Whenever bonds shall be issued for the construction or purchase of waterworks, gas, light and power plants, or distribution systems, the governing authorities of the municipality so issuing them may provide by ordinance, contract or otherwise, that such bonds shall be secured by a pledge of the revenue of the utility to be constructed or purchased with the proceeds thereof, which pledge of revenue shall be in addition to the pledge of the full faith and credit of such municipality.
Miss. Code Ann. § 21-33-305
Revenues of public utilities may be pledged for payment of bonds
Codes, Hemingway’s 1917, § 5973; 1930, § 2486; 1942, § 3598-03; Laws, 1914, ch. 147; Laws, 1950, ch. 493, § 3, eff from and after July 1, 1950.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.