49-28-25 - Purposes for which special improvement bond issued; district empowered to do any act to secure bonds or make them more marketable. - Mississippi Statutes

§ 49-28-25. Purposes for which special improvement bond issued; district empowered to do any act to secure bonds  or make them more marketable.
 

In addition to the purposes authorized by Section 49-28-23, any district created under this chapter may issue negotiable special improvement bonds of the district in the manner provided in Section 49-28-23, for any of the following purposes: 
 

(a) To refund the outstanding bonds of the district upon a finding by the board of commissioners that the refunding is in the public interest; 

(b) To improve or extend the structures or facilities of the district or to conduct projects of the district; and 

(c) To enter into cooperative agreements with the state or federal government, or both, to obtain financial assistance in the form of loans or grants as may be available from the state or federal government, or both (reference to the state or federal government as used in this section shall specifically include any agency thereof). 
 

The district may make any covenants and do any acts and things as may be necessary, convenient and desirable to secure the bonds or make the bonds more marketable, notwithstanding that the covenants, acts or things may not be enumerated in this chapter or expressly authorized in this chapter. The board of commissioners, in issuing the negotiable special improvement bonds, shall have the power to do all things required or necessary in the issuance of those bonds and for their execution which are not inconsistent with the Mississippi Constitution of 1890. 
 

Sources: Laws, 1999, ch. 566, § 13, eff from and after passage (approved Apr. 21, 1999.)