reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 11 - STATE CONSTRUCTION PROJECTS (§§ 31-11-1 — 31-11-111) › IN GENERAL (§§ 31-11-1 — 31-11-35) › Section 31-11-30 - Capital improvements costing $2 million or more to be funded in two phases; each phase to be funded in separate legislative sessions; phase 1 to be preplanned capital improvements project budget projection; phase 2 to be actual repair, renovation, construction, remodeling, etc.; exemptions

(1)
Every capital improvements project for new facilities, costing Two Million Dollars ($2,000,000.00) or more, which is developed to repair, renovate, construct, remodel, add to or improve a state-owned public building shall be funded by the Legislature in two (2) phases. The two-phase funding requirement shall not apply to capital improvements projects for a state-owned port or where the Legislature finds that an emergency or critical need must be met or a court order complied with. The two (2) phases shall not be funded in the same regular session of the Legislature. Each phase shall be funded in a separate session of the Legislature. Phase 1 shall be a preplanned capital improvements project budget projection for the project and shall be funded first. Phase 2 shall be the actual repair, renovation, construction, remodeling, addition to or improvement of the state-owned public building and the acquisition of furniture and equipment for the capital improvements project and shall be funded second.
(2)
For the purposes of this section:
(a)
"Preplanned" or "preplanning" means the preliminary planning that establishes the program, scope, design and budget for a capital improvements project.
(b)
"Emergency" has the meaning as defined in Section
31-7-1
.
(c)
"Critical need" means necessary to meet accreditation standards or necessary to respond to failures in planning.
(3)
Every state agency that plans to repair, renovate, construct, remodel, add to or improve a state-owned public building shall submit a preplanned capital improvements project budget projection to the Bureau of Building, Grounds and Real Property Management for evaluation. The bureau shall assess the need for all preplanned projects submitted and shall compile a report on its findings. Any capital improvements project for new facilities costing less than Two Million Dollars ($2,000,000.00) shall not be required to be preplanned.
(4)
Upon the completion of any preplanning for a capital improvements project, if such preplanning is funded with self-generated funds by a state agency, the plan shall be submitted to the bureau for evaluation.
(5)
This section shall not apply to capital improvements projects authorized by the Legislature before the 2001 Regular Session of the Legislature.
(6)
This section shall not apply to any community or junior college project funded in whole or in part by either state bonds or funds appropriated for that construction by the Legislature.
Laws, 2000, ch. 531, § 6; Laws, 2007, ch. 527, § 1, eff. 7/1/2007.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 11 - STATE CONSTRUCTION PROJECTS (§§ 31-11-1 — 31-11-111) › IN GENERAL (§§ 31-11-1 — 31-11-35) › Section 31-11-31 - Commission designated to act for state in matters relating to Federal Higher Education Facilities Act of 1963

The office of general services of the State of Mississippi is hereby authorized and empowered to act as the commission designated to perform all functions on behalf of the State of Mississippi as provided for and required in Public Law No. 88-204 of the 88th Congress of the United States of America and being entitled "Higher Education Facilities Act of 1963" as thereafter amended, and the said office of general services is hereby granted such power and authority necessary for the purpose of performing for and on behalf of the State of Mississippi all things required to be done and performed by the office of general services as specified in said Public Law No. 88-204 of the 88th Congress of the United States government, as thereafter amended.
Codes, 1942, § 9023-56; Laws, 1964, ch. 413; Laws, 1984, ch. 488, § 36, eff. 7/1/1984.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 11 - STATE CONSTRUCTION PROJECTS (§§ 31-11-1 — 31-11-111) › IN GENERAL (§§ 31-11-1 — 31-11-35) › Section 31-11-33 - Construction of new public facility to comply with certain building code standards; definitions; specifications; regulation of certain building features

