65-23-313 - Application of bond proceeds. - Mississippi Statutes

§ 65-23-313. Application of bond proceeds.
 

All moneys received from any bridge revenue bond issued pursuant to this article shall be applied solely to the payment of the cost of the bridge or bridges, or to the appurtenant sinking fund, and there is hereby created and granted a lien upon such moneys until so applied, in favor of the holders of such bonds or the trustee hereinafter provided in respect of such bonds. 
 

Sources: Codes, 1942, § 8447-57; Laws,  1964, ch. 277, § 7, eff from and after passage (approved June 6, 1964).