Miss. Code Ann. § 31-31-11 — MS Code / Title 31 / Chapter 8 / Section 31-11
Miss. Code Ann. § 31-31-11
Status: in_force

(1) For the purpose of providing funds for the payment of a certain portion of the debt service on any bonds issued pursuant to this chapter and for the purpose of providing funds for the maintenance of the facility and renovations, improvements and additions to the facility, there is hereby levied, assessed and shall be collected from every person engaging in or doing business in the City of Jackson, Mississippi, as specified herein, a tax which may be cited as an “occupancy tax,” which shall be in addition to all other taxes now imposed. Such tax shall be upon each hotel and motel located within the City of Jackson in the amount of Seventy-five Cents (75¢) per day for each occupied room.

(2) Persons liable for the tax imposed herein shall add the amount of tax to the price of rooms, and in addition thereto shall collect, insofar as practicable, the amount of the tax due by him from the person receiving the services or goods at the time of payment therefor.

(3) Such tax shall be collected by and paid to the State Tax Commission on a form prescribed by the State Tax Commission, in the same manner that state sales taxes are collected and paid; and the full enforcement provisions and all other provisions of Chapter 65, Title 27, Mississippi Code of 1972 , shall apply as necessary to the implementation and administration of this chapter.

(4) The proceeds of such tax shall be deposited by the State Tax Commission into the reserve fund created pursuant to subsection (5) of this section on or before the fifteenth day of the month following the month in which collected by the State Tax Commission.

(5) There is hereby created in the State Treasury a special fund to be called the “Mississippi Telecommunication Conference and Training Facility Reserve Fund.” Money in the fund at the end of a fiscal year shall not lapse into the general fund and interest earned on any amount deposited into the fund shall be credited to the special fund. Money in the fund shall be used to pay a portion of the debt service of the bonds issued pursuant to this chapter as specified in subsection (6) of this section and to provide funds for the maintenance and operation of the facility, including, but not limited to, the director and all other personnel for operational purposes. Provided, however, that not more than Twenty-five Thousand Dollars ($25,000.00) shall be available from the special fund to defray the costs of operation of the facility from and after April 19, 2005 through June 30, 2005.

(6) The amount of the debt service that shall be paid annually from the reserve fund shall be the amount of the debt service on bonds attributable to forty percent (40%) of the cost of constructing the facility and the amount of the debt service on bonds attributable to all land acquisition costs. Amounts remaining in the fund in any fiscal year after the payments required by this subsection for debt service, may be used by the commission to provide funds for the maintenance of the facility and renovations, improvements and additions to the facility.

(7) Before the taxes authorized by this chapter shall be imposed, the municipal governing authorities of the City of Jackson shall adopt a resolution declaring its intention to levy the tax, setting forth the amount of such tax and establishing the date on which this tax initially shall be levied and collected. This date shall be not less than the first day of the second month from the date of adoption of the resolution.

The resolution shall be published in a local newspaper at least twice during the period from the adoption of the resolution to the effective date of the taxation prescribed in this section, with the last publication being made no later than ten (10) days prior to the effective date of such taxation.

(8) The tax imposed pursuant to this section shall remain in force and effect until the City of Jackson shall by resolution rescind the tax; provided, however, that the tax imposed pursuant to this section shall not be rescinded if any bonds issued pursuant to this chapter remain outstanding.
Miss. Code Ann. § 31-7-423 — MS Code / Title 31 / Chapter 1 / Section 7-423
Miss. Code Ann. § 31-7-423
Status: in_force

(1) After proposals or qualifications have been evaluated, the evaluation committee shall prepare a report evaluating and recommending the award of a contract or contracts. The report shall list the names of all potential offerers who submitted a proposal or qualification and shall summarize the proposals or qualifications of each offerer. The report shall rank offerers in order of evaluation, shall recommend the selection of an offerer or offerers, as appropriate, for a contract, shall be clear in the reasons why the offerer or offerers have been selected among others considered, and shall detail the terms, conditions, scope of services, fees and other matters to be incorporated into the contract. The report shall be available to the public at least forty-eight (48) hours before the awarding of the contract.

(2) The chief procurement officer shall publish a notice on the agency's website and the Mississippi procurement portal summarizing the award of the contract, which shall include but not be limited to, the nature, duration and amount of the contract, the name of the offerer and a statement that the contract is on file and available for public inspection in the office of the chief procurement officer.
Miss. Code Ann. § 31-27-25 — MS Code / Title 31 / Chapter 25 / Section 27-25
Miss. Code Ann. § 31-27-25
Status: in_force

If any one or more sections, clauses, sentences or parts of this chapter shall for any reason be questioned in any court and shall be adjudged unconstitutional or invalid, such judgment shall not affect, impair or invalidate the remaining provisions of this chapter, but shall be confined in its operations to the specific provisions so held invalid, and inapplicability or invalidity of any such section, clause, provision or part shall not be taken to affect or prejudice in any way the remaining part or parts of this chapter.
Miss. Code Ann. § 31-11-3 — MS Code / Title 31 / Chapter 8 / Section 11-3
Miss. Code Ann. § 31-11-3
Status: in_force

(1) The Department of Finance and Administration, for the purposes of carrying out the provisions of this chapter, in addition to all other rights and powers granted by law, shall have full power and authority to employ and compensate architects or other employees necessary for the purpose of making inspections, preparing plans and specifications, supervising the erection of any buildings, and making any repairs or additions as may be determined by the Department of Finance and Administration to be necessary, pursuant to the rules and regulations of the State Personnel Board. The department shall have entire control and supervision of, and determine what, if any, buildings, additions, repairs, demolitions or improvements are to be made under the provisions of this chapter, subject to the regulations adopted by the Public Procurement Review Board.