(1)
For purposes of this section, the following terms shall have the meanings hereinafter ascribed:
(a)
"Department" means the Department of Finance and Administration, Bureau of Building, Grounds and Real Property Management.
(b)
"Public facility" means any building or other facility owned by the State of Mississippi, or by any agency, department of the State of Mississippi, that is occupied, used or under the control of the State of Mississippi, or any agency or department of the State of Mississippi, or any junior college district of the State of Mississippi, or the Board of Trustees of State Institutions of Higher Learning of the State of Mississippi, or any institution under the jurisdiction of the Board of Trustees of State Institutions of Higher Learning of the State of Mississippi.
(2)
Any public facility newly constructed from and after July 1, 2006, shall comply with and be built according to specifications not less stringent than those required by the International Code Council and such other standards as adopted by the department that provide guidelines for plumbing, electrical, gas, sanitary and other physical components of new building construction.
(3)
Upon the awarding of a design contract for a new public facility, the architect/engineer shall prepare drawings and specifications in conformity with the code requirements in effect at the time of agreement or, if the code requirements at the time of the agreement are amended, then the drawings and specifications shall be prepared according to the more stringent standards.
(4)
The department may regulate the height, number of stories and size of public facilities, the percentage of the lot that may be occupied, courts and other open spaces, and the location and use of public facilities.
Laws, 2006, ch. 579, § 1, eff. 7/1/2006.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 11 - STATE CONSTRUCTION PROJECTS (§§ 31-11-1 — 31-11-111) › REVENUE-PRODUCING PROJECTS [Repealed] (§ 31-11-51) › Section 31-11-51 - through 31-11-89 - [Repealed]

Repealed by Laws, 1984, ch. 488, § 37, eff. 7/1/1984.
§ 31-11-51. [Codes, 1942, § 9023-22; Laws, 1956, ch. 280, § 2] § 31-11-53. [Codes, 1942, § 9023-23; Laws, 1956, ch. 280, § 3; Laws, 1962, ch. 507, § 1] §§ 31-11-55 through 31-11-87. [Codes, 1942, §§ 9023-24 to 9023-40; Laws, 1956, ch. 280, §§ 4-20] § 31-11-89. [Codes, 1942, § 9023-41; Laws, 1956, ch. 280, § 21; Laws, 1983, ch. 313, § 1]
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 11 - STATE CONSTRUCTION PROJECTS (§§ 31-11-1 — 31-11-111) › ADDITIONAL REVENUE-PRODUCING PROJECTS [Repealed] (§ 31-11-111) › Section 31-11-111 - through 31-11-139 - [Repealed]

Repealed by Laws, 1984, ch. 488, § 37, eff. 7/1/1984.
§ 31-11-111. [Codes, 1942, § 9023-61; Laws, 1963, 1st Ex Sess ch. 15, § 1; 1966, Ex Sess ch. 40, § 1] § 31-11-113. [Codes, 1942, § 9023-62; Laws, 1963, 1st Ex Sess ch. 15, § 2; 1966, Ex Sess ch. 40, § 2; Laws, 1972, ch. 513, § 1; Laws, 1978, ch. 508, § 1] §§ 31-11-115 through 31-11-135. [Codes, 1942, §§ 9023-63 to 9023-72; Laws, 1963, 1st Ex Sess ch. 15, §§ 3-12] § 31-11-137. [Codes, 1942, § 9023-73; Laws, 1963, 1st Ex Sess ch. 15, § 13; Laws, 1983, ch. 313, § 2] § 31-11-139. [Codes, 1942, § 9023-74; Laws, 1963, 1st Ex Sess ch. 15, § 14]
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 13 - VALIDATION OF PUBLIC BONDS (§§ 31-13-1 — 31-13-11) › Section 31-13-1 - State Bond Attorney

(1)
The Governor, with the advice and consent of the Senate, shall appoint a qualified and practicing attorney at law, to be known as the State Bond Attorney, who shall possess the same qualifications for office as the Attorney General, who shall serve a term of office concurrent with that of the Governor or until his successor is appointed and qualified, and whose duties shall be those hereinafter specified.
(2)
When the State Bond Attorney has a conflict of interest under the Mississippi Rules of Professional Conduct that is not consentable due to his or her participation in a validation of a bond, the State Bond Attorney shall immediately notify the Governor, Lieutenant Governor and the Attorney General of the conflict of interest in writing. Upon receipt of such notification, the Governor shall appoint a qualified and practicing attorney-at-law as the State Bond Attorney Pro Tempore, who shall possess the same qualifications for office as the Attorney General, who shall serve a term of office, the duration of which shall be for the sole and limited purpose of reviewing the proposed bond issue validation that is the subject of the conflict of interest and acting upon the same. Upon issuance of the Opinion of the State Bond Attorney Pro Tempore and the conclusion of participation in any validation proceeding or contest, the powers vested in the State Bond Attorney Pro Tempore shall be vacated.
Laws, 1992, ch. 302 § 1, eff. 3/2/1992.
Amended by Laws, 2024, ch. 492, SB 2298,§ 2, eff. 7/1/2024.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 13 - VALIDATION OF PUBLIC BONDS (§§ 31-13-1 — 31-13-11) › Section 31-13-3 - "Bonds" defined

