65-4-37 - Disbursement of proceeds; payment of costs.
§ 65-4-37. Disbursement of proceeds; payment of costs.
(1) Upon the issuance and sale of bonds under Sections 65-4-25 through 65-4-45, the State Bond Commission shall transfer the proceeds of any such sale or sales to the Economic Development Highway Fund. The proceeds of such bonds shall be disbursed solely upon the order of the Executive Director of the Mississippi Department of Economic Development under such restrictions, if any, as may be contained in the resolution providing for the issuance of the bonds.
(2) The State Bond Commission is authorized to pay the costs that are incident to the sale, issuance and delivery of the bonds authorized under Sections 65-4-25 through 65-4-45 from the proceeds derived from the sale of such bonds.
Sources: Laws, 1989, ch. 463, § 7, eff from and after passage (approved March 27, 1989).