(2) The department shall have full power to erect buildings, make repairs, additions or improvements, demolitions, to grant or acquire easements or rights-of-way, and to buy materials, supplies and equipment for any of the institutions or departments of the state subject to the regulations adopted by the Public Procurement Review Board. In addition to other powers conferred, the department shall have full power and authority, as directed by the Legislature, or when funds have been appropriated for its use for these purposes, to:

(a) Build a state office building;

(b) Build suitable plants or buildings for the use and housing of any state schools or institutions, including the building of plants or buildings for new state schools or institutions, as provided for by the Legislature;

(c) Provide state aid for the construction of school buildings;

(d) Promote and develop the training of returned veterans of the United States in all sorts of educational and vocational learning to be supplied by the proper educational institution of the State of Mississippi, and in so doing allocate monies appropriated to it for these purposes to the Governor for use by him in setting up, maintaining and operating an office and employing a state director of on-the-job training for veterans and the personnel necessary in carrying out Public Law No. 346 of the United States;

(e) Build and equip a hospital and administration building at the Mississippi State Penitentiary;

(f) Build and equip additional buildings and wards at the Boswell Retardation Center;

(g) Construct a sewage disposal and treatment plant at the Mississippi State Hospital, and in so doing acquire additional land as may be necessary, and to exercise the right of eminent domain in the acquisition of this land;

(h) Build and equip the Mississippi central market and purchase or acquire by eminent domain, if necessary, any lands needed for this purpose;

(i) Build and equip suitable facilities for a training and employing center for the blind;

(j) Build and equip a gymnasium at Columbia Training School;

(k) Approve or disapprove the expenditure of any money appropriated by the Legislature when authorized by the bill making the appropriation;

(l) Expend monies appropriated to it in paying the state's part of the cost of any street paving;

(m) Sell and convey state lands when authorized by the Legislature, cause said lands to be properly surveyed and platted, execute all deeds or other legal instruments, and do any and all other things required to effectively carry out the purpose and intent of the Legislature. Any transaction which involves state lands under the provisions of this paragraph shall be done in a manner consistent with the provisions of Section 29-1-1 ;

(n) Collect and receive from educational institutions of the State of Mississippi monies required to be paid by these institutions to the state in carrying out any veterans' educational programs;

(o) Purchase lands for building sites, or as additions to building sites, for the erection of buildings and other facilities which the department is authorized to erect, and demolish and dispose of old buildings, when necessary for the proper construction of new buildings. Any transaction which involves state lands under the provisions of this paragraph shall be done in a manner consistent with the provisions of Section 29-1-1 ;

(p) Obtain business property insurance with a deductible of not less than One Hundred Thousand Dollars ($100,000.00) on state-owned buildings under the management and control of the department; and

(q) In consultation with and approval by the Chairmen of the Public Property Committees of the Senate and the House of Representatives, enter into contracts for the purpose of providing parking spaces for state employees who work in the Woolfolk Building, the Carroll Gartin Justice Building or the Walter Sillers Office Building.

(r) The department is hereby authorized to transfer up to One Million Dollars ($1,000,000.00) of available bond funds to each community college requesting to be exempt from department control and supervision relating to the repair, renovation and improvement of existing facilities owned by the community colleges, including utility infrastructure projects; heating and air conditioning systems; and the replacement of furniture and equipment. The community colleges shall abide by all applicable statutes related to the purchase of the repair, renovation and improvement of such existing facilities.

(3) The department shall survey state-owned and state-utilized buildings to establish an estimate of the costs of architectural alterations, pursuant to the Americans With Disabilities Act of 1990, 42 USCS, Section 12111 et seq. The department shall establish priorities for making the identified architectural alterations and shall make known to the Legislative Budget Office and to the Legislature the required cost to effectuate such alterations. To meet the requirements of this section, the department shall use standards of accessibility that are at least as stringent as any applicable federal requirements and may consider:

(a) Federal minimum guidelines and requirements issued by the United States Architectural and Transportation Barriers Compliance Board and standards issued by other federal agencies;

(b) The criteria contained in the American Standard Specifications for Making Buildings Accessible and Usable by the Physically Handicapped and any amendments thereto as approved by the American Standards Association, Incorporated (ANSI Standards);

(c) Design manuals;

(d) Applicable federal guidelines;

(e) Current literature in the field;

(f) Applicable safety standards; and

(g) Any applicable environmental impact statements.

(4) The department shall observe the provisions of Section 31-5-23 in letting contracts and shall use Mississippi products, including paint, varnish and lacquer which contain as vehicles tung oil and either ester gum or modified resin (with rosin as the principal base of constituents), and turpentine shall be used as a solvent or thinner, where these products are available at a cost not to exceed the cost of products grown, produced, prepared, made or manufactured outside of the State of Mississippi.

(5) The department shall have authority to accept grants, loans or donations from the United States government or from any other sources for the purpose of matching funds in carrying out the provisions of this chapter.

(6) The department shall build a wheelchair ramp at the War Memorial Building which complies with all applicable federal laws, regulations and specifications regarding wheelchair ramps.

(7) The department shall review and preapprove all architectural or engineering service contracts entered into by any state agency, institution, commission, board or authority, regardless of the source of funding used to defray the costs of the construction or renovation project, for which services are to be obtained to ensure compliance with purchasing regulations and to confirm that the contracts are procured by a competitive qualification-based selection process except where such appointment is for an emergency project or for a continuation of a previous appointment for a directly related project. The provisions of this subsection (7) shall not apply to:

(a) Any architectural or engineering contract fully paid for by self-generated funds of any of the state institutions of higher learning;

(b) Any architectural or engineering contract that is self-administered at a state institution of higher learning as provided under Section 27-104-7(2)(b) or 37-101-15(m) ;

(c) Community college projects that are fully funded from local funds or other nonstate sources which are outside the Department of Finance and Administration's appropriations or as directed by the Legislature;

(d) Any construction or design projects of the State Military Department that are fully or partially funded from federal funds or other nonstate sources; and

(e) Any project of the State Department of Transportation.

(8)(a) The department shall have the authority to obtain annually from the state institutions of higher learning, the state community colleges and junior colleges, the Department of Mental Health, the Department of Corrections and the Department of Wildlife, Fisheries and Parks information on all renovation and repair expenditures for buildings under their operation and control, including duties, responsibilities and costs of any architect or engineer hired by any such institutions, and shall annually report the same to the Legislative Budget Office, the Chairman of the House Public Property Committee and the Chairman of the Senate Public Property Committee before September 1.

(b) All state agencies, departments and institutions are required to cooperate with the Department of Finance and Administration in carrying out the provisions of this subsection.

(c) Expenditures shall not include those amounts expended for janitorial, landscaping or administrative support, but shall include expenditures from both state and nonstate sources.

(d) Expenditures shall not include amounts expended by the department on behalf of state agencies, departments and institutions through the Department of Finance and Administration administered contracts, but shall include amounts transferred to the Department of Finance and Administration for support of such contracts.

(9) As an alternative to other methods of awarding contracts as prescribed by law, the department may elect to use the method of contracting for construction projects set out in Sections 31-7-13.1 and 31-7-13.2 ; however, the design-build method of construction contracting authorized under Section 31-7-13.1 may be used only when the Legislature has specifically required or authorized the use of this method in the legislation authorizing a project.

