is not inconsistent with the Constitution of the state.
Codes, 1942, § 6532-03; Laws, 1950, ch. 231, § 3; Laws, 1971, ch. 341, § 1; Laws, 1983, ch. 494, § 15; Laws, 1987, ch. 307, § 32; Laws, 1988, ch. 466, § 11, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-29 - Disposition of proceeds of bonds; liability for diversion of funds

The proceeds of any bonds issued by a school district shall be placed in the county or municipal treasury or depository, as the case may be, if there be one, as a special fund, and shall be used for no other purpose than that for which such bonds were authorized to be issued. If the school board of the school district or any member thereof, or any other officer, shall wilfully divert or aid or assist in diverting any such fund, or any part thereof, to any purpose other than that for which such bonds were authorized to be issued, then such person shall be guilty of a felony and, upon conviction, shall be punished by imprisonment in the state penitentiary for a term not exceeding five (5) years. In addition, he shall be liable personally and on his official bond for the amount so diverted. Any member of such school board may escape the penalty provided for above by requesting and having his vote recorded in the negative on any illegal diversion of the proceeds of such bonds. Nothing contained in this section shall be construed to prevent the payment or rebate of a portion of the earnings derived from the investment of the bond proceeds to the federal government to the extent required by the federal laws applicable to such bonds or the interest income thereon in order to maintain their tax exempt status.
Codes, 1942, § 6532-10; Laws, 1950, ch. 231, § 10; Laws, 1953, Ex Sess, ch. 31, § 1; Laws, 1986, ch. 492, § 177; Laws, 1987, ch. 307, § 34, eff. 3/3/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-33 - Transfer of balance of proceeds of bond issue

Whenever a balance shall remain of the proceeds of any bond issue after the purpose for which such bonds were issued shall have been accomplished, such balance shall forthwith be transferred to the bond and interest fund applicable to such bond issue.
Codes, 1942, § 6532-11; Laws, 1950, ch. 231, § 11, eff. 7/1/1950.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-35 - Use of bond and interest funds to buy outstanding bonds

Whenever there shall be on hand in any bond and interest fund an amount in excess of the amount which will be required for expenditure therefrom within the then next succeeding twelve (12) months, the school board may use such excess amount to purchase the outstanding bonds of such school district which are payable from such fund whenever, in the judgment of such school board, the best interest of the district would be served thereby. When such bonds are purchased, they shall be cancelled and retired and shall not thereafter be resold or reissued. Nothing contained in this section shall be construed to prevent the payment of a portion of the earnings derived from the investment of the amounts in the bond and interest fund to the federal government to the extent required by the federal laws applicable to such bonds or the interest income thereon in order to maintain their tax exempt status.
Codes, 1942, § 6532-12; Laws, 1950, ch. 231, § 12; Laws, 1986, ch. 492, § 179; Laws, 1987, ch. 307, § 36, eff. 3/3/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-39 - [Repealed]

Repealed by Laws, 1986, ch. 492, § 181, eff. 7/1/1987.
Codes, 1942, § 6532-14; Laws, 1950, ch. 231, § 14; Am, 1981, ch. 462, § 11; 1982, ch. 434, § 19; 1983, ch. 541, § 24.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-41 - Borrowing of money in anticipation of taxes for benefit of agricultural high schools

The board of trustees of any agricultural high school shall have the power and authority to borrow money for the current expenses of such agricultural high school in anticipation of the collection of ad valorem taxes for the current fiscal year. The money so borrowed shall bear interest at a rate not greater than that allowed in Section
75-17-105
, Mississippi Code of 1972, and shall be repaid not later than the following March 15 out of the first moneys collected by reason of the tax levy or levies in anticipation of which such money is borrowed. The money so borrowed shall be used for no other purpose than the payment of the current expenses of such agricultural high school. The amount borrowed under the provisions of this section shall in no event exceed fifty percent (50%) of the anticipated, but then uncollected, revenue to accrue to such agricultural high school by the tax levy or levies against which such money is borrowed.
In borrowing money under the provisions of this section, it shall not be necessary to publish notice of intention so to do or to secure the consent of the qualified electors, either by election or otherwise. Money may be borrowed under the provisions of this section by authority of a resolution of said board of trustees, and shall be evidenced by a negotiable note or notes, signed and executed in such form as may be prescribed in such resolution. Money may be borrowed in anticipation of ad valorem taxes under the provisions of this section, regardless of whether such borrowing shall create an indebtedness in excess of the statutory limitations.
Codes, 1942, § 6532-15; Laws, 1950, ch. 231, § 15; Laws, 1981, ch. 462, § 12; Laws, 1982, ch. 434, § 20; Laws, 1983, ch. 541, § 25, eff. 4/25/1983.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 1 - AUTHORITY TO ISSUE BONDS, NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-1 — 37-59-45) › Section 37-59-45 - Article as sole authority for incurring of indebtedness

