Mississippi § 29-3-163 - Payments on bonds when net revenues are insufficient.
Full text of Mississippi Mississippi Code of 1972 Annotated § 29-3-163 — Payments on bonds when net revenues are insufficient., with citation guidance and answers to common questions.
§ 29-3-163. Payments on bonds when net revenues are insufficient.
In the event net revenues of the project are insufficient to pay fully the principal and interest on bonds when due, the authority is hereby specifically authorized to pay, and shall pay, all or the remainder of said principal and interest from rental income. The county school board and the trustees of the municipal separate school district are hereby specifically authorized to pay, and shall pay, to the authority, if necessary, such sums as are sufficient to pay all or the remainder of said principal and interest from rental income, and the part of such sum to be paid by the said county school board and the trustees of the municipal separate school district, respectively, to the authority for this purpose shall be determined by the percentage of revenue from the sixteenth section, or lands granted in lieu thereof, to be developed by the authority which each received in the most prior year of receipt.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 29-3-163
What does Mississippi Code of 1972 Annotated § 29-3-163 cover?
Section 29-3-163 ("Payments on bonds when net revenues are insufficient.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 29-3-163?
A common citation format is "Mississippi Code of 1972 Annotated § 29-3-163" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 29-3-163 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.