reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 5 - STATE PORTS AND HARBORS (§§ 59-5-1 — 59-5-69) › Section 59-5-59 - Allocation of revenues, rents and earnings to payment of bonds; sinking fund

The net revenues, rents, and earnings derived from any planned development or the net revenues, rents, and earnings received by the board produced by a state port, harbor, or part thereof, for which bonds have been issued, shall be pledged and allocated by the board to the payment of the principal of and interest on the bonds issued for such planned development as the resolution authorizing the issuance of the bonds may provide, and such pledge may include funds received from one or more or all sources available to such planned development and shall be set aside at regular intervals into a sinking fund, which sinking fund shall be pledged to and charged with the payment of:
(a)
The interest upon such bonds as such interest shall accrue.
(b)
The principal of the bonds when due, or when declared to be due, as prescribed by the resolution authorizing the bonds.
(c)
The necessary charges of the paying agent or paying agents for paying principal and interest of and on such bonds.
(d)
Any premium on bonds retired by call or purchase as may be provided therein.
(e)
Net revenues shall be defined in the agreement between the board and the city or county, or other authorized port or harbor agency, as provided in Sections
59-5-17
and
59-5-19
.
The use and disposition of such sinking fund shall be subject to such regulations as may be provided in the resolution authorizing any issue of bonds, but except as may otherwise be provided in such resolution such sinking fund shall be a fund for the benefit of all bonds issued under such resolution, without distinction or priority of one over the other. Subject to the provisions of the resolution authorizing the issuance of the bonds, surplus moneys in the sinking fund may be applied to the purchase or redemption of any of such bonds, and any such bonds so purchased or redeemed shall forthwith be cancelled and shall not again be issued.
Codes, 1942, § 7464-21; Laws, 1958, ch. 365, § 21; Laws, 1967, Ex. Sess. ch. 7, § 6, eff. 6/29/1967.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 5 - STATE PORTS AND HARBORS (§§ 59-5-1 — 59-5-69) › Section 59-5-61 - Refunding bonds

The board is authorized to provide by resolution for the issuance of refunding bonds by the state bond commission for the purpose of refunding any bonds issued under the provisions of this chapter and then outstanding, together with interest thereon to the date of such refunding bonds, and redemption premium thereon, if any. The issuance of such refunding bonds, the maturity, and all other details thereof, the rights of the holders thereof and the duties of the board and state port authority in respect thereto shall be governed by the provisions of this chapter in so far as the same may be applicable.
Codes, 1942, § 7564-22; Laws, 1958, ch. 365, § 22, eff. 4/28/1958.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 5 - STATE PORTS AND HARBORS (§§ 59-5-1 — 59-5-69) › Section 59-5-63 - Bonds as legal investments and securities for deposits of public funds

All bonds issued under the provisions of this chapter shall be legal investments for trustees and other fiduciaries, and for savings banks, trust companies, the board of trustees of the public employees' retirement system, and insurance companies organized under the laws of the State of Mississippi, and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and political subdivisions for the purpose of securing the deposit of public funds.
Codes, 1942, § 7564-23; Laws, 1958, ch. 365, § 23, eff. 4/28/1958.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 5 - STATE PORTS AND HARBORS (§§ 59-5-1 — 59-5-69) › Section 59-5-65 - Representation of State Bond Commission by Attorney General; payment of costs of sale, issuance and delivery of bonds

Except as otherwise authorized in Section
7-5-39
, the Attorney General of the State of Mississippi shall represent the State Bond Commission in issuing, selling and validating bonds herein provided for. The State Bond Commission is hereby authorized and empowered to pay the costs that are incident to the sale, issuance and delivery of the bonds herein provided for, and such costs may be paid for out of the proceeds derived from the sale of such bonds.
Codes, 1942, § 7564-27; Laws, 1958, ch. 365, § 27; Laws, 1991, ch. 397 § 3; Laws, 2012, ch. 546, § 27, eff. 7/1/2012.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 5 - STATE PORTS AND HARBORS (§§ 59-5-1 — 59-5-69) › Section 59-5-67 - Annual audit of state port authorities

The books and accounts of all state port authorities shall be audited at the end of each fiscal year by the state auditor. A copy of the audit shall be filed with the governor, the state auditor, the state fiscal management board, legislative budget office and the Mississippi Board of Economic Development, and a copy shall be kept on file in the office of the particular state port authority so audited.
Codes, 1942, § 7564-32; Laws, 1970, ch. 304, § 1; Laws, 1984, ch. 488, § 251, eff. 7/1/1984.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 5 - STATE PORTS AND HARBORS (§§ 59-5-1 — 59-5-69) › Section 59-5-69 - Annual budget of state port authorities

