16-17A-14
Section 16-17A-14 Default in payments. (a) If there should be any default in the payment of
the principal of, or interest on, any indebtedness issued under this chapter or of any agreements
contained in any security document, and the period for cure of the default has passed, then
the holder of the indebtedness and the trustee under any security document, or any one or
more of them, subject to the terms of the financing documents authorizing the indebtedness
or any security document applicable thereto: (1) May, by mandamus, injunction, or other proceedings,
compel performance of any covenant or agreement of the authority contained in any applicable
resolution or security document by its board or its officers. (2) May be entitled to a judgment
against the authority for the principal of and interest on the indebtedness so in default,
together with all reasonable costs of collection. (3) May, in the event the indebtedness is
secured by a mortgage on, or security interest in, any physical...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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7-1-201
Section 7-1-201 General definitions. (a) [Reserved]. (b) Subject to additional definitions
contained in the subsequent articles of this title which are applicable to specific articles
or parts thereof, and unless the context otherwise requires, in this title: (1) "Action,"
in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in
equity, and any other proceeding in which rights are determined. (2) "Aggrieved party"
means a party entitled to pursue a remedy. (3) "Agreement," as distinguished from
"contract," means the bargain of the parties in fact, as found in their language
or inferred from other circumstances, including course of performance, course of dealing,
or usage of trade as provided in Section 7-1-303. (4) "Bank" means a person engaged
in the business of banking and includes a savings bank, savings and loan association, credit
union, and trust company. (5) "Bearer" means a person in possession of a negotiable
instrument, document of title, or...
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11-54-179
Section 11-54-179 Bonds of authority generally. (a) Source of payment. All bonds issued by
an authority shall be payable solely out of the revenues and receipts derived from the leasing
or sale by the board of its projects or of any thereof as may be designated in the proceedings
of the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts and other security. The principal of and interest on any bonds issued by an authority
shall be secured by a pledge of the revenues and receipts out of which the same may be payable
and may be secured by a mortgage and deed of trust or trust indenture conveying as security
for such bonds all or any part of the property of the authority from which the revenues or
receipts so pledged may be derived. The resolution under which the bonds are authorized to
be issued and any such mortgage and deed of trust or trust indenture may contain any agreements
and provisions respecting the operation, maintenance and insurance...
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11-92C-9
Section 11-92C-9 Bonds of authority. (a) Source of payment. All bonds issued by an authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects, or from any other source as may be designated in the proceedings
of the board under which the bonds are authorized to be issued. (b) Pledge of revenues, receipts,
and other security. The principal and interest on any bonds issued by an authority shall be
secured by a pledge of the revenues and receipts out of which the principal and interest may
be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for the bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (c) Resolutions. The resolution under which
the bonds of an authority are authorized to be issued and any mortgage and deed of trust or
trust indenture may contain any agreements and provisions respecting the...
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11-54A-10
Section 11-54A-10 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts and other security. The principal of an interest on any bonds issued by the authority
shall be secured by a pledge of the revenues and receipts out of which the same may be payable
and may be secured by a mortgage and deed of trust or trust indenture conveying as security
for such bonds all or any part of the property of the authority from which the revenues or
receipts so pledged may be derived. The resolution under which the bonds are authorized to
be issued and any such mortgage and deed of trust or trust indenture may contain any agreements
and provisions respecting the operation, maintenance and insurance of the...
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45-23A-91.09
Section 45-23A-91.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. (1) The principal of and interest on any bonds issued by the
authority shall be secured by a pledge of the revenues and receipts out of which the same
may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for such bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are
authorized to be issued and any such mortgage and deed of trust or trust indenture may contain
any agreements and provisions respecting the operation, maintenance, and...
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45-27A-31.09
Section 45-27A-31.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts, and other security. (1) The principle of and interest on any bonds issued by the
authority shall be secured by a pledge of the revenues and receipts out of which the same
may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for such bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are
authorized to be issued and any such mortgage and deed of trust or trust indenture may contain
any agreements and provisions respecting the operation, maintenance, and...
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45-35A-52.09
Section 45-35A-52.09 Bonds of authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and receipts derived from the leasing or sale
by the board of its projects or of any thereof as may be designated in the proceedings of
the board under which the bonds shall be authorized to be issued. (b) Pledge of revenues,
receipts and other security. (1) The principal of and interest on any bonds issued by the
authority shall be secured by a pledge of the revenues and receipts out of which the same
may be payable and may be secured by a mortgage and deed of trust or trust indenture conveying
as security for such bonds all or any part of the property of the authority from which the
revenues or receipts so pledged may be derived. (2) The resolution under which the bonds are
authorized to be issued and any such mortgage and deed of trust or trust indenture may contain
any agreements and provisions respecting the operation, maintenance, and...
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45-41A-10.09
Section 45-41A-10.09 Boards of the authority. (a) All bonds issued by the authority shall be
payable solely out of the revenues and receipts derived from the leasing or sale by the board
of its projects or of any thereof as may be designated in the proceedings of the board under
which the bonds shall be authorized to be issued. (b)(1) The principal of and interest on
any bonds issued by the authority shall be secured by a pledge of the revenues and receipts
out of which the same may be payable and may be secured by a mortgage and deed of trust or
trust indenture conveying as security for such bonds all or any part of the property of the
authority from which the revenues or receipts so pledged may be derived. (2) The resolution
under which the bonds are authorized to be issued and any such mortgage and deed of trust
or trust indenture may contain any agreements and provisions respecting the operation, maintenance,
and insurance of the property covered by the mortgage and deed of trust...
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