Authorization of issuance of general obligation bonds for construction, equipping and furnishing of telecommunication conference and training facility; advertisement and sale of bonds; limitation on indebtedness

  1. Law
  2. Mississippi Code
  3. Public Business, Bonds and Obligations
  4. Mississippi Telecommunications Conference and Training Center
  5. Authorization of issuance of general obligation bonds for construction, equipping and furnishing of telecommunication conference and training facility; advertisement and sale of bonds; limitation on indebtedness

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  1. Upon receipt of (a) a resolution from the Mississippi Telecommunication Conference and Training Facility Commission stating that the commission is ready to proceed with the planning and construction of a telecommunication conference and training facility to be located in the City of Jackson, Mississippi, (b) a resolution from the City of Jackson stating that the tax authorized pursuant to Section 31-31-11 has been levied, and (c) a determination by the Department of Economic and Community Development that a business plan for the operation of the facility that has been submitted to such department by the Mississippi Telecommunication Conference and Training Center Commission is feasible, the Department of Finance and Administration, at one time or from time to time, may declare by resolution the necessity for issuance of general obligation bonds of the State of Mississippi to provide funds for construction, equipping and furnishing a telecommunication conference and training facility and for the purchase of land in the City of Jackson, Mississippi, on which to construct such facility.
  2. Upon the adoption of a resolution by the Department of Finance and Administration, declaring the necessity for the issuance of any part or all of the general obligation bonds authorized by this section, the department shall deliver a certified copy of its resolution or resolutions to the State Bond Commission. Upon receipt of such resolution, the State Bond Commission, in its discretion, may act as the issuing agent, prescribe the form of the bonds, advertise for and accept bids, issue and sell the bonds so authorized to be sold, and do any and all other things necessary and advisable in connection with the issuance and sale of such bonds.
  3. The amount of bonds issued under this chapter shall not exceed Seventeen Million Five Hundred Thousand Dollars ($17,500,000.00).


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