Mississippi § 57-41-9 - Sources for payment of notes; liability of municipality; negotiability of notes.
Full text of Mississippi Mississippi Code of 1972 Annotated § 57-41-9 — Sources for payment of notes; liability of municipality; negotiability of notes., with citation guidance and answers to common questions.
§ 57-41-9. Sources for payment of notes; liability of municipality; negotiability of notes.
All notes issued by a municipality under authority of this chapter shall be limited obligations of the municipality, the principal of, redemption premium, if any, and interest on which shall be payable solely from revenues received by the municipality pursuant to the loan agreement or pursuant to notes and deeds of trust delivered to the municipality and from such other funds as may be made available to the municipality for such purpose by the terms of the trust agreement. Notes issued under authority of this chapter shall never constitute an indebtedness of the municipality within the meaning of any state constitutional provision or statutory limitation, and shall never constitute nor give rise to a pecuniary liability of the municipality or a charge against its general credit or taxing powers, and such fact shall be plainly stated on the face of each such note. The notes shall not be considered when computing any limitation of indebtedness of the municipality established by law. All notes issued under the authority of this chapter shall be construed to be negotiable instruments, despite the fact that they are payable solely from a specified source.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 57-41-9
What does Mississippi Code of 1972 Annotated § 57-41-9 cover?
Section 57-41-9 ("Sources for payment of notes; liability of municipality; negotiability of notes.") 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 § 57-41-9?
A common citation format is "Mississippi Code of 1972 Annotated § 57-41-9" (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 § 57-41-9 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.