No interest-bearing indebtedness shall hereafter be incurred by any such school district except in the manner provided in this article or as may otherwise be provided by law.
Codes, 1942, § 6532-17; Laws, 1950, ch. 231, § 17, eff. 7/1/1950.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 3 - ADDITIONAL AUTHORITY TO ISSUE NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-101 — 37-59-115) › Section 37-59-101 - Purposes for which money may be borrowed

The school board of any school district in the county is authorized and empowered, in its discretion, to borrow money under the terms and conditions specified in this article for the purpose of making repairs, alterations and additions to school buildings of such school districts, for the purpose of erecting school buildings and other buildings used for school purposes, for the purpose of purchasing heating plants, air conditioning, fixtures and equipment for such buildings, for the purpose of purchasing land for school purposes, school buses and transportation equipment, and for the purpose of improving and equipping such lands for school recreational and athletic purposes.
Codes, 1942, § 6533-01; Laws, 1953, Ex Sess, ch. 30, § 1; Laws, 1956, ch. 275; Laws, 1968, ch. 409, § 1; Laws, 1986, ch. 492, § 183; brought forward, Laws, 1987, ch. 307, § 39; Laws, 1991, ch. 534, § 14, eff. 4/11/1991.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 3 - ADDITIONAL AUTHORITY TO ISSUE NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-101 — 37-59-115) › Section 37-59-103 - Adoption of resolution of necessity by board of trustees of school district

Before any money shall be borrowed under the provisions of this article, the school board of the school district shall adopt a resolution declaring the necessity for and its intention of borrowing such money, specifying the amount to be so borrowed, the date or dates of the maturity thereof, and how such indebtedness is to be evidenced. Such resolution shall also set forth the nature and approximate cost of the alterations, additions, and repairs to be made, or of the erections contemplated, or of the heating plant, fixtures and equipment necessary to be purchased, or of the land to be purchased, improved or equipped, or of the school buses and transportation equipment to be purchased, as the case may be, and shall declare in said resolution that no funds are available in the school funds of the district or from any other source with which to make such repairs, alterations, additions, purchases, erections or improvements.
Codes, 1942, § 6533-02; Laws, 1953, Ex Sess, ch. 30, § 2; Laws, 1986, ch. 492, § 184; Laws, 1987, ch. 307, § 40, eff. 3/3/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 3 - ADDITIONAL AUTHORITY TO ISSUE NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-101 — 37-59-115) › Section 37-59-105 - Declaration of intention by local authorities; election; issuance of indebtedness