The word "bond" or "bonds," when used in this chapter, shall be deemed to include every form of written obligation that may be now or hereafter legally issued by any county, municipality, school district, road district, drainage district, levee district, sea wall district, and of any other district or subdivision whatsoever, as now existing or as may be hereafter created.
Codes, 1930, § 315; 1942, § 4316; Laws, 1928, ch. 32.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 13 - VALIDATION OF PUBLIC BONDS (§§ 31-13-1 — 31-13-11) › Section 31-13-7 - Final decree validating bonds to be forever conclusive

If the chancellor shall enter a decree confirming and validating said bonds and there shall be no appeal by either party from said decree, or if on appeal the supreme court enters its decree confirming and validating said bonds or other written obligations, the validity of said bonds or other written obligations so issued shall be forever conclusive against the county, municipality, or district issuing same; and the validity of said bonds or other written obligations shall never be called in question in any court in this state.
Codes, Hemingway's 1921 Supp. § 3812c; 1930, § 314; 1942, § 4315; Laws, 1917, ch. 28; Laws, 1928, ch. 32.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 13 - VALIDATION OF PUBLIC BONDS (§§ 31-13-1 — 31-13-11) › Section 31-13-9 - Validated bonds to be so stamped; use of facsimile

Whenever any bonds are validated under the provisions of this chapter, the clerk or other proper officer of the county, municipality, or district issuing same shall stamp or write on each of said bonds over his signature and the seal of the issuer the words "validated and confirmed by decree of the chancery (or supreme) court," together with the date of the rendition of the final decree validating same, which entry shall be taken as evidence of the validation of said bonds in any court in this state. If the resolution authorizing the issuance of the bonds shall so provide, such signature and seal under this section may be a facsimile.
Codes, Hemingway's 1921 Supp. § 3812d; 1930, § 316; 1942, § 4317; Laws, 1917, ch. 28; Laws, 1928, ch. 32; Laws, 1978, ch. 327, § 1; Laws, 1985, ch. 427, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 13 - VALIDATION OF PUBLIC BONDS (§§ 31-13-1 — 31-13-11) › Section 31-13-11 - Court costs and bond attorney's fee and expenses

The court costs in all such cases shall be paid by the county, municipality, or district proposing to issue said bonds or other written obligations, and in addition to such costs it shall also pay to the bond attorney a fee of not more than one-tenth of one percent (1/10 of 1%), provided said fee shall not be less than Five Hundred Dollars ($500.00) nor more than One Thousand Dollars ($1,000.00), of the amount of the bonds or other obligations issued or proposed to be issued. The payment of this fee shall be full compensation for all legal services rendered in connection with the issuance of said bonds, except that when the state's bond attorney attends a hearing of objection to the validation of said bonds, his actual and necessary expenses and a reasonable rate of compensation for attending the said hearing, as required by this chapter, shall be taxed as a part of the costs of the validation proceedings, upon approval by the clerk or chancellor of an itemized account of such expenses and time expended. If objection is filed to the validation of said bonds, then in that event the taxation of court costs, including expenses and a reasonable rate of compensation for the bond attorney, shall be discretionary with the chancellor, as in other cases in the chancery court, against the issuing board or district, or the objector or objectors, or apportioned as the chancellor may deem proper.
Codes, Hemingway's 1921 Supp. § 3812e; 1930, § 317; 1942, § 4318; Laws, 1917, ch. 28; Laws, 1928, ch. 32; Laws, 1968, ch. 370, § 1; Laws, 1979, ch. 371; Laws, 1983, ch. 373, eff. 3/21/1983.
Amended by Laws, 2024, ch. 492, SB 2298,§ 1, eff. 7/1/2024.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-1 - Short title

Sections
31-15-1
through
31-15-19
may be cited as the "General Refunding Law of 1934."
Codes, 1942, § 4358; Laws, 1934, ch. 143.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-3 - Definitions

