No bond issued under Sections 69-2-19 through 69-2-39 of this chapter shall bear more than one (1) rate of interest; each bond shall bear interest from its date to its stated maturity date at the interest rate specified on the bonds; and all bonds of the same maturity shall bear the same rate of interest from date to maturity. All interest accruing on bonds shall be payable semiannually or annually, except the first interest coupon attached to any bond may be for any period not exceeding one (1) year. If bonds are issued in coupon form, no interest payment shall be evidenced by more than one (1) coupon, and neither cancelled nor supplemental coupons shall be permitted. If serial bonds, such bonds shall mature annually, and the first maturity date thereof shall not be more than five (5) years from the date of such bonds.
Miss. Code Ann. § 69-2-25
Interest and interest rates on bonds
Known as the Mississippi Farm Reform Act
The act spans §§ 69–69 (25 sections).
Laws, 1987, ch. 482, § 13; Laws, 1993, ch. 472, § 3; Laws, 2009, ch. 557, § 34; Laws, 2011, ch. 431, § 8, eff from and after passage (approved Mar. 16, 2011.
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.