The said resolution adopted by the school board pursuant to Section
37-59-103
shall be published once each week for two (2) consecutive weeks in a newspaper having a general circulation in the school district involved, with the first publication thereof to be made not less than fifteen (15) days prior to the date upon which the school board is to take final action upon the question of authorizing the borrowing of said money. If no petition requesting an election is filed prior to such meeting, then the school board shall, at said meeting, by resolution spread upon its minutes, give final approval to the borrowing of said money and shall authorize the issuance of negotiable notes or certificates of indebtedness of the school district therefor in accordance with the provisions of this article.
If at any time prior to said meeting a petition signed by not less than twenty percent (20%) of the qualified electors of the school district involved shall be filed with the school board requesting that an election be called on the question of incurring said indebtedness, then the school board shall, not later than the next regular meeting, adopt a resolution calling an election to be held within such school district upon the question of the incurring of said indebtedness for the purposes and in the amount requested. Such election shall be called and held, and notice thereof shall be given, in the same manner provided in Article 1 of this chapter for elections upon the question of the issuance of the bonds of school districts, and the results thereof shall be certified to the school board. If three-fifths (3/5) of the qualified electors voting in said election shall vote in favor of incurring said indebtedness, then the school board shall proceed to issue said negotiable notes or certificates of indebtedness as prayed for in the original resolution of the school board; however, if less than three-fifths (3/5) of the qualified electors voting in said election vote in favor of incurring said indebtedness, then said notes or certificates of indebtedness shall not be issued.
Money may be borrowed under the provisions of this article and the negotiable notes or certificates of indebtedness evidencing same may be issued as provided in this article (1) without the necessity of being authorized in an election called for that purpose, except where a petition requesting an election is filed as provided herein and (2) without the necessity of giving notice thereof except as specifically provided herein, and specifically without the necessity of complying with the requirements of Section
31-19-25
.
Codes, 1942, §§ 6533-03, 6533-09; Laws, 1953, Ex Sess, ch. 30, §§ 3, 9; Laws, 1986, ch. 429, § 3; Laws, 1986, ch. 492, § 185; Laws, 1987, ch. 307, § 41, eff. 3/3/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 3 - ADDITIONAL AUTHORITY TO ISSUE NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-101 — 37-59-115) › Section 37-59-107 - Annual levy of special tax

The levying authority for the school district shall annually levy a special tax on all of the taxable property of the school district on whose behalf the notes or certificates of indebtedness are issued, except as provided in Section
37-7-104.3(7)
, in an amount which shall be sufficient to pay the principal of and interest upon such negotiable notes or certificates of indebtedness as the same shall respectively mature and accrue, including any notes issued under the direction of a conservator of a school district pursuant to the authority of Section
37-7-104.3(7)
. Said tax shall be levied and collected at the same time and in the same manner as other taxes are collected and said tax shall be in addition to all other taxes authorized by law. It is expressly provided, however, that, except as provided in Section
37-7-104.3(7)
, such annual tax levy shall not exceed three (3) mills on the dollar for the payment of all notes issued under the provisions of this article and all notes previously issued under the statutes hereby repealed. The special tax so levied shall be collected by the tax collector of the county at the same time and in the same manner as other taxes are collected, and the proceeds thereof shall be paid to the school district and shall be used exclusively for the payment of principal of and interest upon such negotiable notes or certificates of indebtedness.
Codes, 1942, § 6533-05; Laws, 1953, Ex Sess, ch. 30, § 5; Laws, 1986, ch. 429, § 1; Laws, 1986, ch. 492, § 186, eff. 4/15/1986.
Amended by Laws, 2014, ch. 537, SB 2818, 5, eff. 4/24/2014.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 3 - ADDITIONAL AUTHORITY TO ISSUE NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-101 — 37-59-115) › Section 37-59-109 - Procedure for issuance of bonds where district lies in two or more counties; levy of special tax

If the school district on whose behalf money is to be borrowed under the provisions of this article shall lie in two (2) or more counties, said school board shall take all steps required by this article in the issuance of the negotiable notes or certificates of indebtedness of the district without regard to county lines. The negotiable notes or certificates of indebtedness shall be general obligations of the entire school district without regard to county lines and shall constitute a lien upon all of the taxable property thereof.
The board of supervisors of the county which furnishes the largest assessed valuation of the property in the district shall annually certify to the board of supervisors of each county in which the district is located the amount of the annual tax levy required for the payment of the principal of and interest upon said notes or certificates of indebtedness, and each such board of supervisors shall annually levy such tax at the same time and in the same manner as other taxes are levied by such board in the amount so fixed. The taxes so levied shall be collected by the tax collector of each county in the same manner as other taxes are collected and shall be remitted to the school district depository. Such school district depository shall deposit said funds to the credit of the special fund provided for in Section
37-59-107
for the payment of the principal of and interest upon such notes or certificates of indebtedness.
Codes, 1942, § 6533-07; Laws, 1953, Ex Sess, ch. 30, § 7; Laws, 1986, ch. 492, § 187; brought forward, Laws, 1987, ch. 307, § 42, eff. 3/3/1987.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 3 - ADDITIONAL AUTHORITY TO ISSUE NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-101 — 37-59-115) › Section 37-59-113 - Disposition of proceeds of notes or certificates; disposition of balance of proceeds