(10) The department shall have the authority, for the purposes of carrying out the provisions of this chapter, and in addition to all other rights and powers granted by law, to create and maintain a list of suspended and debarred contractors and subcontractors. Consistent with this authority, the department may adopt regulations governing the suspension or debarment of contractors and subcontractors, which regulations shall be subject to the approval of the Public Procurement Review Board. A suspended or debarred contractor or subcontractor shall be disqualified from consideration for contracts with the department during the suspension or debarment period in accordance with the department's regulations.

(11) This section shall not apply to the Mississippi State Port Authority.
Miss. Code Ann. § 31-29-9 — MS Code / Title 31 / Chapter 1 / Section 29-9
Miss. Code Ann. § 31-29-9
Status: in_force

The State Bond Commission shall sell such bonds in the manner and at a price which will result in the lowest interest rate on the best terms obtainable for the state, but no such sale shall be made at a price less than par plus accrued interest to date of delivery of the bonds to the purchaser. Notice of the sale of any such bonds shall be published at least one time not less than ten (10) days prior to the date of sale and shall be so published in one or more newspapers having a general circulation in the City of Jackson and in one or more other newspapers or financial journals as may be directed by the State Bond Commission.
Miss. Code Ann. § 31-17-61 — MS Code / Title 31 / Chapter 1 / Section 17-61
Miss. Code Ann. § 31-17-61
Status: in_force

The State of Mississippi, acting by resolution of the State Bond Commission or any political subdivision thereof acting by resolution of its governing body, may authorize and direct the paying agent or agents for each issue of its bonds and coupons to destroy all bonds and coupons duly paid and cancelled, and may accept in lieu thereof their certificate containing a description of such bonds and coupons so destroyed as proof of such destruction. Such bonds and coupons duly paid and cancelled may be destroyed not earlier than one (1) year after the date upon which such bonds and coupons are surrendered for payment, and only after the resolution of the State Bond Commission or the political subdivision's governing body authorizing the destruction thereof has been delivered to the paying agent or agents of the respective bond issues.
Miss. Code Ann. § 31-25-101 — MS Code / Title 31 / Chapter 9 / Section 25-101
Miss. Code Ann. § 31-25-101
Status: in_force

For the purposes of this article, the following words and phrases shall have the meaning ascribed in this section unless the context clearly indicates otherwise:

(a) “Bank” means the Mississippi Development Bank created pursuant to Section 31-25-1 et seq., Mississippi Code of 1972 .

(b) “Bonds” means bonds, notes and any other evidence of indebtedness.

(c) “Commission” means the Mississippi Commission on Environmental Quality.

(d) “Department” means the Mississippi Department of Environmental Quality.

(e) “Emergency fund” means the Water Pollution Control Emergency Loan Fund created under Section 49-17-86 .

(f) “Revolving fund” means the Water Pollution Control Revolving Fund created under Sections 49-17-81 through 49-17-89 .

(g) “State” means the State of Mississippi.
Miss. Code Ann. § 31-7-65 — MS Code / Title 31 / Chapter 1 / Section 7-65
Miss. Code Ann. § 31-7-65
Status: in_force

The commissioner of agriculture and commerce of the State of Mississippi shall notify all state agencies, political subdivisions or public institutions within the State of Mississippi as to the provisions of Sections 31-7-61 through 31-7-65 .
Miss. Code Ann. § 31-13-1 — MS Code / Title 31 / Chapter 11 / Section 13-1
Miss. Code Ann. § 31-13-1
Status: in_force

(1) The Governor, with the advice and consent of the Senate, shall appoint a qualified and practicing attorney at law, to be known as the State Bond Attorney, who shall possess the same qualifications for office as the Attorney General, who shall serve a term of office concurrent with that of the Governor or until his successor is appointed and qualified, and whose duties shall be those hereinafter specified.

(2) When the State Bond Attorney has a conflict of interest under the Mississippi Rules of Professional Conduct that is not consentable due to his or her participation in a validation of a bond, the State Bond Attorney shall immediately notify the Governor, Lieutenant Governor and the Attorney General of the conflict of interest in writing. Upon receipt of such notification, the Governor shall appoint a qualified and practicing attorney-at-law as the State Bond Attorney Pro Tempore, who shall possess the same qualifications for office as the Attorney General, who shall serve a term of office, the duration of which shall be for the sole and limited purpose of reviewing the proposed bond issue validation that is the subject of the conflict of interest and acting upon the same. Upon issuance of the Opinion of the State Bond Attorney Pro Tempore and the conclusion of participation in any validation proceeding or contest, the powers vested in the State Bond Attorney Pro Tempore shall be vacated.
Miss. Code Ann. § 31-19-27 — MS Code / Title 31 / Chapter 7 / Section 19-27
Miss. Code Ann. § 31-19-27
Status: in_force

(1) A doubtful claim of the state, or of the county, city, town, village, or levee board is one for which judgment has been rendered and for the collection of which the ordinary process of law has been ineffectual; debts due by drainage districts or other taxing districts or sinking funds to counties under the Rehabilitation Act of 1928, being Chapter 88, Laws of 1928, and Chapter 16 of the Acts of the Special Session of 1931; those debts due counties by drainage districts, which the Reconstruction Finance Corporation has heretofore refused to refinance; those debts due a municipal utility system as authorized under Section 21-27-77 ; debts due for sixteenth section township school fund loans made to churches, where the board of supervisors finds that the value of the security given therefor is insufficient or inadequate to pay or satisfy the principal and interest of said loan, and when the church repays the principal of said loan; and debts due by counties and townships to drainage districts for drainage district assessments or taxes levied and assessed upon sixteenth section lands.

(2) For the purposes of Section 31-19-30 , a doubtful claim is one for which a notice of tax lien has been enrolled in the Uniform State Tax Lien registry for a finally determined tax liability and for the collection of which the ordinary process of law has been ineffectual.
Miss. Code Ann. § 31-29-11 — MS Code / Title 31 / Chapter 13 / Section 29-11
Miss. Code Ann. § 31-29-11
Status: in_force

Upon the issuance and sale of such bonds, the State Bond Commission shall transfer the proceeds of any such sale or sales to a special fund in the State Treasury to be known as the “Institute for Technology Development Fund.” The proceeds of such bonds shall be used solely for the payment of the cost of the state's share of supporting the Institute for Technology Development, which shall include costs incident to the issuance and sale of such bonds, and shall be disbursed solely upon the order of the State Treasurer under such restrictions, if any, as may be contained in the resolution providing for the issuance of the bonds.
Miss. Code Ann. § 31-25-31 — MS Code / Title 31 / Chapter 3 / Section 25-31
Miss. Code Ann. § 31-25-31
Status: in_force

