SEC. 51-23-35. Refunding bonds.

The board of directors of the district is hereby authorized to provide by resolution for the issuance of refunding bonds of the district for the purpose of refunding any bonds then outstanding and issued under authority of this chapter, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds. The issuance of such refunding bonds, the maturity and other details thereof, and the rights, duties, and obligations of the board of trustees and of the district in respect to such bonds shall be governed by the provisions of this chapter, insofar as they are applicable. In no event shall such bonds mature over a period of time exceeding thirty years from the date of issuance.

SOURCES: Codes, 1942, Sec. 5956-374; Laws, 1968, ch. 268, Sec. 8, eff from and after passage (approved August 7, 1968).

1997 Amendment

 SECTION 8. Sections 51-23-19, 51-23-21, 51-23-23, 51-23-25, 51-23-27, 51-23-29, 51-23-31, 51-23-33, 51-23-35, 51-23-37, 51-23-39, 51-23-41, 51-23-43, 51-23-45, 51-23-47 and 51-23-49, Mississippi Code of 1972, which place certain requirements on the issuance of construction contracts, authorize the district to provide park and recreation facilities, authorize the board of directors to adopt rules and regulations and to designate depositories for district funds, authorize the board of directors to issue bonds and notes, provide for a limitation on the amount on and for validation of bonds and notes, authorize the board of directors to enter into trust agreements and to issue refunding bonds, declare bonds as legal investments, provide for certain agreements, cooperation with other government agencies and severability, exempt the district and its bonds from taxation and provide the intent of the Legislature regarding overflow of school lands, are repealed.

SOURCE: 1997 Laws, Chapter 403, Sec. 8, SB2937, Effective July 1, 1997.