37-101-315 - Liability of state on bonds.
§ 37-101-315. Liability of state on bonds.
The bonds issued under the provisions of Sections 37-101-301 through 37-101-331 shall be general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi are hereby irrevocably pledged. If the funds appropriated by the Legislature 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, 1988, ch. 510, § 8, eff from and after passage (approved May 12, 1988).