Whenever used in Sections
31-15-1
through
31-15-19
, the words "political subdivision" shall be deemed as including any county, city, town, or village, whether operating under the code chapter, a special charter, or the commission form of government; and any supervisors district, road district, municipal separate school district, rural separate school district, consolidated school district, line separate school district, or school district of any other form.
The words "governing authority", wherever used in the aforesaid sections, shall be understood as referring to the following: for counties, supervisors districts, road districts, school districts (other than municipal separate school districts), the board of supervisors of the county; for cities, towns, or villages operating under the code, the board of mayor and aldermen thereof; for cities, towns, or villages operating under special charters, the legislative body thereof created by such charters; for cities, towns, or villages operating under the commission form of government, the council or commission thereof; for municipal separate school districts, the governing authority of the city, town, or village within such district.
Codes, 1942, § 4359; Laws, 1934, ch. 143.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-5 - Election not required

(1)
The governing authority of any political subdivision may, without an election on the question of the issuance thereof, issue the bonds of such subdivision for the purpose of refunding any bonded indebtedness of such subdivision now or hereafter outstanding, whether such bonded indebtedness shall at the time of such refunding be due or to mature in the future, and regardless of whether the issuance of such refunding bonds shall create a total bonded indebtedness of such subdivision in excess of the then existing statutory limitation of debt.
(2)
The board of supervisors of any county may issue the bonds of any county, consolidated school district, rural separate school district or separate road district, for the purpose of refunding the outstanding bonded indebtedness of any such county or district when the same shall mature, whether now due or to become due in the future without notice and without an election on the question of the issuance of same, regardless of whether or not the issuance of such bonds shall create a total bonded indebtedness in excess of the then existing statutory limitation of debt.
(3)
Such bonds may be issued in sufficient amount to pay and retire any of the then outstanding bonds, whether matured or to mature in the future, together with interest thereon to the date of the refunding bonds or to such prior date as the governing authority may determine; and such power to refund such bonds and interest may be exercised whenever funds available from taxes are not sufficient to pay such outstanding bonds and the interest thereon whenever they may mature.
Codes, Hemingway's 1921 Supp. § 6662j; 1930, § 5986; 1942, §§ 4346, 4360; Laws, 1920, ch. 207; Laws, 1932, ch. 167; Laws, 1934, ch. 143.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-7 - Interest and form

Such refunding bonds shall bear such rate or rates of interest as may be determined by the governing body, not exceeding, however, six percent (6%) per annum payable semi-annually; shall be in such denomination or denominations and form as may be determined by resolution or order of the governing authority; and shall be executed in behalf of the subdivision by such officer or officers thereof as may be determined in such resolution or order. The interest to accrue on such refunding bonds shall be represented by coupons to be attached thereto, which may be executed by the facsimile signature of such officer or officers. All such bonds shall be made to mature serially, beginning not more than five (5) years and running not longer than thirty (30) years after their date, with not less than one percent (1%) of the total issue to mature each year during the first six (6) years, beginning in the fifth year, after the date of such bonds; not less than three percent (3%) of the said total issue to mature annually during the next succeeding ten-year (10-year) period of the life of such bonds; and not less than five percent (5%) of said total issue to mature annually during the next succeeding ten-year (10-year) period of the life of the bonds.
Codes, 1942, § 4361; Laws, 1934, ch. 143; Laws, 1936, ch. 279; Laws, 1938, Ex. ch. 74.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-9 - Sale and redemption; acceptance of bonds

The resolution or order providing for the issuance of such bonds may reserve unto the governing authority the right to call in, pay, and redeem such bonds in the inverse order of their numbers and maturities, prior to the maturity date or dates thereof on any interest payment date. Whenever it is desired to exercise the aforesaid right, if reserved in such resolution or order, the governing authority shall cause written notice thereof to be delivered to the bank or office at which such bonds are payable. Such notice shall be so delivered not less than thirty days prior to the interest payment date designated for the redemption of such bonds, after which date so designated, no further interest shall accrue on the bonds so called for redemption. Such refunding bonds may be sold for not less than par and accrued interest, or may be exchanged at par for bonds and interest coupons to be refunded thereby.
The board of supervisors may accept county bonds, consolidated school district bonds, rural separate school district bonds or separate road district bonds, as the case may be, at not more than par and interest accruing thereon at the rate fixed in the bonds to be refunded in exchange for said refunding county bonds, consolidated school district bonds, rural separate school district bonds or separate road district bonds, as the case may be. In accepting any bond in exchange for, or in payment of, any such refunding bond, no bond shall be accepted in such exchange or payment that is secured by the property of a smaller or different district, or other subdivision, than that securing the refunding bonds so issued.
Codes, Hemingway's 1921 Supp. § 6662j; 1930, § 5986; 1942, §§ 4346, 4361; Laws, 1920, ch. 207; Laws, 1932, ch. 167; Laws, 1934, ch. 143; Laws, 1936, ch. 279; Laws, 1938, Ex. ch. 74.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-11 - General obligations