Each state port shall adopt a complete, detailed and itemized budget for each fiscal year and all expenditures shall be made only pursuant to appropriation approved by the legislature and as provided by law.
Codes, 1942, § 7564-33; Laws, 1970, ch. 304, § 2; Laws, 1984, ch. 488, § 252, eff. 7/1/1984.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 6 - COMPACT FOR DEVELOPMENT OF DEEP DRAFT HARBOR AND TERMINAL (§§ 59-6-1 — 59-6-7) › Section 59-6-1 - "Deep Draft Harbor and Terminal" defined

For the purpose of this chapter, the term "Deep Draft Harbor and Terminal" means a structure, series of structures, or facility of any type located on the continental shelf off the coast designed to accommodate deep draft vessels whose draft is greater than the depths of the present United States' harbors and waterways commonly used by oceangoing traffic, and includes all functionally-related structures and facilities which are necessary or useful to the operation of the terminal whether on land or seaward of the main structure or facility.
Laws, 1973, ch. 379, § 1, eff. 3/26/1973.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 6 - COMPACT FOR DEVELOPMENT OF DEEP DRAFT HARBOR AND TERMINAL (§§ 59-6-1 — 59-6-7) › Section 59-6-3 - Authorization of compact

The governor, on behalf of this state, is hereby authorized to execute a compact, in substantially the form as provided hereinafter, with the State of Alabama.
Laws, 1973, ch. 379, § 2, eff. 3/26/1973.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 6 - COMPACT FOR DEVELOPMENT OF DEEP DRAFT HARBOR AND TERMINAL (§§ 59-6-1 — 59-6-7) › Section 59-6-7 - Grant of powers; authority and duties of state officers; appointment of members of authority

There is hereby granted to the governor, to the members of the Gulf Coast Superport Development Authority for Mississippi and to the compact administrator all the powers provided for in said compact and in this chapter. All officers of the State of Mississippi are hereby authorized and directed to do all things falling within their respective jurisdictions which are necessary or incidental to carrying out the purpose of said compact. The members of the authority appointed by the governor of the State of Mississippi under the provisions of Article III of the compact shall be with the advice and consent of the senate.
Laws, 1973, ch. 379, § 4, eff. 3/26/1973.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 1 - GENERAL PROVISIONS (§§ 59-7-1 — 59-7-21) › Section 59-7-1 - Payment of portion of state ad valorem taxes collected by certain counties into county depository

In all counties in the State of Mississippi in which there is located a harbor or port of entry where commodities are exported to foreign nations, and where there is maintained a channel and/or harbor or port to a depth of not less than twenty feet, the tax collector of said county shall pay into the county depository, the amount of two mills of all ad valorem taxes due by said county to the State of Mississippi which is collected by the tax collector of said county or which may be collected by any other lawful taxing agency of such county and state for such county.
Codes, 1942, § 7565; Laws, 1932, ch. 269; Laws, 1968, ch. 361, § 11, eff. 1/1/1972.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 1 - GENERAL PROVISIONS (§§ 59-7-1 — 59-7-21) › Section 59-7-3 - Port fund

The board of supervisors of the county or counties designated in section
59-7-1
shall place all money so retained and collected in the county depository in the county to the credit of a fund which shall be known as a port fund, and such fund so deposited shall be used only for the maintenance, construction, promotion, advertising and general advancement of the port of entry so located in said county, and the fund shall be expended by the board of supervisors of the county for the maintenance, construction, promotion, advertisement, and general advancement of any port or ports of entry in said county or counties and the payment of any outstanding bonds and interest thereon heretofore or hereafter issued for port purposes by any municipality in which said port or ports are located as hereinafter provided.
Codes, 1942, § 7566; Laws, 1932, ch. 269; Laws, 1935, ch. 66.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 1 - GENERAL PROVISIONS (§§ 59-7-1 — 59-7-21) › Section 59-7-5 - Authorization of municipal harbor improvements