The proceeds of any negotiable notes or certificates of indebtedness issued under the provisions of this article shall be placed in a special fund and shall be expended only for the purpose or purposes for which they were issued as shown by the resolution authorizing the issuance thereof. If a balance shall remain of the proceeds of such notes or certificates of indebtedness after the purpose or purposes for which same were issued shall be accomplished, such balance shall forthwith be transferred to the special fund set up for the payment thereof in Section
37-59-107
.
Codes, 1942, § 6533-06; Laws, 1953, Ex Sess, ch. 30, § 6, eff. 7/1/1954.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 3 - ADDITIONAL AUTHORITY TO ISSUE NOTES AND CERTIFICATES OF INDEBTEDNESS (§§ 37-59-101 — 37-59-115) › Section 37-59-115 - Limitation of indebtedness

The indebtedness incurred under the authority of this article shall not be included in computing the statutory limitation upon the indebtedness which may be incurred by school districts as provided in Article 1 of this chapter, or any other statute, but shall be in addition thereto. The only limitation upon the amount of indebtedness which may be incurred under the provisions of this article shall be that provided in Section
37-59-107
.
Codes, 1942, § 6533-08; Laws, 1953, Ex Sess, ch. 30, § 8, eff. 7/1/1954.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 5 - ISSUANCE OF NOTES AND CERTIFICATES ON INDEBTEDNESS IN CERTAIN MUNICIPAL SEPARATE SCHOOL DISTRICTS [Repealed] (§ 37-59-201) › Section 37-59-201 - through 37-59-213 - [Repealed]

Repealed by Laws, 1986, ch. 492, § 189, eff. 7/1/1987.
Codes, 1942, §§ 6533-21-6533-28; Laws, 1966, Ex Sess, ch. 44, §§ 1-8.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 59 - SCHOOL BONDS AND OBLIGATIONS (§§ 37-59-1 — 37-59-301) › Article 7 - REDUCED OR INTEREST-FREE DEBT (§ 37-59-301) › Section 37-59-301 - Authority of school districts to secure interest-free treatment of debt under federal law; construction of section

Notwithstanding any law or any provision of any law to the contrary, the following additional and supplemental powers and authorizations are hereby granted to each public school district in connection with the issuance of any debt, as defined herein.
(a)
For purposes of this section, "debt" means any note, bond, lease or other evidence of indebtedness that a district is authorized to issue under any provision of law, and shall include debt issued by or on behalf of an agricultural high school.
(b)
Any school district issuing debt may, by resolution of its board of trustees or board of education, do all things regarding the form, payment structure, purchase price and terms of such debt which may be helpful in qualifying the debt for reduced or interest free treatment under any federal law or the regulations promulgated thereunder and to assure that such debt will be readily acceptable in the municipal bond market, provided the same is not inconsistent with the Constitution of the state. Provided, however, that nothing in this section shall be construed as allowing a school district to exceed the final maturity term or exceed any debt limitation provided in the applicable state law authorizing the debt.
(c)
This section shall be construed to be supplemental and additional to any powers conferred by other laws on school districts and not in derogation of any such powers not existing. The section is remedial in nature and shall be liberally construed. Provided, however, that this section shall not grant any extra authority to a school board to issue debt in any amount exceeding statutory limitations on assessed value of taxable property within such school district or the statutory limitations on debt maturities, and shall not grant any extra authority to impose, levy or collect a tax which is not otherwise expressly provided for.
Laws, 2000, ch. 526, § 1; Laws, 2004, ch. 485, § 2, eff. 7/1/2004.
Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 61 - EXPENDITURE OF SCHOOL FUNDS; BUDGETS (§§ 37-61-1 — 37-61-37) › Section 37-61-1 - "Fiscal year" and "scholastic year" defined

The "fiscal year" of all school districts of this state shall commence on July 1 and end on June 30 of each year. The "scholastic year" of the public schools of this state shall likewise commence on July 1 and end on June 30 of each year.
Codes, 1942, § 6534-01; Laws, 1953, Ex Sess, ch. 27, § 1; Laws, 1986, ch. 492, § 190, eff. 7/1/1987.