House Bill 1816

AN ACT TO AUTHORIZE THE TALLAHATCHIE COUNTY BOARD OF SUPERVISORS TO PLEDGE A PORTION OF CERTAIN AD VALOREM TAXES TO RETIRE DEBT INCURRED IN CONNECTION WITH THE COUNTY HOSPITAL; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. The Board of Supervisors of Tallahatchie County, Mississippi, is authorized to pledge a portion of the proceeds from ad valorem taxes of the county, which have been levied under Section 41-13-25, Mississippi Code of 1972, for the purpose of raising funds for the maintenance and operation of hospitals and related facilities, in order to retire or refinance any bonds, notes, debts or obligations that the county has incurred or may incur in the construction, reconstruction, improvement, maintenance or operation of the Tallahatchie General Hospital. The amount of such pledge to retire or refinance debt under this act shall not exceed an aggregate amount of Five Hundred Thousand Dollars ($500,000.00) over a period of twelve (12) years from the effective date of this act. A pledge of the proceeds of ad valorem taxes to retire debt as specified in this act shall be binding upon any Board of Supervisors of Tallahatchie County which may be elected after the effective date of this act, and may not be revoked, rescinded or voidable as long as the debt for which the pledge has been made is outstanding.

SECTION 2. This act shall take effect and be in force from and after its passage.