59-7-421 - Mortgage or deed of trust securing bonds.
§ 59-7-421. Mortgage or deed of trust securing bonds.
Any municipality issuing bonds or other obligations pursuant to this article by resolution or resolutions duly adopted, is hereby given authority to execute and deliver a mortgage or deed of trust, in such form, with such validity and with such remedies as at present authorized under the laws of the State of Mississippi, on any or all properties, improvements and facilities, the acquisition, construction, maintenance and/or operation of which are provided for by this article. Such resolution or resolutions of said municipality shall prescribe the provisions, covenants and conditions of any such mortgage or deed of trust. Such provisions, covenants and conditions, if not self-executing, may be enforced by appropriate proceedings, either in law or in equity.
Sources: Codes, 1942, § 7603; Laws, 1940, ch. 290.