All refunding bonds issued under the provisions of Sections
31-15-1
through
31-15-19
shall be general obligations of the political subdivisions issuing same, and the governing authority of such subdivision shall annually levy a tax upon all taxable property therein sufficient to pay the principal of and the interest on such bonds as the same matures and accrues. The full faith, credit, and resources of such subdivision shall be and are hereby irrevocably pledged to the payment of such bonds, both as to principal and interest.
Codes, 1942, § 4362; Laws, 1934, ch. 143.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-13 - Time limit

The governing authority may, at any time or times, exercise the powers granted by Sections
31-15-1
through
31-15-19
in the refunding of any or all of the bonds and interest coupons of any one (1) or more of the issues of bonds then outstanding. No refunding bonds shall be issued at any time after three (3) years from the date of the resolution or order providing therefor.
Codes, 1942, § 4363; Laws, 1934, ch. 143.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-15 - Invalid bonds

In the event that any of the refunding bonds authorized to be issued under Sections
31-15-1
through
31-15-19
should be declared by any court of competent jurisdiction to be invalid, the holder or holders thereof shall be subrogated to all of the rights, remedies, and privileges had and possessed by the holder or holders of the bonds or interest coupons refunded thereby.
Codes, 1942, § 4364; Laws, 1934, ch. 143.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-17 - Additional method

Sections
31-15-1
through
31-15-19
, without reference to any other statute, shall be deemed full and complete authority for the issuance of refunding bonds by political subdivisions of the state, and shall be construed as an additional and alternative method therefor. None of the present restrictions, requirements, conditions, or limitations of law applicable to the issuance of bonds by political subdivisions of this state shall apply to the issuance and sale or exchange of bonds under the aforesaid sections, and no proceedings shall be required for the issuance of such bonds other than those provided for and required herein. All powers necessary to be exercised by the governing authority of any such political subdivision in order to carry out the provisions of said sections are hereby conferred.
Codes, 1942, § 4365; Laws, 1934, ch. 143.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-19 - Validation

Any bonds issued under the provisions of Sections
31-15-1
through
31-15-19
may be validated under Sections
31-13-1
through
31-13-11
.
Codes, 1942, § 4366; Laws, 1934, ch. 143.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-21 - Refund of bonds not based on ad valorem tax

Any bonds heretofore or hereafter issued under authority of Sections
21-27-11
,
21-27-23
,
21-27-41
through
21-27-43
, or revenue bonds payable from funds other than the proceeds of ad valorem taxes heretofore or hereafter issued under authority of any other law of the State of Mississippi may be refunded upon surrender, whether such bonds are due, optional, or not yet matured. Such refunding bonds shall be negotiable, shall be authorized by resolution adopted by the board or governing body which shall have authorized the bonds that are being refunded, and may either be delivered in exchange for the bonds to be refunded or sold at not less than par and the proceeds applied to the retirement of such bonds.
Codes, 1942, § 4367; Laws, 1940, ch. 281.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-23 - Interest and form

Such refunding bonds may bear interest at such rate or rates not exceeding that allowed in Section
75-17-103
, shall mature at such time or times not exceeding thirty (30) years from their date, may be subject to redemption at such times and at such premiums, and shall be in such form and in all other respects be of such details and issued under such conditions as may be determined in the resolution authorizing the bonds.
Codes, 1942, § 4368; Laws, 1940, ch. 281; Laws, 1987, ch. 407, eff. 3/20/1987.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-25 - Security

Such refunding bonds shall be payable from the same sources of revenue and so far as possible shall be secured in the same manner and by the same covenants and agreements as were the bonds refunded. All provisions of the law under which the bonds refunded were issued, which provide for the security of such bonds and the requirements for fixing rates sufficient to operate the project acquired or improved and to pay principal of and interest on the bonds, shall remain in effect and shall be fully applicable to the refunding bonds issued hereunder. In no event shall taxes be levied for the payment of such bonds, and they shall recite on their face that they are payable only from revenues.
Codes, 1942, § 4369; Laws, 1940, ch. 281.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 15 - REFUNDING BONDS (§§ 31-15-1 — 31-15-27) › Section 31-15-27 - Validation

