55-7-33 - Issuance of bonds by commission generally. - Mississippi Statutes

§ 55-7-33. Issuance of bonds by commission generally.
 

For the purpose of providing funds for the corporate purposes of the bridge and park commission, the commission shall have power to borrow money and to issue its bonds in evidence thereof, payable from the income and revenues derived and to be derived from the operation of any of the facilities acquired, owned and operated by the commission, including, without limiting, the generality of the rates, fees, charges and tolls to be charged for the use of any bridge or causeway or for the service and use of any facility operated by the commission, from any sums received from concessionaires and lessees, and from any sums received from the sale, lease or rental of real estate. Any indebtedness so created or any bonds so issued shall not become an obligation or liability of the municipality or of the county nor shall the power of taxation of said city or said county be pledged to the payment thereof nor shall any of the funds of the municipality or county be used or expended for the payment of any such bonds either as to principal or interest, except as hereafter set forth in this chapter. No limitations of indebtedness upon the issuance of bonds by any political subdivision, municipal corporation or county in the State of Mississippi shall apply to the bonds hereby authorized. 
 

Sources: Codes, 1942, § 5974-06; Laws,  1960, ch. 434, § 6; Laws, 1962, ch. 216, § 3, eff from and after passage (approved June 1, 1962).