The authorities of any municipality in which there is situated and located, in whole or in part, a port of entry through which commodities are imported and exported to foreign nations, which maintains a channel and/or harbor to a depth of not less than twenty feet, are hereby given the authority to engage in, through the agency hereinafter provided and designated and such other agencies as hereinafter may be provided by law, work of internal improvement, or promoting, developing, constructing, maintaining, and operating harbors or seaports within the state and its jurisdiction, acting through the commission hereinafter provided for, shall have the power to acquire, purchase, install, lease, construct, own, hold, maintain, equip, use, control and operate at seaports, wharves, piers, docks, quays, grain elevators, cotton compresses, warehouses and other water and rail terminals and other structures, and facilities needful for the convenient use of the same in the aid of commerce including the dredging of approaches thereto, provided that such work on improvements and facilities shall always be and remain under the management and control of said municipality through the governing agency hereinafter provided and designated, or other such governing agency or agencies as hereinafter may be provided by law. The entire cost of the said municipality of engaging in such work or development shall not exceed the sum of one million dollars ($1,000,000.00).
Codes, 1942, § 7567; Laws, 1932, ch. 269.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 1 - GENERAL PROVISIONS (§§ 59-7-1 — 59-7-21) › Section 59-7-7 - Operation of improvements; disposition of revenues; annual report

All improvements, constructed by and under the provisions of this article, shall be operated under the control of a port commission as provided in Chapter 1 of this title. All revenue created or collected from the use of said docks, harbors and facilities of whatsoever nature shall be paid into the city treasury of said port of entry to be used exclusively for the advancement, development and advertising of said port in whatsoever method or manner said port commissioners shall see fit, and all revenue provided for in this article, either by levy or collection from said docks and harbor facilities may be paid to the retirement of any bonds heretofore issued or hereafter issued by any such municipality for wharf construction or other port purposes, regardless of the time of issuance of such bonds. Said port commissioners of said port of entry shall make an annual report to the governor of the State of Mississippi, to the state legislature, to the board of supervisors, and to the municipal governing authorities.
Codes, 1942, § 7568; Laws, 1932, ch. 269; Laws, 1935, ch. 66; Laws, 1970, ch. 406, § 1, eff. 7/1/1970.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 1 - GENERAL PROVISIONS (§§ 59-7-1 — 59-7-21) › Section 59-7-9 - Expenditure of funds arising under article; bonds generally

All monies accruing by virtue of this article, either through revenues, tariffs, or bonds, or through other sources, shall be expended at the direction of the port commission appointed for any port of entry, as designated herein, and any bond issue hereunder by any municipality, coming under the provisions of this article, shall be exclusive of any and all other bonds issued by said municipality, and the same shall not be limited as now provided by law.
Codes, 1942, § 7569; Laws, 1932, ch. 269.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 1 - GENERAL PROVISIONS (§§ 59-7-1 — 59-7-21) › Section 59-7-11 - Authorization for issuance of bonds generally

The authorities of any municipality in which there is situated and located in whole or in part a port of entry through which commodities are imported or exported are hereby given authority to issue bonds or other obligations to construct all needful improvement or improvements in harbors within their corporate limits, and including the deepening of any part of said harbor or extending, enlarging and adding to the same by dredging of any part of said harbor or extending inland, to acquire, construct, repair and improve public wharves and docks of said municipality in connection with said harbor; to own, construct, lease and maintain sheds, warehouses, elevators, compresses and other works of public improvement, including roadways or rail trackage necessary or useful for such port, harbor and/or docks and wharf purposes.
Codes, 1942, § 7570; Laws, 1932, ch. 269.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 1 - GENERAL PROVISIONS (§§ 59-7-1 — 59-7-21) › Section 59-7-13 - Details of bonds; supplemental powers and authorizations for issuance of bonds

All of the bonds issued pursuant to the authority set forth in Section
59-7-11
shall be lithographed or engraved, and printed in two (2) or more colors, to prevent counterfeiting, and shall be in sums not less than one hundred dollars ($100.00) nor more than one thousand dollars ($1,000.00) each, and shall be registered as issued, be numbered in a regular series from one (1) upward, be signed by the mayor and countersigned by the clerk who shall impress the municipal seal upon each bond as it is issued; and every bond shall specify on its face the purpose for which it was issued; and the total amount authorized to be issued and each shall be payable to bearer. All such monies above referred to, as retained by the boards of supervisors, shall first be appropriated by the boards of supervisors for the payment of interest and sinking fund for any and all bonds issued by the municipality for port purposes and the balance, if any, shall be expended by the boards of supervisors by and under the direction and advice of the port commission of said municipality. However, in case there is not sufficient money to pay the interest and sinking funds on said bonds the corporate authorities of municipalities issuing said bonds shall levy annually a special levy to be used exclusively in paying the interest on each bond and bonds maturing within the year providing a sinking fund for the redemption of the bonds issued. However, such tax levy shall not be made by municipalities to pay bonds, nor the interest thereon, issued under Article 7 of this chapter.
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
.
Codes, 1942, § 7571; Laws, 1932, ch. 269; Laws, 1935, ch. 66; Laws, 1983, ch. 494, § 28, eff. 4/11/1983.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 1 - GENERAL PROVISIONS (§§ 59-7-1 — 59-7-21) › Section 59-7-15 - Conduct of bond issue election generally

