Title 37, Education

For the purpose of paying the principal of and interest upon all state school bonds issued under the authority of this chapter, there shall be and there is hereby pledged the full faith, credit, and taxing power of the State of Mississippi.

All state school bonds issued under the provisions of this chapter shall be signed by the governor, or by his facsimile signature, and attested by the secretary of state. The great seal of the State of Mississippi shall be affixed to or impressed upon each of them. Coupons attach…

All bonds issued under the authority of this chapter shall be lithographed or engraved and printed in two (2) or more colors to prevent counterfeiting. Such bonds shall be issued in denominations as shall be specified by the State Bond Commission. No bond shall bear more than one…

All bonds issued under the authority of this chapter shall mature annually. None of such bonds shall have a final maturity date of more than twenty (20) years from the date of the issuance thereof, and in no event shall the final maturity date of any such bonds be later than July…

All state school bonds issued under the provisions of this chapter shall be sold by the said state bond commission upon sealed competitive bids or proposals after advertisement therefor and publication of the notice of such sale in the manner provided by law. The proceeds of the …

In anticipation of the issuance of any bonds authorized under the provisions of this chapter, the state bond commission may authorize and issue interim certificates payable to bearer or to the purchaser of the bonds. Such interim certificates may be in such form and may contain s…

For the purposes of this chapter, the term “capital improvement” shall mean the cost of (1) erecting, repairing, equipping, remodeling and enlarging school buildings and related facilities, including, but not being limited to, gymnasiums, auditoriums, lunch rooms, vocational trai…

All bonds issued under the provisions of this chapter and all interim certificates issued under the provisions of this chapter, except those fully registered, shall be fully negotiable within the meaning and for all the purposes of the Uniform Commercial Code.

All bonds and interim certificates issued under the provisions of this chapter and all interest thereon and income therefrom shall be exempt from all taxation, except gift, transfer, and inheritance taxes.

The state treasurer shall keep a record in his office of the issuance of all bonds issued under the provisions of this chapter, and he shall execute a certificate to that effect on the back of each bond, which certificate may be signed by either the original or the facsimile sign…

The state educational finance commission is hereby authorized and directed to pay, on approval of the governor, out of any funds derived from the issuance of state school bonds or otherwise in its hands and available for such purpose, any expense which may be incurred by the stat…

All bonds issued under the authority of this chapter may, in the discretion of the state bond commission, be validated in the chancery court of Hinds County, Mississippi, in the manner and with the force and effect now or hereafter provided by Chapter 13, Title 31, of the Mississ…

For the purpose of providing for the payment of the principal of and interest upon bonds issued under the provisions of this chapter according to the terms thereof, there shall be and there is hereby established in the state treasury a sinking fund for such payment. Said sinking …

In consideration of the acceptance and purchase of the bonds authorized under the provisions of this chapter, by those who shall hold the same from time to time, this chapter shall be deemed and shall constitute a contract between the State of Mississippi and such holders and sha…

Nothing in this chapter shall be construed to prohibit a school district from issuing its bonds, negotiable notes, or certificates of indebtedness for the purposes, in the manner, to the extent, and subject to the limitations provided by Sections 37-59-1 through 37-59-45, or any …

Any county board of education or board of trustees of any school district, including a municipal separate school district, which may be aggrieved by any final rule, regulation, or order of the state educational finance commission adopted under the provisions of this chapter shall…

It is found and determined that the state should make an annual grant of Twenty-four Dollars ($24.00) for each child in net enrollment in the public schools of the various school districts of this state during each school year, and that such monies should be applied for the purpo…

This chapter may be cited as the “Uniform Minor Student Capacity to Borrow Law.”

(a) As used in this chapter:(a) “person” means any individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity;(b) “educational institution” means a university, college, community …

Any written obligation that is not usurious signed by a minor sixteen or more years of age in consideration of an educational loan received by him from any person is enforceable as if he were an adult at the time of execution, but only if prior to the making of the educational lo…

It is hereby determined and declared that the state reaffirms its commitment and dedication to public school education; that nothing contained in this chapter shall be construed in any manner whatever to be an abandonment or impairment of public school education in this state; th…

(a) In addition to the requirements set out in Section 37-51-7, to be eligible for a loan an applicant must:(a) Be a bona fide actual resident of the State of Mississippi; and(b) Attend any bona fide approved nonfree elementary or secondary school. (a) Be a bona fide actual resid…

An applicant shall not have to submit but one initial application for a loan; thereafter, he or she shall file a request for each additional year’s loan amount up to the maximum amount allowed. Accompanying each said request shall be a certification from the school which applican…

Applicants who are granted loans may receive a loan in any amount, not exceeding two thousand four hundred dollars ($2,400.00) to any one applicant. Said amount is to be paid in annual, semiannual or quarterly installments not exceeding two hundred dollars ($200.00) per school ye…

