31-31-25 - Pledge of full faith and credit of state for payment of bonds. - Mississippi Statutes

§ 31-31-25. Pledge of full faith and credit of state for payment of bonds.
 

The bonds issued under the provisions of this chapter are general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi is irrevocably pledged. If the funds appropriated by the Legislature are insufficient to pay the principal of and the interest on such bonds as 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,  1995, ch. 628, § 13, eff from and after July 1, 1995 (became law without the Governor's signature).