As Amended
SEC. 29-17-31. Attorney's fees; officials not to profit from issuance of bonds; selection of bond attorneys.
(1) Any attorney's fees paid as the result of the issuance of bonds under this chapter shall be in compliance with the limits on attorney's fees for bond issues as adopted by the State Bond Commission. Attorney's fees paid as the result of the issuance of bonds under this chapter shall be subject to negotiation but in no event shall exceed the limits established by the State Bond Commission. A detailed accounting of all expenses incurred by all persons, firms, corporations, associations or other organizations involved in such bond issues shall be submitted to the State Bond Commission within ninety (90) days after the issuance of such bonds and shall be a matter of public record.
(2) No member of the Legislature, elected official or appointed official, or any partner or associate of any member of the Legislature, elected official or appointed official, shall derive any income from the issuance of any bonds or the disposition of any property under this act contrary to the provisions of Section 109, Mississippi Constitution of 1890, or Article 3, Chapter 4, Title 25, Mississippi Code of 1972.
(3) In connection with the issuance and sale of bonds authorized under this chapter, the State Bond Commission shall select a bond attorney or attorneys who are listed in the "Directory of Municipal Bond Dealers of the United States" and who are members in good standing of the Mississippi State Bar Association and licensed to practice law in the State of Mississippi; however, upon a finding by the commission spread on its official minutes that the public interest will best be served thereby, the commission may select any bond attorney or attorneys listed in the "Directory of Municipal Bond Dealers of the United States."
SOURCES: Laws, 1990, ch. 581, Sec. 16, eff from and after passage (approved April 9, 1990).