31-27-3 - Definitions. - Mississippi Statutes

§ 31-27-3. Definitions.
 

The following terms whenever used or referred to in this chapter shall have the following meaning, unless a different meaning appears from the context: 
 

(a) "Bond" or "bonds" means every duly authorized, executed and delivered instrument evidencing an obligation incurred by a governmental unit for the payment or repayment of money, which obligation matures more than one (1) year from the date of said instrument. The terms "bond" or "bonds" shall also include refunding bonds. 

(b) "Governing body" means the duly elected or appointed legislative body of a political subdivision or such other body which is charged by law with governing the political subdivision. As to the state, the term "governing body" means the State Bond Commission. 

(c) "Holder of bonds" or "bondholder" or any similar term means any person who shall be the bearer of any bond or bonds registered to bearer or not registered, or the registered owner of any such bond or bonds which shall at the time be registered other than to bearer. 

(d) "Law" means any act or statute, general, special or local, of this state; 

(e) "Governmental unit" means the State of Mississippi, any county, municipality, school district, special services district, or any other district, commission, board, corporation, agency, levee district, drainage district, department, authority or political subdivision of this state; 

(f) "Refunding bonds" means bonds issued under this chapter; 

(g) "Resolution" means a resolution, ordinance, act, record of minutes, or other appropriate enactment of a governing body; and 

(h) "State" means the State of Mississippi. 
 

Sources: Laws,  1987, ch. 429, § 2, eff from and after passage (approved March 30, 1987).