(1) Except as otherwise provided in subsection (2) of this section, bonds issued by the bank under this chapter shall be general obligations of the bank or, if the resolution of the board authorizing their issuance shall so provide, shall be special obligations thereof payable solely from payments of principal, interest and redemption payments on the municipal securities being purchased with their proceeds or from such payments on any or all municipal securities held or to be held by the bank or from other funds available to the bank as provided in such resolution or by any provision of law. Bonds issued by the bank shall not constitute or become an indebtedness, or a debt or liability of the state or of any local governmental unit nor shall any such entity other than the bank (in the case of its general obligations) be liable thereon, nor shall bonds or any powers granted herein to the state or agency thereof or local governmental unit constitute the giving, pledging or loaning of the faith and credit of the state or such agency thereof or of such local governmental unit. The issuance of bonds hereunder shall not directly, indirectly or contingently obligate the state to levy or collect any form of taxes or assessments therefor or to create any indebtedness payable out of taxes or assessments or make any appropriation for their payment nor to pledge the taxing power of the state and such levy or pledge is prohibited; however, notwithstanding the foregoing, nothing in this section shall be construed to prohibit any local governmental unit (including the state or any agency thereof) from assuming obligations in accordance with and subject to the limitations of this act or from issuing and selling municipal securities to the bank in accordance herewith. Nothing in this act shall be construed to authorize the bank to create a debt of the state within the meaning of the constitution or statutes of the state or authorize the bank to levy or collect taxes or assessments and bonds issued by the bank pursuant to the provisions of this act are payable and shall state plainly on their face that they are payable solely as general obligations of the bank, or solely from the funds pledged for their payment in accordance with the resolution authorizing their issuance or in any trust indenture or mortgage or deed of trust executed as security therefor, as the case may be, and are not a debt or liability of the state. The state shall not in any event be liable for the payment of the principal or interest on any bonds of the bank or for the performance of any pledge, mortgage, obligations or agreement of any kind whatsoever which may be undertaken by the bank. No breach of any such pledge, mortgage, obligation or agreement shall impose any pecuniary liability upon the state or any charge upon its general credit or against its taxing power. Nothing in this subsection shall be construed to prohibit any local governmental unit (including the state or any agency thereof) from assuming obligations in accordance with and subject to the limitations of this act or from issuing and selling any security to the bank in accordance with this act.

(2) Bonds issued by the bank under Section 31-25-21(k) for the purposes provided in Section 31-25-20(g) shall be general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi is irrevocably pledged. If the funds appropriated by the Legislature are insufficient to pay the principal of and the interest on such bonds as they become due, then the deficiency shall be paid by the State Treasurer from any funds in the State Treasury not otherwise appropriated. All such bonds shall contain recitals on their faces substantially covering the provisions of this subsection (2).
Miss. Code Ann. § 31-7-403 — MS Code / Title 31 / Chapter 1 / Section 7-403
Miss. Code Ann. § 31-7-403
Status: in_force

(1) Competitive sealed bidding is the preferred method of procurement; however, if it is not practicable and advantageous, a request for proposals or request for qualifications may be used. The terms “practicable” and “advantageous” are to be given ordinary dictionary meanings. The term “practicable” denotes what may be accomplished or put into practical application. “Advantageous” denotes a judgmental assessment of what is in the state's best interest.

(2) The following factors shall be considered when determining advantageousness:

(a) The need for flexibility;

(b) The type of evaluations that will be needed after offers are received;

(c) Whether the evaluation factors involve the relative abilities of offerers to perform, including degrees of technical or professional experience or expertise;

(d) Whether the type of need to be satisfied involves weighing artistic and aesthetic values to the extent that price is a secondary consideration;

(e) Whether the types of supplies, services or construction may require the use of comparative judgmental evaluations to evaluate them adequately; and

(f) Whether prior procurements indicate that a request for proposals may result in more beneficial contracts for the state.

(3) The following factors shall be considered when determining practicability:

(a) Whether the contract needs to be a contract other than a fixed-price type contract;

(b) Whether oral or written discussions may need to be conducted with offerers concerning technical and price aspects of their proposals;

(c) Whether offerers may need to be afforded the opportunity to revise their proposals, including price;

(d) Whether the award may need to be based upon a comparative evaluation of differing price and contractual factors as well as quality factors that include technical and performance capability and the content of the technical proposal; and

(e) Whether the primary consideration in determining award may not be price.

(4) On or before January 1 of each year, and every time a chief procurement officer is hired, each state agency shall provide to the state purchasing agent the name of the state agency's chief procurement officer and information identifying the state agency's central purchasing office, if applicable. If the chief procurement officer of an agency or his or her designee determines, in writing, that the use of competitive sealed bidding is either not practicable or not advantageous to the state, he or she shall submit a detailed explanation of the reasons for that determination to the Public Procurement Review Board. If the Public Procurement Review Board determines that competitive sealed bidding is either not practicable or not advantageous to the state, then a contract may be entered into for the procurement of commodities, supplies, equipment, construction, technology, personal and professional services, state agency purchased employee benefits or state agency supplemental insurance and cafeteria plans, by a request for proposals or request for qualifications. However, these procurements contracted for through a request for proposals or request for qualifications may not be combined or included in a contract with other procurements that are required to be procured through competitive sealed bidding so as to avoid the statutory obligation for procurement through competitive sealed bidding. The board may modify or revoke its determination at any time, and the determination should be reviewed for current applicability from time to time.

In addition to determining whether a request for proposals or request for qualifications would be practicable and advantageous to the state, when making the decision to use a request for proposals or request for qualifications, the chief procurement officer shall consider the following factors:

(a) Whether quality, availability or capability is overriding in relation to price in procurements for research and development, technical supplies or services;

(b) Whether the initial installation needs to be evaluated together with later maintenance and service capabilities and what priority should be given to these requirements in the best interests of the state; and

(c) Whether the marketplace will respond better to a solicitation permitting not only a range of alternative proposals but evaluation and discussion of them before making the award.
Miss. Code Ann. § 31-19-33 — MS Code / Title 31 / Chapter 17 / Section 19-33
Miss. Code Ann. § 31-19-33
Status: in_force

Action against the state or any county, municipality, school district or political subdivision of the State of Mississippi for the payment of any bond issued thereby or for the payment of any coupon representing interest on such bond shall be commenced within twenty (20) years after the maturity date of such bond.
Miss. Code Ann. § 31-25-35 — MS Code / Title 31 / Chapter 3 / Section 25-35
Miss. Code Ann. § 31-25-35
Status: in_force

The bank shall submit to the Governor within ninety (90) days after the end of its fiscal year a complete and detailed report setting forth:

(a) Its operations and accomplishments;

(b) Its receipts and expenditures during such fiscal year;

(c) Its assets, including an itemized list of municipal securities held by it, and liabilities at the end of its fiscal year, including the status of reserve or other special funds together with a statement of changes in its assets, liabilities and funds during such fiscal year; and

(d) A schedule of its bonds outstanding at the end of its fiscal year, together with a statement of the amounts redeemed and incurred during such fiscal year.