Refunding bonds issued under Sections
31-15-21
through
31-15-27
may be validated in the chancery court pursuant to the provisions of Sections
31-13-1
through
31-13-11
, and shall be exempt from all state, county, municipal, and other taxation under the laws of Mississippi.
Codes, 1942, § 4370; Laws, 1940, ch. 281.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › STATE BOND COMMISSION (§§ 31-17-1 — 31-17-5) › Section 31-17-1 - Composition of State Bond Commission

The State Bond Commission shall be composed of the Governor, the Attorney General, and the State Treasurer.
Codes, 1942, § 4380; Laws, 1936, ch. 196.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › STATE BOND COMMISSION (§§ 31-17-1 — 31-17-5) › Section 31-17-3 - General powers of State Bond Commission

The State Bond Commission, with the approval and consent of the State Auditor of Public Accounts and the chairman of the State Tax Commission, is hereby authorized to purchase outstanding bonds of the State of Mississippi, retire such bonds, and pay the purchase price thereof out of any surplus remaining in the state treasury at the end of any fiscal year, all in accord with the provisions of Sections
31-17-21
through
31-17-25
. The State Bond Commission, with the consent and approval of the state auditor of public accounts and the chairman of the State Tax Commission, shall determine the amount of bonds to be purchased, the maximum price to be paid therefor not to exceed par and accrued interest, and the date upon which it will receive proposals to purchase such bonds, all in accord with the provisions of Sections
31-17-21
through
31-17-25
.
Codes, 1942, § 4380; Laws, 1936, ch. 196.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › STATE BOND COMMISSION (§§ 31-17-1 — 31-17-5) › Section 31-17-5 - Requests for proposals for bond counsel and certain information about bond counsel once selected to be posted on Department of Finance and Administration and State Treasurer websites

(1)
When a request for proposals for bond counsel for a general obligation or revenue bond issue is issued on behalf of the State Bond Commission, the request for proposal shall be posted on the website of the Department of Finance and Administration and the State Treasurer.
(2)
Once bond counsel is selected for a bond issue, the name and address of the counsel selected shall be posted on the website of the Department of Finance and Administration and the State Treasurer. The amount of any payments made to bond counsel for his or her services as bond counsel shall be posted on the website of the Department of Finance and Administration and the State Treasurer.
Added by Laws, 2013, ch. 569, SB 2913, 42, eff. 4/25/2013.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › STATE BOND RETIREMENT COMMISSION (§§ 31-17-11 — 31-17-13) › Section 31-17-11 - Composition of state bond retirement commission

There is hereby created the state bond retirement commission which shall be composed of the Governor, the Attorney General, and the State Treasurer. The Governor shall be the chairman of the commission, and the Attorney General shall be the secretary thereof.
Laws, 1944, ch. 140, § 1, eff. 4/4/1944.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › STATE BOND RETIREMENT COMMISSION (§§ 31-17-11 — 31-17-13) › Section 31-17-13 - General duties of state bond retirement commission

It shall be the duty of the state bond retirement commission to administer the state bond retirement revolving fund provided for in Section
31-17-27
, and to perform such other duties as may be prescribed in Sections
31-17-27
through
31-17-43
.
Laws, 1944, ch. 140, § 1, eff. 4/4/1944.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-21 - State bonds; notice of intention to purchase

In the event it is determined to purchase outstanding bonds of the state as provided in Section
31-17-3
, then sixty (60) days prior to the date fixed for the sale of said bonds, the state bond commission shall advertise its intention to purchase the bonds of the state for at least two (2) consecutive weeks in two (2) newspapers, one (1) of which shall be published in Jackson, Mississippi, and the other a financial journal having general circulation among bond buyers and dealers. Said advertisement shall state the amount of bonds to be purchased, the maximum price to be paid therefor, and the date upon which it will receive sealed proposals for outstanding bonds of the State of Mississippi.
Codes, 1942, § 4381; Laws, 1936, ch. 196.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-23 - State bonds; best bid accepted

The State Bond Commission shall accept the bid or bids determined by it to be most favorable to the state. The interest rate and maturity of the bonds to be purchased shall be taken into consideration in determining the best bid.
Codes, 1942, § 4382; Laws, 1936, ch. 196.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-25 - State bonds; purchase of bonds sold below par

Where the bonds of the state were sold for less than par and accrued interest, then the State Bond Commission shall not pay a greater price than the price for which the bonds were sold.
Codes, 1942, § 4383; Laws, 1936, ch. 196.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-27 - State bonds; state bond retirement revolving fund

