SEC. 37-151-41. Bonds are general obligations of state.
The bonds issued under the provisions of Sections 37-151-27 through 37-151-61 are general obligations of the State of Mississippi, and for the payment of the bonds the full faith and credit of the State of Mississippi is irrevocably pledged. The Legislature shall appropriate funds from the Education Enhancement Fund as necessary to pay the principal of and interest on such bonds, and if the funds appropriated by the Legislature are insufficient to pay the principal of and the interest on such bonds when they become due, then the deficiency shall be paid by the State Treasurer from any funds in the State Treasury not otherwise appropriated. All such bonds shall contain recitals on their faces substantially covering the provisions of this section.
SOURCES: Laws, 1994, ch. 581, Sec. 31, eff from and after July 1, 1994