Mississippi § 59-7-519 - Disposition of revenues from facilities.
Full text of Mississippi Mississippi Code of 1972 Annotated § 59-7-519 — Disposition of revenues from facilities., with citation guidance and answers to common questions.
§ 59-7-519. Disposition of revenues from facilities.
All revenues of every kind and character derived from the operation of the facilities of any special project authorized by the provisions of this article shall be paid into the port fund of such county and into a special account in said fund to be designated as the “special project revenue fund” and the resolution of the board of supervisors directing the issuance of such bonds shall require that such revenues shall be allocated to and shall be pledged for the following purposes: an operation and maintenance fund out of which there shall be paid the usual and necessary expenses for the operation and maintenance of the project facilities; a renewal and replacement fund sufficient to assure that the project facilities, including equipment, shall be kept in good repair and working order; a bond and interest fund which shall be sufficient to provide for the payment of the principal of and the interest on the bonds as they mature and accrue, including a reasonable sum for the creation of a bond reserve fund to assure the payment of such bonds and the interest therein in the event that sufficient funds therefor are not otherwise available; and a contingent fund to provide for unforeseen contingencies arising in the operation of the project facilities. Any surplus funds remaining after making the foregoing allocations shall be dealt with as may be directed by the resolution of the board of supervisors whereunder such bonds are issued, for the repayment of advances received from any source, for the payment of any maturities of principal and interest of such bonds, for the improvement of the port and/or harbor facilities for which such bonds were issued, or for the retirement of the outstanding bonds according to their terms.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 59-7-519
What does Mississippi Code of 1972 Annotated § 59-7-519 cover?
Section 59-7-519 ("Disposition of revenues from facilities.") 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 § 59-7-519?
A common citation format is "Mississippi Code of 1972 Annotated § 59-7-519" (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 § 59-7-519 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.