In connection with the issuance of bonds or other obligations by any municipality and county pursuant to this chapter, or in order to secure the payment of said bonds or other obligations, such county or municipality shall have power:
To accept grants from the United States of America, the president of the United States, the federal emergency administration of public works, or such other agencies, instrumentalities, or corporations as may be designated or created to make grants or loans (hereinafter termed “federal agency”) pursuant to the National Industrial Recovery Act and any further act of the congress of the United States providing for the construction of useful public works (hereinafter termed “National Industrial Recovery Act”) for or in aid of work, development, or improvement authorized by this chapter.
To make such contracts and execute such instruments containing such provisions, covenants, and conditions as, in the discretion of the authorities of any such municipalities or county, may be necessary, proper, or advisable for the purpose of obtaining or securing grants, loans, or other financial assistance from any federal agency pursuant to the National Industrial Recovery Act; to make such further, different, or additional contracts and execute all instruments necessary or convenient in or for the furtherance of any work, development, or improvement, including but not limited to all property, real and personal, appurtenant thereto or connected therewith and the existing work, development, or improvement, if any, to which the work, development, or improvement authorized by this chapter is an extension, addition, betterment, or embellishment (hereinafter termed “work, development, or improvement”); to carry out and perform the terms and conditions of any such contract or instrument.
To pledge all or any part of the fees, rents, tolls, revenues, or other charges received or receivable by such municipality or county or ferry commission from any work, development, or improvement to which its right then exists or the right to which may thereafter come into existence.
To covenant against the pledging of all or any part of the fees, rents, tolls, revenues, or other charges received or receivable by such municipality or county or ferry commission, if any, from any work, transportation development, or improvement to which its right then exists or the right to which may thereafter come into existence.
To covenant against the encumbering of all or any part of any work, development, or improvement, or against permitting or suffering any lien thereon.
To covenant as to what other or additional debt may be incurred by such municipality or county.
To provide for the preparation, specifications, terms, form, registration, extension, execution, and authentication of any bonds or other obligations issued pursuant to this chapter.
To provide for the replacement of lost, destroyed, or mutilated bonds or other obligations issued pursuant to this chapter.
To covenant as to the fees, rents, revenues, or tolls to be charged, the amount to be raised each year or other period of time, and as to the use and disbursement to be made thereof.
To covenant to set aside or to pay over reserves and sinking funds and as to the disposal thereof.
To redeem prior to maturity, with or without premium, bonds or other obligations issued pursuant to this chapter, to covenant for their prior redemption, and to provide the terms and conditions thereof.
To covenant against extending the time for the payment of the interest on or principal of the bonds or other obligations issued pursuant to this chapter, directly or indirectly, by any means or in any manner.
To covenant as to books of account of such municipality or county, as to the inspection and audit thereof, and as to the accounting method.
To covenant as to the rights, liabilities, powers, and duties arising upon the breach by such municipality or county of any covenant, condition, or obligation assumed pursuant to this chapter.
To make such covenants and do any and all such acts and things as may be necessary, convenient, or desirable in order to secure any bonds or other obligations issued pursuant to this chapter, or in the absolute discretion of the authorities of such municipality or county in order to make such bonds or other obligations more marketable, notwithstanding that such covenants, acts, or things may not be enumerated herein or expressly authorized herein; it being the intention hereby to give the authorities of any municipality or county issuing bonds or other obligations pursuant to this chapter the power to do all things in the issuance of said bonds or other obligations and for their execution that may not be inconsistent with the constitution of the State of Mississippi.
