55-23-31 - Security for payment of bonds. - Mississippi Statutes

§ 55-23-31. Security for payment of bonds.
 

The bonds issued under the provisions of Sections 55-23-21 through 55-23-43 shall be payable from the Mississippi Veterans Memorial Stadium Bond Sinking Fund and shall be the general obligations of the State of Mississippi and backed by the full faith and credit of the State of Mississippi, and if the funds available in the Mississippi Veterans Memorial Stadium Bond Sinking Fund be 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 foregoing provisions of this section. 
 

Sources: Laws,  1979, ch. 360, § 6; Laws, 1989, ch. 548, § 5, eff from and after passage (approved April 19, 1989).