37-47-35 - Request for issuance of bonds. - Mississippi Statutes

§ 37-47-35. Request for issuance of bonds.
 

Before any state school bonds are issued as authorized by this chapter, the state educational finance commission shall transmit to the state bond commission a request for the issuance thereof in the form of a resolution adopted by said state educational finance commission. Said request shall embody the following: 
 

(a) A schedule showing the aggregate of bonds issued pursuant to previous requests, the purposes for which the same were issued, the annual payments required to retire such bonds and the interest thereon, and the amount of sinking fund applicable to the retirement of such outstanding bonds; 

(b) The amount of bonds sought to be issued, the purpose or purposes for which such bonds are to be issued, and the amount intended for each purpose; 

(c) A schedule showing future annual principal requirements and estimated annual interest requirements on the bonds requested to be issued; 

(d) The estimated amount of the advances which the commission intends to make within the then current fiscal year; 

(e) The aggregate amount for which advances have been approved, but which await completion because the funds necessary to make the same are not available; 

(f) The aggregate amount of certificates of credit issued to school districts which are to be paid or redeemed by the commission with the proceeds of such bonds and for which no funds are otherwise available. 
 

Sources: Codes, 1942, § 6247-11; Laws,  1953, Ex Sess, ch. 13, § 11, eff from and after July 1, 1954.