Before issuing the bonds authorized by Section
59-7-11
, the corporate authorities shall by resolution spread upon the minutes, declare their intention of issuing said bonds, fixing in said resolution the maximum amount thereof, and the purpose for which they are issued and where an election is required shall fix in such resolution a date upon which an election shall be held in said municipality, of which not less than three weeks notice shall be given by the clerk by a notice published in a newspaper published in said municipality once a week for three weeks preceding said election at three public places in said municipality. Such election shall be held as far as practicable, as other elections are held in municipalities.
Codes, 1942, § 7572; Laws, 1932, ch. 269.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 1 - GENERAL PROVISIONS (§§ 59-7-1 — 59-7-21) › Section 59-7-17 - Qualifications of electors; form and marking of ballots; issuance of bonds without election

At an election required by Section
59-7-15
, all qualified electors of said municipality may vote, and the ballots used shall have printed thereon a brief statement of the amount and purpose of the proposed bond issue and the words, "For the bond issue," and the words, "Against the bond issue," and the voter shall vote by placing a cross (X) opposite his choice of the proposition. In cities of less than twelve thousand inhabitants, when the amount to be issued is not more than thirty thousand dollars the corporate authorities shall publish the resolution in some newspaper published in the county for three full consecutive weeks as herein provided, declaring their intention to issue said bonds, giving the day and date upon which said bonds are to be issued and if twenty per cent of the qualified electors of the municipality file a written protest against the issuance of said bonds, on or before said date, then an election shall be had as herein provided, and if no protest shall be filed, said bonds shall be issued without an election.
Codes, 1942, § 7573; Laws, 1932, ch. 269.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 1 - GENERAL PROVISIONS (§§ 59-7-1 — 59-7-21) › Section 59-7-19 - Issuance of bonds; maturities, interest, and execution; payment of principal and interest on bonds

Should the election provided for in Sections
59-7-15
and
59-7-17
result in favor of the issuance of the bonds, the corporate authorities may issue said bonds, either in whole or in part within one (1) year after the date of such election or within (1) year after final favorable determination of any litigation affecting such bonds, as may be deemed best, and should the bonds be issued by the municipalities without an election therefor as provided. All bonds shall mature annually, with all maturities not longer than twenty (20) years, with not less than one-fiftieth (
1
/
50
) of the total issue to mature each year during the first five (5) years of the life of said bonds, and not less than one-twenty-fifth (
1
/
25
) of the said total issue to mature annually during the succeeding ten-year period of the life of said bonds, and the remainder to be divided into approximately equal payments, one (1) payment to mature during each year of the remaining life of the bonds. Said bonds shall not bear a greater rate of interest than that allowed in Section
75-17-101
, Mississippi Code of 1972, payable semiannually, the denomination and form and place of payment to be fixed in the ordinance of the corporate authorities issuing said bonds, and they shall be prepared and signed by the mayor and clerk of said municipality with the seal of the municipality affixed thereto, but the coupons may only bear a facsimile signature of such mayor and clerk. Such bonds when issued, shall constitute a lien on all the taxable property in such municipality and county and the corporate authorities shall annually levy a special tax on all such property sufficient to pay the principal and interest of such bonds as the same falls due, if there not be sufficient funds provided herein.
Codes, 1942, § 7574; Laws, 1932, ch. 269; Laws, 1981, ch. 462, § 15; Laws, 1982, ch. 434, § 28; Laws, 1983, ch. 541, § 36, eff. 4/25/1983.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 1 - GENERAL PROVISIONS (§§ 59-7-1 — 59-7-21) › Section 59-7-21 - Disposition of proceeds from bonds; penalty for diversion; guarantee of payment