There is hereby created a fund in the State Treasury only to the extent herein provided, to be known as the "state bond retirement revolving fund," to be kept separate and distinct from all other funds of the state. Said state bond retirement revolving fund shall consist of such sums as may be appropriated thereto in accordance with law, all sums received from the sale of any bonds as hereinafter provided, all funds received from the payment of either principal or interest on such bonds, and all sums transferred to it or otherwise received and covered into said fund under the provisions of Sections
31-17-27
through
31-17-43
. It shall be the duty of the state bond retirement commission, and it is hereby authorized and empowered, to make all needful rules and regulations not inconsistent with the provisions of said sections and which in the discretion of the commission may be necessary or advisable in the administration of the provisions of said sections. The state bond retirement revolving fund hereby created shall be a special trust fund irrevocably pledged to the ultimate retirement of all outstanding full faith and credit bonds of the State of Mississippi as hereinafter provided.
Laws, 1944, ch. 140, § 2, eff. 4/4/1944.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-29 - State bonds; funds in state bond retirement revolving fund may be invested in federal securities

Until such funds are needed for the payment of outstanding full faith and credit bonds of the state as herein provided, the state bond retirement commission is hereby authorized to invest any funds held in the state bond retirement revolving fund in bonds, notes, certificates, and other interest bearing obligations which are a direct obligation of the United States of America, hereinafter referred to as federal securities.
Any federal securities so purchased shall be the property of the State of Mississippi, and the principal and any and all interest accruing on such federal securities shall be collected by the commission as an agency of the state and covered into the state bond retirement revolving fund as the same shall mature and accrue. The commission is hereby authorized to sell any federal securities belonging to the state bond retirement revolving fund whenever, in the judgment of the commission, such sale will be to the best interest of the state. Sales shall be made at the best price obtainable, and all funds realized therefrom shall be covered into the state bond retirement revolving fund.
Laws, 1944, ch. 140, § 3, eff. 4/4/1944.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-31 - State bonds; deposit of federal securities

All sums paid into the state bond retirement revolving fund shall be kept by the State Treasurer as are other public funds. All federal securities purchased under the provisions of Section
31-17-29
shall be deposited with the State Treasurer and shall be kept by him as are other bonds owned by the state, but he may deposit same under proper trust receipts with one or more state depositories or with any federal reserve bank of the United States.
Laws, 1944, ch. 140, § 8; Laws, 1944, ch. 141, § 1, eff. 2/24/1944.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-33 - State bonds; method of retirement by state bond retirement commission

The purpose of Sections
31-17-27
through
31-17-43
is to create a fund for the ultimate retirement of the full faith and credit bonds of the State of Mississippi issued and outstanding as of July 1, 1944, and to set aside, earmark, and irrevocably pledge from the cash now in or to be added to the general fund of the state treasury a sum sufficient to pay all outstanding full faith and credit bonds of the State of Mississippi. To that end, therefore, not less than fifteen (15) days prior to each maturity date of full faith and credit bonds authorized to be retired from funds in the state bond retirement revolving fund under the provisions of said sections, an amount sufficient to pay the principal thereof at such maturity date shall be made available by the state bond retirement commission and shall be withdrawn from the state bond retirement revolving fund upon the order of the commission for the payment thereof, as provided by law. This process shall continue and like withdrawals shall be made at each succeeding maturity date of full faith and credit bonds authorized to be retired from funds in the state bond retirement revolving fund until the said state bond retirement revolving fund shall be exhausted or until all full faith and credit bonds of the state outstanding at July 1, 1944, shall be fully paid and satisfied. When all such bonds are paid, any balance remaining in said state bond retirement revolving fund shall be transferred to the general fund of the state.
Laws, 1944, ch. 140, § 4, eff. 4/4/1944.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-35 - State bonds; maturity dates to be noted

To effectuate the purpose of Sections
31-17-27
through
31-17-43
, the state bond retirement commission is hereby required to take cognizance of the maturity date of the full faith and credit bonds of the state issued and outstanding as of July 1, 1944, and shall invest the funds constituting the state bond retirement revolving fund in United States government securities having maturity dates that bear a reasonable relation to the maturity dates of the full faith and credit bonds of the state to be retired from funds constituting the said state bond retirement revolving fund.
Laws, 1944, ch. 140, § 5, eff. 4/4/1944.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-37 - State bonds; procedure when funds of state bond retirement revolving fund are inadequate to meet payments

