General obligation bonds

In addition to any other authority granted by law, the Boards of Supervisors of Tate, Panola, Lafayette and Yalobusha Counties each may issue general obligation bonds of such counties for the purposes of this article. Each county is authorized to issue its general obligation bonds in an aggregate principal amount not to exceed Five Million Dollars ($5,000,000.00) to finance a portion of the costs of a project. Any bonds issued under this article shall not constitute an indebtedness within the meaning of any constitutional or statutory limitation or restriction as to the amount of debt which may be incurred by the county.