The bank shall cause an audit of its books and accounts to be made at least once a year by certified public accountants and the cost thereof shall be considered an expense of the bank and a copy thereof shall be filed with the State Treasurer.
Miss. Code Ann. § 31-17-181 — MS Code / Title 31 / Chapter 8 / Section 17-181
Miss. Code Ann. § 31-17-181
Status: in_force

Any notes sold and issued under the provisions of Sections 31-17-151 through 31-17-181 may, in the discretion of the commission, be validated in the Chancery Court of the First Judicial District of Hinds County, Mississippi, in the manner and with the force and effect provided now or hereafter by Chapter 13, Title 31, Mississippi Code of 1972 , for the validation of municipal bonds.
Miss. Code Ann. § 31-31-21 — MS Code / Title 31 / Chapter 19 / Section 31-21
Miss. Code Ann. § 31-31-21
Status: in_force

All bonds and interest coupons issued under the provisions of this chapter have all the qualities and incidents of negotiable instruments under the provisions of the Mississippi Uniform Commercial Code, and in exercising the powers granted by this chapter, the State Bond Commission shall not be required to and need not comply with the provisions of the Mississippi Uniform Commercial Code.
Miss. Code Ann. § 31-17-179 — MS Code / Title 31 / Chapter 3 / Section 17-179
Miss. Code Ann. § 31-17-179
Status: in_force

If any one or more sections, clauses, sentences or parts of Sections 31-17-151 through 31-17-181 shall for any reason be questioned in any court and shall be adjudged unconstitutional or invalid, such judgment shall not affect, impair or invalidate the remaining provisions of Sections 31-17-151 through 31-17-181 , but shall be confined in its operations to the specific provisions so held invalid, and inapplicability or invalidity of any such section, clause, sentence or part shall not be taken to affect or prejudice in any way the remaining part or parts of Sections 31-17-151 through 31-17-181 .
Miss. Code Ann. § 31-17-1 — MS Code / Title 31 / Chapter 3 / Section 17-1
Miss. Code Ann. § 31-17-1
Status: in_force

The State Bond Commission shall be composed of the Governor, the Attorney General, and the State Treasurer.
Miss. Code Ann. § 31-31-31 — MS Code / Title 31 / Chapter 15 / Section 31-31
Miss. Code Ann. § 31-31-31
Status: in_force

The bonds authorized under this chapter may be issued without any other proceedings or the happening of any other conditions or things other than those proceedings, conditions and things that are specified or required by this chapter. Any resolution providing for the issuance of bonds under this chapter shall become effective immediately upon its adoption by the State Bond Commission, and any such resolution may be adopted at any regular or special meeting of the State Bond Commission by a majority of its members.
Miss. Code Ann. § 31-31-7 — MS Code / Title 31 / Chapter 19 / Section 31-7
Miss. Code Ann. § 31-31-7
Status: in_force

The commission shall have the following powers:

(a) To sue and be sued in its own name;

(b) To maintain offices at such places as it may designate;

(c) To establish, construct, enlarge, improve, maintain, equip, operate and regulate the facility and other property incidental thereto, including any additional property or facilities considered by the commission to promote the business, usage or economic viability of the facility;

(d) To grant to others the privilege to operate for profit concessions, leases and franchises, including but not limited to, the furnishing of food and banquet services, management services, and other services necessary to the operation of the facility and such concessions, leases and franchises shall be exclusive or limited;

(e) To determine fees, rates and charges for the use of its facilities;

(f) To apply for and accept gifts, or grants of money or gifts, grants or loans of other property or other financial assistance from any source;

(g) To borrow funds needed to carry out the purposes of this chapter; provided, however, that such debt may be secured only by the revenues generated by the facility, funds generated by the tax levied pursuant to Section 31-31-11 and the proceeds of any bonds issued pursuant to this chapter;

(h) To appoint, employ or engage such officers, employees, architects, engineers, attorneys, accountants, financial advisors, investment bankers and other advisors, consultants, and agents as may be necessary or appropriate;

(i) To make, assume and enter into all contracts, leases and arrangements necessary or incidental to the exercise for its powers, including contracts for management, operation or marketing of all or any part of its facilities;

(j) To adopt, amend and repeal rules and regulations for the use, maintenance and operation of its facilities and governing the conduct of persons and organizations using its facilities and to enforce such rules and regulations; and

(k) To do all things necessary or convenient to the purposes of this chapter.
Miss. Code Ann. § 31-25-25 — MS Code / Title 31 / Chapter 8 / Section 25-25
Miss. Code Ann. § 31-25-25
Status: in_force

Under this act the bank may not:

(a) Make loans of money to any person, firm or corporation or purchase securities issued by any person, firm or corporation other than a local governmental unit for investment;

(b) Emit bills of credit, or accept deposits of money for time or demand deposit, or administer trusts, or engage in any form or manner in, or in the conduct of, any private or commercial banking business, or act as a savings bank or savings and loan association;

(c) Be or constitute a bank or trust company within the jurisdiction or under the control of any official of the state or the United States regulating such institutions; or

(d) Be or constitute a banker, broker or dealer in securities within the meaning of or subject to the provisions of any securities, securities exchange, or securities dealers law, of the United States of America or of the state or of any other state.
Miss. Code Ann. § 31-21-5 — MS Code / Title 31 / Chapter 13 / Section 21-5
Miss. Code Ann. § 31-21-5
Status: in_force

Notwithstanding any law or any provision of any law to the contrary, the following additional and supplemental powers and authorizations are hereby granted to the state and each political subdivision in connection with the issuance of any bonds:

(a) Such bonds may be issued in fully registered or book-entry form;

(b) All signatures and seals appearing on such bonds as required or permitted by law may be facsimile signatures and seals;

(c) Such bonds may be made subject to such authentication, registration, transfer and payment provisions as shall be set forth in the proceedings authorizing such bonds and the same may be made in such manner as shall be provided in such proceedings;

(d) The State Treasurer, the chancery clerk of the county or the chancery clerk of the county in which the political subdivision is located or has its principal office may act as registrar, paying agent, transfer agent, agent for the delivery and payment of such bonds, authenticating agent or otherwise, and the State Treasurer may collect a reasonable fee from the political subdivision for rendering such services;