The proceeds of any bonds issued under the authority of this article shall be placed in the municipal treasury or depository, if there be one, as a special fund and shall be used for no other purpose than the purpose set forth in the original resolution of the corporate authorities of such municipality, and any officer diverting or assisting to divert any such funds to any other purpose than the purpose originally set forth in said resolution of the corporate authorities of said municipality shall be guilty of a misdemeanor and punishable accordingly, and shall be liable both personally and on his official bond for such diversion. Nothing in this article shall be construed as a guarantee on the part of the State of Mississippi to pay the interest or principal on any bonds issued under this article.
Codes, 1942, § 7575; Laws, 1932, ch. 269.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-101 - Nature and application of article

This article is supplementary and in addition to Article 1 of this chapter, and shall not apply to any county or counties of the state already receiving two mills of the state ad valorem taxes for port or harbor purposes.
Codes, 1942, § 7576-16; Laws, 1954, Ex. Sess. ch. 28, § 16.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-105 - Issuance of bonds by board of supervisors

To provide additional or supplemental funds for the aforesaid purposes, and in connection therewith to acquire and develop water, air and rail terminals, rail lines, and such other structures, facilities, lands, property or rights therein needful for the convenient use of the same in the aid of commerce, and land for industrial operations, including the establishment and development of industrial parks, as provided in Section
59-9-17
and related sections, the board of supervisors of any such county may issue bonds of such county in an amount not exceeding the principal sum of eleven million dollars ($11,000,000.00). No county shall issue bonds under the provisions of this article which will result in outstanding bonded indebtedness incurred under the provisions of this article in excess of eight million dollars ($8,000,000.00) unless and until the question of the issuance of such bonds shall have been submitted to and approved by a majority of the qualified electors of the county voting in an election called and held for the purpose of considering whether or not such bonds should be issued. The first six million dollars ($6,000,000.00) in aggregate original principal amount of bonds issued under authority of this article shall not be included in computing any present or future debt limit of such county under any present or future law.
Codes, 1942, § 7576-02; Laws, 1954, Ex. Sess. ch. 28, § 2; Laws, 1960, ch. 205; Laws, 1962, ch. 391; Laws, 1964, ch. 426; Laws, 1974, ch. 445; Laws, 1978, ch. 411, § 1; Laws, 1980, ch. 324, § 1; Laws, 1982, ch. 359; Laws, 1984, ch. 423, eff. 4/23/1984.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-107 - Details of bonds; supplemental powers and authorizations as to bond issues

All bonds authorized by Section
59-7-105
shall be negotiable instruments within the meaning of the Mississippi Uniform Commercial Code, shall be lithographed or engraved, and printed in two (2) or more colors, to prevent counterfeiting, shall be registered as issued, shall be numbered in a regular series from one (1) upward, and each bond shall specify on its face the purpose for which it was issued and the total amount authorized to be issued, shall be payable to bearer, and the interest to accrue thereon shall be evidenced by proper coupons to be attached thereto. Such bonds shall be executed by the manual of facsimile signature of the president of the board of supervisors, or the vice president in the absence or disability of the president, and countersigned by the manual of facsimile signature of the clerk thereof, with the official seal of the county affixed thereto. At least one (1) signature on each bond shall be a manual signature, as specified in the issuing resolution. The coupons may bear only the facsimile signatures of such president, or vice president and clerk. All such bonds shall be sold at public sale as provided by law, and no such bonds shall be issued and sold for less than par and accrued interest, and not more than one (1) series of interest coupons shall be attached to any such bonds. All interest accruing on such bonds shall be payable semiannually, except that the first interest coupon attached to any such bond may represent interest for any period not exceeding one (1) year.
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
.
Codes, 1942, § 7576-03; Laws, 1954, Ex. Sess. ch. 28, § 3; Laws, 1978, ch. 411, § 2; Laws, 1983, ch. 494, § 29; eff. 4/11/1983.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-109 - Maturities of bonds; interest

