37-104-29 - Liability of state on bonds.
§ 37-104-29. Liability of state on bonds.
Revenue bonds issued under the provisions of this chapter shall not be deemed to constitute a debt of the State of Mississippi or a pledge of the faith and credit of the state, but such bonds shall be payable solely from the sinking fund provided therefor, as hereinafter established in Section 37-104-31. The issuance of such revenue bonds shall not directly, indirectly or contingently obligate the state to levy or pledge any form of taxation whatever therefor, and all such revenue bonds shall contain recitals on their face substantially covering the foregoing provisions of this section.
Sources: Laws, 1985, ch. 480, § 15; reenacted, 1991, ch. 592, § 15; reenacted, 1993, ch. 520, § 15, eff from and after July 1, 1993.