(e) Banks and trust companies located either within or without the state may be appointed to act as registrars, paying agents, transfer agents, depositories for safekeeping, agents for the delivery and payment of such bonds, authenticating agents or otherwise, and agreements may be entered into with such banks and trust companies with respect to such duties and payment therefor;

(f) Any agreements to be entered into pursuant to paragraph (e) above may be negotiated without the necessity of competitive bids, and any payments to be made pursuant to such agreements may be made from the proceeds of the bonds to which such agreements apply or from any other moneys legally available therefor; and

(g) All things may be done regarding the form, execution, authentication, transfer and payment of such bonds which may be helpful in assuring compliance with any federal law applicable to such bonds or the interest income thereon and in assuring that such bonds will be readily acceptable in the municipal bond market, provided the same is not inconsistent with the constitution of the state.
Miss. Code Ann. § 31-15-19 — MS Code / Title 31 / Chapter 9 / Section 15-19
Miss. Code Ann. § 31-15-19
Status: in_force

Any bonds issued under the provisions of Sections 31-15-1 through 31-15-19 may be validated under Sections 31-13-1 through 31-13-11 .
Miss. Code Ann. § 31-15-1 — MS Code / Title 31 / Chapter 1 / Section 15-1
Miss. Code Ann. § 31-15-1
Status: in_force

Sections 31-15-1 through 31-15-19 may be cited as the “General Refunding Law of 1934.”
Miss. Code Ann. § 31-17-115 — MS Code / Title 31 / Chapter 17 / Section 17-115
Miss. Code Ann. § 31-17-115
Status: in_force

In anticipation of the issuance of the notes herein authorized, the commission may authorize and issue interim certificates payable to bearer or to the purchaser of the notes. Such interim certificates may be in such form and may contain such terms, conditions or provisions and such agreement or agreements relating to their discharge, through the delivery of the notes, as the commission may by resolution or resolutions determine.

Notwithstanding the foregoing provisions of this section, bonds referred to hereinabove may be issued pursuant to the supplemental powers and authorizations conferred by the provisions of the Registered Bond Act, being Sections 31-21-1 through 31-21-7 .
Miss. Code Ann. § 31-31-19 — MS Code / Title 31 / Chapter 19 / Section 31-19
Miss. Code Ann. § 31-31-19
Status: in_force

The bonds authorized under this chapter shall be signed by the Chairman of the State Bond Commission, or by his facsimile signature, and the official seal of the State Bond Commission shall be affixed thereto, attested by the Secretary of the State Bond Commission. The interest coupons, if any, to be attached to such bonds may be executed by the facsimile signatures of such officers. Whenever any such bonds shall have been signed by the officials designated to sign the bonds who were in office at the time of such signing but who may have ceased to be such officers before the sale and delivery of such bonds, or who may not have been in office on the date such bonds may bear, the signatures of such officers upon such bonds and coupons shall nevertheless be valid and sufficient for all purposes and have the same effect as if the person so officially signing such bonds had remained in office until their delivery to the purchaser, or had been in office on the date such bonds may bear. However, notwithstanding anything in this chapter to the contrary, such bonds may be issued as provided in the Registered Bond Act of the State of Mississippi.
Miss. Code Ann. § 31-7-14 — MS Code / Title 31 / Chapter 5 / Section 7-14
Miss. Code Ann. § 31-7-14
Status: repealed

(1)(a) For purposes of this section, the following words and phrases shall have the meaning ascribed herein, unless the context clearly indicates otherwise:

(i) “ Division ” means the Energy Division of the Mississippi Development Authority.

(ii) “ Energy services ” or “ energy efficient services ” means energy efficiency equipment, services relating to the installation, operation and maintenance of equipment and improvements reasonably required to existing or new equipment and existing or new improvements and facilities including, but not limited to, heating, ventilation and air-conditioning systems, lighting, windows, insulation and energy management controls, life safety measures that provide long-term, operating-cost reductions, building operation programs that reduce operating costs, alternative fuel motor vehicles including vehicles that have been converted to such and ancillary equipment related to or associated with the fueling of alternative fuel motor vehicles, or other energy-conservation-related improvements, including improvements or equipment related to renewable energy, water and other natural resources conservation, including accuracy and measurement of water distribution and/or consumption, and other equipment, services and improvements providing verifiable cost savings.

(iii) “ Energy services provider ” means a person or business with a successful record of documented energy savings projects that is experienced in the design, implementation and installation of energy conservation measures; has the technical capabilities to verify that such measures generate energy and operational cost savings or enhanced revenues; has the ability to guarantee the savings; has the ability to secure or arrange the financing necessary to support the implementation of the energy conservation measures; and is approved by the division.

Approval by the division of an energy services provider shall be granted in a prequalification process.

Such energy services providers may petition the division to review their qualifications and deem them to be qualified for inclusion on a prequalification list if they meet the qualifications set forth by the division.

Any energy services project that has been competitively bid and awarded prior to any change in law shall be allowed to continue under the laws current at the time the project was awarded.

The division shall ensure that small businesses are not disadvantaged in the determination of a qualified energy services provider.

(iv) “ Entity ” means the board of trustees of any public school district, junior college, institution of higher learning, publicly owned hospital, state agency or governmental authority under this chapter.

(v) “ Energy services contract ” means an agreement to provide energy services which include, but are not limited to, the design, installation, financing and maintenance or management of the energy systems or equipment in order to improve its energy efficiency. Payments for the contract are not contingent upon the actual savings realized from the equipment.

(vi) “ Energy performance contract ” means an agreement to provide energy services which includes, but is not limited to, the design, installation, financing and maintenance or management of the energy systems or equipment in order to improve its energy efficiency.

(vii) “ Shared-savings contract ” means an agreement where the contractor and the entity each receive a preagreed percentage or dollar value of the energy cost savings over the life of the contract.

(viii) “ Reduce operating costs ” means elimination of future expenses or avoidance of future replacement expenditures as a result of new equipment installed or services performed. Material savings, labor savings, cancelled maintenance contracts, et cetera, shall be considered as being viable to reduce operating costs. Reduce operating costs may be included in the performance contract or energy services agreement solely at the discretion of the entity. A contract that otherwise satisfies the requirements of this section shall satisfy the requirements allowing use of an energy performance, energy services or shared-savings contract even if the sole expense being eliminated is maintenance expense.

(ix) “ Capital cost avoidance ” means planned capital improvement expenditures that will be avoided through implementation of the energy services project. Capital cost avoidance may be included in an energy services contract or an energy performance contract solely at the discretion of the entity. Capital cost avoidance may be claimed as an annual avoidance or as a one-time avoidance in a specific year of the contract term, depending upon the nature of the avoided capital cost.

