As Amended
SEC. 51-21-14. Issuance of bonds; levy of special tax.
The board of supervisors of any county situated within the Lower Mississippi River Basin Development District is hereby authorized and empowered to issue negotiable bonds of the county to raise money for all of the purposes for which the district is created. All such bonds shall be issued and sold pursuant to section 19-9-1, et seq.
In addition to the authority to issue bonds as hereinabove provided, the board of supervisors shall have the authority to annually levy a special tax, not to exceed two (2) mills, upon all of the taxable property within the county; the avails of such special levy shall be used exclusively for the payment of the principal of and interest on such bonds as may be issued. Such levy shall not be reimbursable under any homestead exemption law.
SOURCES: Laws, 1974, ch. 518 Sec. 2, eff from and after passage (approved April 4, 1974).
1997 Amendment:
SECTION 5. Sections 51-21-1, 51-21-3, 51-21-5, 51-21-7, 51-21-9, 51-21-11, 51-21-13 and 51-21-14, Mississippi Code of 1972, which establish legislative intent and policy for the Lower Mississippi River Basin Development District, authorize the organization of the district and specify which counties may become part of the district, and provide for a board of directors, creation of the district, powers and duties of the district and issuance of bonds and levy of special tax by the district, are repealed.
SOURCE: 1997 Laws, Chapter 403, Section 5, SB2937, Effective July 1, 1997.