All bonds authorized by Section
59-7-105
shall mature annually, with all maturities not longer than twenty (20) years, with not less than one-fiftieth (
1
/
50
) of the total issue to mature each year during the first five (5) years of the life of such bonds, not less than one-twenty-fifth (
1
/
25
) of the total issue to mature each year during the succeeding ten-year period of the life of such bonds, and the remainder to be divided into approximately equal annual payments, one (1) payment to mature each year for the remaining life of such bonds. Such bonds shall not bear a greater overall maximum interest rate to maturity than that allowed in Section
75-17-101
, Mississippi Code of 1972. The denomination, form and place or places of payment of such bonds shall be fixed in the resolution or order of the board of supervisors issuing such bonds.
No interest payment shall be evidenced by more than one (1) coupon, and neither cancelled nor supplemental coupons shall be permitted. The lowest interest rate specified for any bonds issued shall not be less than sixty percent (60%) of the highest interest rate specified for the same bond issue. The interest rate of any one (1) interest coupon shall not exceed the maximum interest rate allowed on such bonds.
Each interest rate specified in any bid must be in multiples of one-eighth of one percent (1/8 of 1%) or in multiples of one-tenth of one percent (1/10 of 1%), and a zero rate of interest cannot be named.
Codes, 1942, § 7576-04; Laws, 1954, Ex. Sess. ch. 28, § 4; Laws, 1970, ch. 408, § 1; Laws, 1976, ch. 443; Laws, 1978, ch. 411, § 3; Laws, 1980, ch. 324, § 2; Laws, 1981, ch. 462, § 16; Laws, 1982, ch. 434, § 29; Laws, 1983, ch. 541, § 37, eff. 4/25/1983.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-111 - Levy of special tax for payment of principal and interest on bonds; port bonds interest and sinking fund

The board of supervisors of any county which shall have issued bonds under the provisions of this article shall, unless there be sufficient funds otherwise available therefor in the port bonds interest and sinking fund, annually levy a special tax upon all of the taxable property within such county at a rate which shall be sufficient to provide for the payment of the principal of and the interest on such bonds according to the terms thereof. All taxes thus collected shall be credited to a special fund in the county treasury of such county to be known and designated as the "port bonds interest and sinking fund," and all sums credited to said fund shall be used to pay such bonds as they mature and the interest thereon as it accrues, and for no other purpose. It shall be the mandatory duty of such board of supervisors to transfer funds from said port fund to the port bonds interest and sinking fund in amounts sufficient to pay maturing principal and accruing interest on bonds issued hereunder, if balances standing to the credit of said port fund are sufficient for that purpose. To the extent that funds are thus made available for the payment of such bonds and the interest thereon, the special tax levy hereinabove provided for may be correspondingly reduced. The said bonds nevertheless shall be general obligations of the county issuing the same, and the full faith, credit and resources of such county shall be pledged to the payment thereof and the interest thereon.
Codes, 1942, § 7576-05; Laws, 1954, Ex. Sess. ch. 28, § 5.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-113 - Resolution of intention to issue bonds; bond issue election generally

Before issuing any bonds for any of the purposes herein enumerated, the board of supervisors shall adopt a resolution declaring its intention so to do, stating the amount of bonds proposed to be issued and the purpose for which the bonds are to be issued, and the date upon which the board proposes to direct the issuance of such bonds. Such resolution shall be published once a week for at least three consecutive weeks in at least one newspaper published in such county. The first publication of such resolution shall be made not less than twenty-one days prior to the date fixed in such resolution for the issuance of the bonds, and the last publication shall be made not more than seven days prior to such date. If no newspaper be published in such county, then such notice shall be given by publishing the resolution for the required time in some newspaper having a general circulation in such county and, in addition, by posting a copy of such resolution for at least twenty-one days next preceding the date fixed therein at three public places in such county. If twenty per cent (20%) of the qualified electors of the county shall file a written protest against the issuance of such bonds on or before the date specified in such resolution, then an election on the question of the issuance of such bonds shall be called and held as is herein provided. If no such protest be filed, then such bonds may be issued without an election on the question of the issuance thereof, at any time within a period of two years after the date specified in the above-mentioned resolution. However, the board of supervisors, in its discretion, may nevertheless call an election on such question, in which event it shall not be necessary to publish the resolution declaring its intention to issue such bonds as herein provided.
Codes, 1942, § 7576-06; Laws, 1954, Ex. Sess. ch. 28, § 6.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-115 - Notice of election on bond issue

Where an election is to be called, as provided in Section
59-7-113
, notice of such election shall be signed by the clerk of the board of supervisors and shall be published once a week for at least three consecutive weeks, in at least one newspaper published in such county. The first publication of such notice shall be made not less than twenty-one days prior to the date fixed for such election and the last publication shall be made not more than seven days prior to such date. If no newspaper is published in such county, then such notice shall be given by publishing the same for the required time in some newspaper having a general circulation in such county, and, in addition, by posting a copy of such notice for at least twenty-one days next preceding such election at three public places in such county.
Codes, 1942, § 7576-07; Laws, 1954, Ex. Sess. ch. 28, § 7.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-117 - Conduct of election on issue of bonds; qualifications of electors; form and marking of ballots

