Mississippi § 37-29-425 - Borrowing in anticipation of taxes.
Full text of Mississippi Mississippi Code of 1972 Annotated § 37-29-425 — Borrowing in anticipation of taxes., with citation guidance and answers to common questions.
§ 37-29-425. Borrowing in anticipation of taxes.
The board of trustees of the Mississippi Gulf Coast Junior College District may borrow money in anticipation of taxes not to exceed fifty percent (50%) of the previous year’s ad valorem tax receipts for the purpose of paying any expenses authorized by law for the operation, maintenance and support of the colleges. The loan shall be evidenced by note or notes bearing the signature of the president and of the secretary of the board of trustees and the seal of the college shall be thereon impressed. Said notes shall mature not later than the first day of April next thereafter and the same shall not bear interest in excess of that allowed in Section 75-17-105, Mississippi Code of 1972.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 37-29-425
What does Mississippi Code of 1972 Annotated § 37-29-425 cover?
Section 37-29-425 ("Borrowing in anticipation of taxes.") 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 § 37-29-425?
A common citation format is "Mississippi Code of 1972 Annotated § 37-29-425" (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 § 37-29-425 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.