Mississippi § 65-29-21 - Deposit of bond proceeds.
Full text of Mississippi Mississippi Code of 1972 Annotated § 65-29-21 — Deposit of bond proceeds., with citation guidance and answers to common questions.
§ 65-29-21. Deposit of bond proceeds.
The proceeds from the sale of any bonds or other obligations issued pursuant to this chapter shall be placed to the credit of such municipality, county, ferry commission, or trustee in a bank or banks which are members of the federal reserve system, may be withdrawn therefrom in accordance with any agreement or agreements entered into between such municipality and the purchaser or purchasers of such bonds or other obligations, and shall be used for no other purpose than the purpose or purposes set forth in the original resolution of the governing body of such municipality. Any officer or other person diverting or assisting to divert any such funds to any other purpose or purposes than the purpose or purposes originally set forth in said resolution of the governing body of said municipality or county shall be guilty of a felony and punishable accordingly, and shall be liable both personally and officially on bond for such diversion. Nothing in this chapter shall be construed as a guarantee on the part of the State of Mississippi to pay the principal of or interest on any bonds or other obligations issued pursuant to this chapter.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 65-29-21
What does Mississippi Code of 1972 Annotated § 65-29-21 cover?
Section 65-29-21 ("Deposit of bond proceeds.") 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 § 65-29-21?
A common citation format is "Mississippi Code of 1972 Annotated § 65-29-21" (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 § 65-29-21 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.