State Codes and Statutes
Statutes > Mississippi > Title-51 > 8 > 51-8-39§ 51-8-39. Sale of bonds; interest rates; refunds; validation.
The bonds issued under this chapter shall be sold for not less than par value plus accrued interest at public sale in the manner provided for in Section 31-19-25, Mississippi Code of 1972; however, bonds may be sold to the United States of America or an agency or instrumentality thereof at private sale.
Each interest rate specified in any bid must be in multiples of either one-tenth of one percent (1/10 of 1%) or one-eighth of one percent (1/8 of 1%), and a zero rate of interest cannot be named.
Any revenue bonds issued under the provisions of this chapter may be refunded in like manner as revenue bonds of municipalities shall be refunded.
Any bonds issued under the provisions of this chapter shall be submitted to validation under the provisions of Sections 31-13-1 through 31-13-11.
Sources: Laws, 1985, ch. 481, § 20, eff from and after July 1, 1985.