Each applicant, if an adult, or his parent or legal guardian in his behalf, if a minor, before being granted a loan shall enter into a contract with the State of Mississippi agreeing to the terms and conditions upon which the loan shall be made. Said contract shall include such t…

(a) Any loans made or granted to any applicant shall be made and based upon the following conditions of repayment:(a) Repayment in full of the principal of the loan may be made at any time prior to three years after graduation from or termination of attendance in an approved scho…

The amount of any loan made or granted to any applicant shall be reduced by a credit at the rate of one hundred dollars ($100.00) per annum for each year from and after five years from the initial date of the granting of said loan that applicant continues to reside in the State o…

The terms and provisions of this chapter shall be administered and executed by the state educational finance commission. For the purpose of this chapter, the term “commission” shall mean “state educational finance commission” except where the context clearly indicates otherwise.

There shall be, and there is hereby, created in the state treasury, a special fund to be known as the “state educational loan fund.” The said fund shall consist of such amounts as may be paid into said fund by appropriation and also such amounts as may be returned to said fund as…

It shall be the duty of the commission to receive and pass upon, allow or disallow, all applications for loans made by students who desire to receive a secular education in any of the grades one through twelve in any school in this state constituting a bona fide school as defined…

The “secular education of children” as used in this chapter shall mean the education of children in those subjects, and only those subjects, which are required to be taught by state law to the same extent as those subjects are taught in the public schools of the state or which ar…

(1) (a) The boards of supervisors of the counties shall levy and collect all taxes for and on behalf of all school districts which were within the county school system or designated as special municipal separate school districts prior to July 1, 1986. Such taxes shall be collecte…

(1) Each school board shall submit to the levying authority for the school district a certified copy of an order adopted by the school board requesting an ad valorem tax effort in dollars for the support of the school district. The copy of the order shall be submitted by the scho…

(1) In addition to the taxes levied under Section 37-57-1, the levying authority for the school district, as defined in Section 37-57-1, upon receipt of a certified copy of an order adopted by the school board of the school district requesting an ad valorem tax effort in dollars …

(1) Beginning with the tax levy for the 1997 fiscal year and for each fiscal year thereafter, the aggregate receipts from taxes levied for school district purposes pursuant to Sections 37-57-105 and 37-57-1 shall not exceed the aggregate receipts from those sources during any one…

In the event that the amount of revenue collected or estimated to be collected from local sources, on behalf of a school district during a fiscal year, is less than the amount provided for in the duly adopted budget of said school district for the fiscal year, then the school dis…

(a) For the purposes of Sections 37-57-111 through 37-57-119, the following words shall have the meanings ascribed to them in this section:(a) “Family unit” means a new family dwelling, mobile home, apartment, condominium, duplex, townhouse or structure, used for family residency…

The board of supervisors of any class one county which has a population in the 1970 decennial census of not less than thirty-five thousand (35,000) and not more than fifty thousand (50,000) and having a total assessed valuation in 1971 of not less than forty million dollars ($40,…

In addition to mobile home ad valorem taxes assessed and collected under authority of Chapter 53 of Title 27, Mississippi Code of 1972, the boards of supervisors are hereby authorized and empowered to levy a ten dollar ($10.00) ad valorem tax upon each mobile home or house traile…

All funds derived from such taxation under Sections 37-57-111 through 37-57-119 shall be collected by the tax assessors and/or tax collectors of the county prior to or simultaneous with the sale of the new family unit and shall be deposited into a county trust fund entitled “coun…

The board of supervisors of any county which imposes the tax authorized by Sections 37-57-111 through 37-57-119 may adopt rules and regulations governing the time and method of payment of the taxes, and may provide by rule or regulation for the withholding of any final or other i…

All taxable real property which has been or shall be incorporated in, annexed to or otherwise made a part of any school district, and any taxable personal property which is located or situated in any school district prior to June 1 of any fiscal year, shall be liable for all ad v…

In the event taxable real property has been or is incorporated in, annexed to, or otherwise made a part of a school district, or in the event taxable personal property is or becomes situated or located within a school district, as the case may be, prior to October 1 of any year b…

The word “bonds” as used in this article shall be deemed to mean and include bonds, notes, or certificates of indebtedness.

(1) Before any money shall be borrowed under the provisions of this chapter, the school board of the school district shall adopt a resolution declaring the necessity for borrowing such money, declaring its intention to borrow such money and to issue the negotiable bonds of the sc…

Where an election has been called, as provided in Section 37-59-11, notice of such election shall be signed by the president of the school board and shall be published once a week for at least three (3) consecutive weeks, in at least one (1) newspaper published in such school dis…