Should the maturity dates of federal securities held by the state bond retirement commission fail to coincide with the maturity dates of the full faith and credit bonds of the state to the extent that the funds belonging to the state bond retirement revolving fund shall be inadequate to pay the principal of full faith and credit bonds on any maturity date as required by the terms of Sections
31-17-27
through
31-17-43
, then in such event the commission is hereby authorized and directed to either sell a sufficient amount of its securities to realize the amount necessary to pay the principal of such maturing bonds or borrow from other sources an amount necessary to provide the funds with which to make such payment, at the lowest and best rate of interest obtainable, after having publicly advertised for bids. The commission shall not pay a higher rate of interest than two percent (2%) for such loans. Such loans shall be evidenced by notes signed in the name of the State of Mississippi by the commission. No such loan shall be made unless there are federal securities held by the commission maturing not later than two (2) years next after the date of the note evidencing the loan, which said federal securities so held, together with the interest thereon, shall be sufficient in amount to retire the said loan and the interest thereon. In no event shall any federal securities held by the commission under the terms of said sections be pledged, hypothecated, or otherwise given as security for any such loan. The chairman of the commission shall accompany each note evidencing funds borrowed with his certificate showing in detail the federal securities held by the commission, the proceeds of which are to be used for the retirement of the said loan. When such certificate shall show that as of the date of any such loan, there was then held by the commission federal securities the par value of which, together with the interest thereon, shall equal or exceed the full amount of the loan covered thereby, such loan shall be in all respects a valid, binding obligation of the State of Mississippi, and shall be promptly paid according to its tenor by the commission.
Laws, 1944, ch. 140, § 6, eff. 4/4/1944.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-39 - State bonds; expenditures from and transfer of state bond retirement revolving fund

All sums paid into and actually in the state bond retirement revolving fund, including the original legislative appropriation, the proceeds from federal securities sold under the provisions of Sections
31-17-27
through
31-17-43
, and sums received from the payment of either principal or interest on federal securities purchased hereunder, shall be continuously available to the state bond retirement commission for expenditure or transfer in accordance with the provisions and to carry out the purpose of said sections without the necessity of further appropriation by the Legislature. All such sums shall be considered in the State Treasury only for the purpose and to the extent necessary to make them public funds and subject to the same protection as other public funds. These funds shall be paid out or transferred as provided herein on warrants issued according to law, pursuant to requisitions signed by the chairman and secretary of the commission, on authority of the commission.
Laws, 1944, ch. 140, § 7, eff. 4/4/1944.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-41 - State bonds; records and reports of state bond retirement commission

The state bond retirement commission shall keep full and accurate minutes of its proceedings. Full and complete records of all transactions made under the authority of Sections
31-17-27
through
31-17-43
and of all sums received into and disbursed from said state bond retirement revolving fund shall be kept by the secretary; and an annual report thereof shall be made by the commission, which shall be filed in the office of the Secretary of State and be subject to public inspection. A full report of such transactions and of all such receipts and disbursements shall be made to each regular session of the legislature.
Laws, 1944, ch. 140, § 9, eff. 4/4/1944.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-43 - State bonds; expenses of state bond retirement commission

The state bond retirement commission shall pay the necessary expenses incurred in carrying out the provisions of Sections
31-17-27
through
31-17-43
out of any appropriation made for that purpose by the Legislature.
Laws, 1944, ch. 140, § 10, eff. 4/4/1944.
Mississippi Code 1972 (2023) › Title 31 - PUBLIC BUSINESS, BONDS AND OBLIGATIONS (§§ 31-1-1 — 31-31-41) › Chapter 17 - STATE BONDS; RETIREMENT OF BONDS (§§ 31-17-1 — 31-17-181) › RETIREMENT OF BONDS (§§ 31-17-21 — 31-17-61) › Section 31-17-45 - Local bonds; repurchase authorized

The board of supervisors of any county in this state, the mayor and board of aldermen of any municipality in this state, or the governing body of any other taxing district in the state may, in its discretion, purchase outstanding bonds of said county, municipality, or other taxing district and retire such bonds and pay the purchase price thereof out of any surplus remaining in the treasury of such county, municipality, or other taxing district at the end of any fiscal year. The governing body of said taxing districts shall determine the amount of bonds to be purchased, the maximum price to be paid therefor, but in no event to exceed par and accrued interest thereon, and the date upon which it will receive proposals to purchase said bonds.
Codes, 1942, § 4371; Laws, 1934, ch. 334.