SEC. 51-35-181. May borrow money to acquire land.
The commissioners may, in their judgment and discretion, borrow money with the approval of the chancellor for the location and relocation of highways, for any necessary purchases of lands, for the purchase of lands and easements necessary to the construction of levees and drainage ditches, all alterations of highways made necessary because of the construction of levees and drainage ditches, and all damages because of such highway alterations, to be repaid not later than ten years and at a rate of interest not exceeding six percent (6%) per annum, and may issue negotiable notes or bonds or other obligations of the district therefor, which said notes, bonds, or other obligations shall mature in equal annual installments.
SOURCES: Codes, 1942, Sec. 4808; Laws, 1936, ch. 188, Sec. 38; 1938, ch. 343, Sec. 6; 1946, chs. 270, Sec. 3, 300, Sec. 2.
1997 Amendment
SECTION 11. Sections 51-35-147, 51-35-149, 51-35-151, 51-35-153, 51-35-155, 51-35-157, 51-35-159, 51-35-161, 51-35-163, 51-35-165, 51-35-167, 51-35-169, 51-35-171, 51-35-173, 51-35-175, 51-35-177, 51-35-179, 51-35-181, 51-35-183, 51-35-185, 51-35-187, 51-35-189, 51-35-191 and 51-35-193, Mississippi Code of 1972, which authorize the use of bonds and warrants, create an executive committee of the board, define the liability of a commissioner, require the adoption and allow the alteration of a flood control plan, authorize the board to charge preliminary expenses against property, to enter onto property, to acquire lands, to cooperate in the construction and maintenance of and to construct certain structures, to exercise eminent domain rights, to enlarge or combine districts, to borrow money for certain purposes and to fix, levy and provide for the collection of ad valorem taxes for certain purposes, allow sale of property for delinquent taxes, provide for an appeal from actions under this article, and authorize hearings before a special commissioner appointed by the chancellor, reimbursement of expenses of a chancellor and acceptance of reimbursements for amounts advanced for expenditure under an official plan, are repealed.
SOURCE: 1997 Laws, Chapter 403, Sec. 11, SB2937, Effective July 1, 1997.