The election provided for in Sections
59-7-113
and
59-7-115
shall be held, as far as is practicable, in the same manner as other elections are held in counties. At such election, all qualified electors of such county may vote, and the ballots used at such election shall have printed thereon a brief statement of the amount and purpose of the proposed bond issue and the words "FOR THE BOND ISSUE" and "AGAINST THE BOND ISSUE," and the voter shall vote by placing a cross (x) or check mark (Y) opposite his choice on the proposition.
Codes, 1942, § 7576-08; Laws, 1954, Ex. Sess. ch. 28, § 8.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-119 - Duties of board of supervisors as to elections

When the results of the election on the question of the issuance of bonds under the provisions of this article shall have been canvassed by the election commissioners of such county and certified by them to the board of supervisors of such county, it shall be the duty of such board of supervisors to determine and adjudicate whether or not three-fifths (3/5ths) of the qualified electors who voted in such election voted in favor of the issuance of such bonds and, unless three-fifths (3/5ths) 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 (3/5ths) of the qualified electors who vote in such election vote in favor of the issuance of such bonds, then the board of supervisors of the county may issue such bonds, either in whole or in part, within two years from the date of such election, or within two years after the final favorable termination of any litigation affecting the issuance of such bonds, as such board shall deem best.
Codes, 1942, § 7576-09; Laws, 1954, Ex. Sess. ch. 28, § 9.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-121 - Disposition of proceeds of bond issues; penalties for diversion

The proceeds of any bonds issued by any county pursuant to the provisions of this article shall be placed in the county treasury or depository, if there be one, in a special fund and shall be expended by the board of supervisors of such county for the purpose or purposes for which the bonds were authorized to be issued, and for no other. If the board of supervisors of any such county or any member thereof or any other officer shall willfully 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, 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 years and, in addition, shall be liable personally on his official bond for the amount so diverted. Any member of such board of supervisors may escape the penalty herein provided for by having his vote recorded in the negative on any illegal diversion of the proceeds of such bonds.
Codes, 1942, § 7576-10; Laws, 1954, Ex. Sess. ch. 28, § 10.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-123 - Transfer of proceeds of bond issue to port bonds interest and sinking fund

Whenever a balance shall remain in 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 port bonds interest and sinking fund hereinabove provided for.
Codes, 1942, § 7576-11; Laws, 1954, Ex. Sess. ch. 28, § 11.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-127 - Meetings; officers

When such port commissioners provided for in Section
59-7-125
shall have been appointed and shall have been qualified as set out herein, they shall meet at the regular meeting place of the board of supervisors of such county, after giving at least five days' notice of the time and place of such meeting by publication in a newspaper published at the county seat of such county. At such meeting they shall elect a president and a secretary who shall be members of the commission, and adopt such rules as may govern the time and place for holding meetings, regular and special, not inconsistent with the provisions of this article.
Codes, 1942, § 7576-13; Laws, 1954, Ex. Sess. ch. 28, § 13.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-129 - Powers and duties of commission generally

The duties and powers of such port commission provided for in Section
59-7-125
shall be the same as those which are set forth and prescribed in Sections
59-1-9
and
59-1-27
, except that the salary of the port director shall be subject to the approval of the board of supervisors.
Codes, 1942, § 7576-14; Laws, 1954, Ex. Sess. ch. 28, § 14.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 3 - SUPPLEMENTARY PROVISIONS (§§ 59-7-101 — 59-7-131) › Section 59-7-131 - Recommendations by commission as to expenditure of funds