(x) “ Alternative fuel motor vehicle ” means a motor vehicle propelled by alternative fuel either as a dedicated alternative fuel vehicle, as a bi-fuel vehicle using alternative fuel as one of its fuels, or as a dual fuel vehicle using alternative fuel as one of its fuels.

(xi) “ Energy conservation measure ” means the individual items or components of a large energy services or energy efficient services program.

(xii) “ Simple payback period ” means the amount of time for the recuperation of the initial investment. The simple payback period is calculated by dividing the initial investment by the annual savings. The simple payback period for any contract shall not exceed twenty (20) years. The simple payback period of an individual energy conservation measure shall not be considered in any evaluation provided the simple payback period for the contract does not exceed twenty (20) years.

(b) An entity may enter into an energy services contract, energy performance contract, shared-savings contract, any of which may contain a lease, or lease-purchase contract for energy efficiency equipment, services relating to the installation, operation and maintenance of equipment or improvements reasonably required to existing or new equipment and existing or new improvements and facilities and shall contract in accordance with the following provisions:

(i) The division may assemble a list of prequalified energy services providers. The division shall use objective criteria in the selection process. The criteria for evaluation shall include, but shall not be limited to, the following factors: to assess the capability of the qualified energy services provider in the area of design engineering, installation, maintenance and repairs associated with energy services or guaranteed energy performance contracts; qualifications including engineering depth and experience, post-installation project monitoring, data collection, and verification of and reporting of savings; overall project experience and qualifications; management capability; ability to access long-term sources of project financing; financial health and stability, litigation history with customers and other factors determined by the division to be relevant and appropriate and related to the ability to perform the project. The division shall either accept or reject an application for prequalification from an energy services provider within sixty (60) days after receipt. If the division fails to act within sixty (60) days from the date of receiving an application, then the application shall automatically be accepted and the energy services provider shall be added to the prequalified list.

(ii) An entity shall publicly issue requests for proposals, advertised in the same manner as provided in Section 31-7-13 for seeking competitive sealed bids, concerning the provision of energy efficiency services relating to the installation, operation and maintenance of equipment, improvements reasonably required to existing or new equipment and existing or new improvements and facilities or the design, installation, ownership, operation and maintenance of energy efficiency equipment. Those requests for proposals shall contain terms and conditions relating to submission of proposals, evaluation and selection of proposals, financial terms, legal responsibilities, and any other matters as the entity determines to be appropriate for inclusion.

(iii) Upon receiving responses to the request for proposals, the entity may select the most qualified proposal or proposals on the basis of experience and qualifications of the proposers, the technical approach, the financial arrangements, the overall benefits to the entity and any other relevant factors determined to be appropriate.

(iv) An entity shall negotiate and enter into contracts with the person, persons, firm or firms submitting the proposal selected as the most qualified under this section.

(v) The annual rate of interest paid under any lease-purchase agreement authorized by this section shall not exceed the maximum interest rate to maturity on general obligation indebtedness permitted under Section 75-17-101 .

(vi) The maximum lease-purchase term for any equipment acquired under this section shall not exceed the lesser of twenty (20) years or the average useful life of the energy conservation measures from the date the energy conservation measures have been completed and accepted by the governmental unit.

(vii) This subsection shall, with respect to the procurement of energy efficiency services and/or equipment, supersede any contradictory or conflicting provisions of Chapter 7, Title 31, Mississippi Code of 1972 , and other laws with respect to awarding public contracts.

(2)(a) The division may contract with a party selected under this subsection to provide financing to entities and private “nonprofit” hospitals, to purchase energy efficiency equipment, services relating to the installation, operation and maintenance of equipment or improvements reasonably required to existing or new equipment and existing or new improvements and facilities or an energy saving performance contract, energy services contract, or lease-purchase basis. Any energy efficiency lease financing contract entered into by the division before May 15, 1992, shall be valid and binding when the contract was entered into under this subsection.

(b) The entities and private “nonprofit” hospitals that decide to contract for energy efficiency equipment, services relating to the installation, operation and maintenance of equipment or improvements reasonably required to existing or new equipment and existing or new improvements and facilities on a lease, energy services contract or lease-purchase basis, may request financial assistance from the division.

(c) The provisions of any energy efficiency lease-purchase agreements authorized under this subsection (2) shall comply with the requirements of subsection (1)(b)(v) of this section. The term of any lease or lease-purchase agreement for energy efficiency services and/or equipment entered into under this section shall not exceed twenty (20) years, commencing on the completion of the installation of equipment or improvements under the contract.

(d) Any entity or private “nonprofit” hospital having approval of the division may borrow money in anticipation of entering into a lease-purchase agreement pursuant to subsection (2)(b) of this section. Any borrowing may be upon terms and conditions as may be agreed upon by the borrowing entity and the party advancing interim funds; however, the principal on any borrowing shall be repaid within a period of time not to exceed one hundred eighty (180) days. In borrowing money under this paragraph (d), it is not necessary to publish notice of intention to do so or to secure the consent of the qualified electors, either by election or otherwise. Any borrowing may be negotiated between the parties and is not required to be publicly bid, may be evidenced by negotiable notes or lease and shall not be considered when computing any limitation of indebtedness of the borrowing entity established by law. The principal, interest and costs of incurring any borrowing shall not exceed the principal amount of the final contract or agreement approved by the division, and accepted by the borrowing entity, under subsection (2)(b) of this section.

(e) This subsection (2) shall, with respect to the procurement of energy efficiency services and/or equipment, supersede the provisions of any contradictory or conflicting provisions of Chapter 7, Title 31, Mississippi Code of 1972 , and other laws with respect to awarding public contracts.

(3) All lease-purchase agreements authorized by this section and the income from those agreements shall be exempt from all taxation within the State of Mississippi, except gift, transfer and inheritance taxes.

(4)(a) An entity may contract for energy efficiency equipment services relating to the installation, operation or maintenance of equipment or improvements reasonably required to existing or new equipment and existing or new improvements and facilities on a shared-savings basis or performance basis.

(b) If an entity decides to enter into a contract for energy efficiency equipment, services relating to the installation, operation or maintenance of equipment or improvements reasonably required to existing or new equipment and existing or new improvements and facilities on a shared-savings basis or performance basis, the entity shall issue a request for proposals or a request for qualifications, as determined necessary by the division, in the same manner as prescribed under subsection (1)(b) of this section. The entity shall notify the division in writing of its intention to issue a request for proposals or a request for qualifications.

