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Miss. Code Ann. § 57-67-27

Security for payment of bonds

Known as the Mississippi Superconducting Super Collider Act

The act spans §§ 57–57 (20 sections).

Laws, 1987 Ex Sess, ch. 24, § 14, eff from and after passage (approved August 29, 1987

The authority may, in any authorizing resolution, trust indenture or other security instrument relating to its bonds, provide for the appointment of a trustee who shall have such powers as are provided therein to represent the registered owners of any issue of bonds in the enforcement or protection of their rights under any such resolution, trust indenture or security instrument. The authority may also provide in such resolution, trust indenture or other security instrument that the trustee, or in the event that the trustee so appointed shall fail or decline to so protect and enforce such registered owners’ rights then such percentage of registered owners as shall be set forth in, and subject to the provisions of, such resolution, trust indenture or other security interest, may petition the court of proper jurisdiction for the appointment of a receiver of the revenues which are pledged to the payment of the principal of and interest on the bonds of such registered owners. Such receiver may exercise any power as may be granted in any such resolution, trust indenture or security instrument to collect, enforce and receive all revenues derived from agreements with any public agency or political subdivisions entered pursuant to Section 57-67-17, and carry out the contracts and obligations of the authority in the same manner as the authority itself might do, all under the direction of such court.

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.