The principal of and interest upon all notes or bonds issued under the authority of Section 37-41-89 shall be paid out of such transportation funds of the school district as may be available for such purpose.  It shall be the duty of the School Board to set aside each year out of such transportation funds a sufficient amount to pay the principal of and interest upon said notes or bonds as and when the same shall respectively mature and accrue.  It shall be the duty of the Superintendent or his/her designee to include in the school budget each year separate items showing the amount required for the payment of the principal of and interest upon all notes or bonds issued under the authority of said section.  ' 37-41-99 (1987)

The levying authority, as defined in Section 37-57-1(1)(b), acting for and on behalf of any school district, shall annually levy a special tax upon all of the taxable property within such school district, which shall be sufficient to provide for the payment of the principal and interest on school bonds issued under the provision of this article according to the terms thereof. 

' 37-59-23 (1988)

LEGAL REF.: MS CODE as cited

ADOPTED:    12/13/2005