It shall be the duty of such port commission, from time to time, to make recommendations to the board of supervisors of such county concerning expenditures to be made for the improvement, promotion, development, construction, maintenance and operation of the harbor and port facilities of such county, and shall annually submit to such board of supervisors a proposed budget for the operation and maintenance of such harbor and port facilities, which recommendations and budget shall be subject to approval of the board of supervisors. Except as provided in Section
59-7-111
, the port fund shall be subject to expenditure by the port commission.
The port commission may recommend to the Legislative Budget Office, the State Fiscal Management Board, and the county board of supervisors that certain excess funds in the port fund be transferred to any industrial development authority within the county. Upon approval by the State Fiscal Management Board and the county board of supervisors, the port commission may transfer such excess funds, or any portion thereof which may be designated by the State Fiscal Management Board and county board of supervisors, as provided herein.
The port commission in any county bordering the Mississippi River and having a population of more than fifty-one thousand (51,000) but less than fifty-two thousand (52,000) according to the 1980 federal census may recommend to the board of supervisors the expenditure of excess funds in the port fund for the acquisition of lands in the county to be used for industrial development purposes. Upon the acquisition of such lands, excess funds in the port fund may also be expended to provide necessary utilities and other improvements the board of supervisors deems necessary and requisite for industrial development. Any lands acquired hereunder shall be titled in the name of the county.
For the purposes of this section, the term "excess funds" means monies determined to be in excess of those necessary to fund the budget for the fiscal year.
Codes, 1942, § 7576-15; Laws, 1954, Ex. Sess. ch. 28, § 15; Laws, 1983, ch. 532; Laws, 1984, ch. 488, § 254; Laws, 1986, ch. 323, eff. 3/13/1986.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 5 - SUPPLEMENTAL AND ADDITIONAL POWERS (§§ 59-7-201 — 59-7-213) › Section 59-7-201 - Application and construction of article

This article shall be applicable to all counties electing to come under the terms and provisions of Article 3 of this chapter and in which a flood control project has been authorized or may be authorized by the federal government which either directly or indirectly involves, or has the result of creating, a potential industrial area or the protection of such an area. This article is supplementary to said Article 3 of this chapter, and all other laws of this state concerning ports and harbors and shall not be construed by way of limitation on any of the powers or authority heretofore granted, but the authority conferred herein is in addition and cumulative thereto.
Codes, 1942, § 7576-21; Laws, 1956, ch. 183, § 1.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 5 - SUPPLEMENTAL AND ADDITIONAL POWERS (§§ 59-7-201 — 59-7-213) › Section 59-7-203 - Acquisition of lands after giving of assurances required by federal authorities

Where any county in connection with any such flood control project has given or may give assurances of local cooperation required by the federal authorities, as authorized by law, the board of supervisors of such county shall have the added power and authority, if necessary or desirable for the fulfillment of such assurances, to acquire all lands and easements and rights-of-way, and the fee title to such lands where advisable, either by purchase or by condemnation and, if by condemnation, according to the existing statutes applicable to the acquisition by counties of property for public use.
Where any county of the state which operates any such project has been required to give its assurances by the federal authorities or other agency of the government of the United States of local cooperation and participation in any such project by agreeing to pay any part of the construction costs of such project or projects, then the board of supervisors of such county shall have the added power and authority, if necessary and desirable for the fulfillment of such assurances, to sign agreements with such federal authorities or other agency of the government of the United States whereby such participating county agrees to pay its part of the cost of such construction or any fractional part thereof, including interest of not more than three per cent (3%) per annum, and provided further that said assurances shall be due and payable within the primary term of forty years from the time such assurances are given.
Codes, 1942, § 7576-22; Laws, 1956, ch. 183, § 2; Laws, 1962, ch. 392, § 1, eff. 5/22/1962.
Mississippi Code 1972 (2023) › Title 59 - PORTS, HARBORS, LANDINGS AND WATERCRAFT (§§ 59-1-1 — 59-25-17) › Chapter 7 - COUNTY AND MUNICIPAL HARBORS (§§ 59-7-1 — 59-7-519) › Article 5 - SUPPLEMENTAL AND ADDITIONAL POWERS (§§ 59-7-201 — 59-7-213) › Section 59-7-207 - Operation of port facilities; employment of personnel

The commission referred to in Section
59-7-205
may establish and operate said port facilities on such plan as it may determine upon, including the right to employ, or delegate to the port director the employment of such engineering and legal assistants and such subordinate personnel as the commission may deem necessary, to provide for the wages and compensation of the port director and all other employees; and, in their discretion, to require that the port director and such other subordinate personnel as may be deemed necessary and desirable post a bond written by a surety company or companies authorized to do business in the State of Mississippi in such amount as the commission may designate, conditioned on the faithful discharge of all of their duties as such employees, the premiums on such bonds to be paid from said port fund in the discretion of the commission.
Codes, 1942, § 7576-24; Laws, 1956, ch. 183, § 4.