Mississippi § 77-5-755 - Bonds issued as special obligations of municipality or joint agency issuing them.
Full text of Mississippi Mississippi Code of 1972 Annotated § 77-5-755 — Bonds issued as special obligations of municipality or joint agency issuing them., with citation guidance and answers to common questions.
§ 77-5-755. Bonds issued as special obligations of municipality or joint agency issuing them.
The bonds shall be special obligations of the municipality or joint agency issuing them. The principal of, premium, if any, and interest on the bonds shall not be payable from the general funds of the municipality or joint agency, nor shall they constitute a legal or equitable pledge, charge, lien or encumbrance upon any of its property or upon any of its income, receipts or revenues, except the funds which are pledged under the resolution authorizing the bonds. Neither the faith and credit nor the taxing power of a municipality or of the state are, or may be, pledged for the payment of the principal of or interest on the bonds, and no holder of the bonds shall have the right to compel the exercise of the taxing power by the state or a municipality or the forfeiture of any of its property in connection with any default thereon. Every bond shall recite in substance that the principal of and interest on the bond is payable solely from the revenues pledged to its payment and that the municipality or joint agency is not obligated to pay the principal or interest except from such revenues.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 77-5-755
What does Mississippi Code of 1972 Annotated § 77-5-755 cover?
Section 77-5-755 ("Bonds issued as special obligations of municipality or joint agency issuing them.") 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 § 77-5-755?
A common citation format is "Mississippi Code of 1972 Annotated § 77-5-755" (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 § 77-5-755 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.