51-15-136 - Borrowing money or issuance of bonds after April 6, 1995.
§ 51-15-136. Borrowing money or issuance of bonds after April 6, 1995.
From and after April 6, 1995, the board of directors shall not borrow money or issue bonds of the district unless sixty percent (60%) of the entire membership of the board of directors votes in favor of such action after thirty (30) days' written notice to the chancery clerks and presidents of the boards of supervisors of the member counties of the date upon which such vote will be taken. Further, the board shall not borrow money or issue bonds of the district from April 6, 1995, through February 1, 1996.
Sources: Laws, 1995, ch. 559, § 6, eff from and after passage (approved April 6, 1995).