Indebtedness incurred as a loan under the provisions of this chapter shall not exceed five (5) years from the date of the contribution by the state, and any such indebtedness shall be repaid in equal annual installments. Any indebtedness incurred as a loan under the provisions of this chapter shall not be included in computing the debt limit under any other statute.
Miss. Code Ann. § 57-4-11
Length of indebtedness incurred as loan; repayment in equal annual installments; applicability of debt limitation
Laws, 1977, ch. 492, § 1(6), eff from and after passage (approved April 15, 1977
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.