Bill Text: MS HB1282 | 2013 | Regular Session | Introduced
Bill Title: Flood and drainage control districts; delete requirement for election before issuance of bonds by.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2013-02-05 - Died In Committee [HB1282 Detail]
Download: Mississippi-2013-HB1282-Introduced.html
MISSISSIPPI LEGISLATURE
2013 Regular Session
To: Ways and Means
By: Representative Denny
House Bill 1282
AN ACT TO AMEND SECTION 51-35-325, MISSISSIPPI CODE OF 1972, TO DELETE THE PROVISIONS OF LAW PROVIDING FOR A MANDATORY ELECTION BEFORE THE ISSUANCE OF BONDS BY A FLOOD AND DRAINAGE CONTROL DISTRICT; TO PROVIDE THAT A FLOOD AND DRAINAGE CONTROL DISTRICT PROPOSING TO ISSUE BONDS MUST PUBLISH NOTICE OF ITS INTENT TO ISSUE BONDS AND THAT AN ELECTION ON THE QUESTION OF THE ISSUANCE OF THE BONDS WILL BE HELD IF THE LESSER OF TWENTY PERCENT OR FIFTEEN HUNDRED OF THE QUALIFIED ELECTORS LIVING OR OWNING PROPERTY IN THE DISTRICT PROTEST AGAINST THE ISSUANCE OF SUCH BONDS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 51-35-325, Mississippi Code of 1972, is amended as follows:
51-35-325. * * *
Before issuing any revenue bonds hereunder, the board of directors of the district shall adopt a resolution declaring its intention to so issue, stating the amount of bonds proposed to be issued, the purpose for which the bonds are to be issued, and the date upon which the governing body proposes to direct the issuance of such bonds. Such resolution shall be published once a week for at least three (3) consecutive weeks in at least one (1) newspaper published in the district. The first publication of such resolution shall be made not less than twenty-one (21) days prior to the date fixed in such resolution for the issuance of the bonds and the last publication shall be made not more than seven (7) days prior to such date. If no newspaper be published in such district, then such notice shall be given by publishing the resolution for the required time in some newspaper having a general circulation in the district, and, in addition, by posting a copy of such resolution for at least twenty-one (21) days next preceding the date fixed therein at three (3) public places in the district. If twenty percent (20%) or one thousand five hundred (1,500), whichever is less, of the qualified electors living or owning property in the district shall file a written protest against the issuance of such bonds on or before the date specified in such resolution, then an election on the question of the issuance of such bonds shall be called and held as herein provided. If no such protest be filed, then such bonds may be issued without an election at any time within a period of two (2) years after the date specified in the above-mentioned resolution. However, the board of directors of the district, in its discretion, may nevertheless call an election on the question of the issuance of the bonds, in which event it shall not be necessary to publish the resolution declaring its intention to issue bonds as herein provided.
SECTION 2. This act shall take effect and be in force from and after July 1, 2013.
