59-7-423 - Applicability of municipal debt limitations to bond issues; funds from which bonds payable. - Mississippi Statutes

§ 59-7-423. Applicability of municipal debt limitations to bond issues; funds from which bonds payable.
 

The bonds or other obligations issued by any municipality of the State of Mississippi pursuant to this article shall not constitute a debt within the meaning of any statutory limitation as to the amount of debt which may be incurred by any such municipality, nor shall such bonds or other obligations be payable out of any funds other than the revenue collected or collectible from the use of said docks, harbors and facilities of whatsoever nature, and out of the receipts the said one mill ad valorem tax, in accordance with the provisions of Section 59-7-403. 
 

Sources: Codes, 1942, § 7596; Laws,  1940, ch. 290.