(c) The terms of any shared-savings contract, energy services contract, or energy performance contract entered into under this section may not exceed twenty (20) years, commencing on the completion of the installation of equipment or improvements under the contract.

(d) The terms of any shared-savings or energy performance contract entered into under this section must contain a guarantee of savings clause from the company providing energy efficiency equipment services relating to the installation, operation and maintenance of equipment or improvements reasonably required to existing or new equipment and existing or new improvements and facilities.

(5)(a) By March 1 and September 1 of each year, each entity that enters into an energy performance contract or shared-savings contract shall report to the division its energy usage by meter in dollars and consumption by fuel type for the previous six-month period determined by the division.

(b) The division shall remove qualified status of an energy services provider that fails to meet the reporting requirements of paragraph (a) of this subsection after two (2) such violations.

(c) Any costs associated with the reporting made under this subsection (5) shall be paid by the energy services provider.

(6) The contract may be construed to provide flexibility to public agencies in structuring agreements entered into hereunder so that economic benefits may be maximized.

(7) This section shall stand repealed on July 1, 2025.
Miss. Code Ann. § 31-17-165 — MS Code / Title 31 / Chapter 17 / Section 17-165
Miss. Code Ann. § 31-17-165
Status: in_force

The commission is hereby authorized to do such other acts and enter into such other agreements as may be needed or be appropriate in connection with the sale, issuance and payment of the notes and any program developed by the commission in relation thereto.
Miss. Code Ann. § 31-31-33 — MS Code / Title 31 / Chapter 25 / Section 31-33
Miss. Code Ann. § 31-31-33
Status: in_force

The bonds authorized under the authority of this chapter may be validated in the Chancery Court of the First Judicial District of Hinds County, Mississippi, in the manner and with the force and effect provided by this chapter, for the validation of county, municipal, school district and other bonds. The notice to taxpayers required by such statutes shall be published in a newspaper published or having a general circulation in the City of Jackson, Mississippi.
Miss. Code Ann. § 31-25-103 — MS Code / Title 31 / Chapter 18 / Section 25-103
Miss. Code Ann. § 31-25-103
Status: in_force

(1) The commission acting through the department is hereby authorized, in connection with the issuance of bonds by the Mississippi Development Bank, to provide funds to deposit into the revolving fund and to enter into agreements pursuant to which such bonds shall be made payable, as to both principal, premium, if any, and interest, from such of the income, proceeds, revenues and funds from time to time in or payable into the revolving fund as shall be specified in such agreement. In the discretion of the commission, such bonds may be further secured by a mortgage, trust agreement, trust indenture or assignment among the bank, the commission and a trustee, which trustee (and any depository specified in any mortgage, trust agreement or assignment) shall be such persons or corporations as the bank or the commission shall designate, including nonresidents of Mississippi and banks and trust companies incorporated under the laws of the United States or the laws of other states of the United States, which nonresident banks or trust companies may enter into such mortgages, trust agreements and assignments and perform all obligations under and related to such mortgages, trust agreements and assignments without being required to qualify to do business in the State of Mississippi, or to make any filings or take any other action as a result of acting as trustee under any applicable laws of the State of Mississippi and regardless of whether they shall have so qualified or made such filings or taken such action. Such agreement, trust indenture, assignment or mortgage may include any provisions authorized pursuant to Section 31-25-39 , any other covenants deemed necessary to make such bonds secure and marketable and such provisions for protecting and enforcing the rights and remedies of the bondholders as are reasonable and proper and not in violation of law, including, but without limitation, covenants regarding: the application of the bond proceeds and the procedures therefor; the pledging, application and securing of the income, proceeds, revenues, funds, property or other collateral (or any combination thereof) pledged to the repayment of such bonds; the creation and maintenance of reserves; the investment of funds; the issuance of additional bonds for any authorized purposes which shall be secured by the income, proceeds, revenues, funds, property or other collateral (or any combination thereof) pledged thereunder for such bonds to the extent provided therein; the operation and maintenance of facilities; accounts and audits; the sale of properties; remedies of bondholders; requirements for local participation or funding of part of the costs of projects from other sources; limitations on the percentage of costs of a project which may be paid with loans from the revolving fund; maximum amounts for any loan from the revolving fund; interest rates, methods for computing interest rates, or criteria to be applied in determining interest rates, with respect to loans; maximum terms for loans; criteria applicable to determining amortization schedules for loans; requirements for a dedicated source of revenue for repayment of loans; conditions under which proceeds of a loan may be used to purchase or refinance existing debt obligations; other criteria applicable to determining eligibility for a loan; the vesting in a trustee or trustees of such powers and rights as may be necessary to secure the bonds and the income, proceeds, revenues, funds, property or other collateral (or any combination thereof) from which they are payable; the terms and conditions upon which bondholders may exercise their rights and remedies; the definition of an event of default; and the consequences and remedies upon the occurrence of an event of default, including without limitations, the exercise by or on behalf of the bondholders of rights of secured parties under the Mississippi Uniform Commercial Code or otherwise generally available to secured parties or the appointment of a receiver, by any court of competent jurisdiction, to administer any properties and facilities pledged thereunder, including authority to sell or make contracts for the sale of any services, facilities or commodities or to renew such contracts, subject to the approval of the court appointing the receiver, and with power to provide for the payment of such bonds outstanding, or the payment of operating expenses, and to apply the income and revenues to the payment of the bonds and interest thereon in accordance with the resolution authorizing the issuance of such bonds or the mortgage, assignment, trust indenture or other instrument. The powers herein granted may be exercised whether or not a trust agreement is entered into and, if no trust agreement is entered into, such provisions as are above authorized may be set out in a resolution of the commission or an agreement between the commission and the bank.

(2) All income, proceeds, revenues, funds, property or other collateral (or any combination thereof) pledged to the payment of such bonds shall be subject to a lien in favor of the holders of such bonds, and all such income, proceeds, revenues, funds, property or other collateral (or any combination thereof) shall be immediately subject to such lien without any physical delivery thereof or further act by the bank, the commission or the state and such lien shall be effective as against all parties asserting claims against the bank, the commission, the state or any agency thereof, whether by way of tort, contract or otherwise, whether or not such parties may have had notice of such lien. The mortgages, assignments, trust indentures or other instruments creating such pledge need not be filed or recorded except in the official minutes of the State Bond Commission.

(3) Monies in the revolving fund shall be subject to such restrictions, if any, as may be contained in any agreement or resolution referred to in subsection (1) of this section or any agreements executed in connection with any guarantees, bond insurance, letters of credit or other credit enhancements relating to such bonds.

(4) Any holder of bonds issued under the provisions of this article or of any interest coupons appertaining thereto may, either at law or in equity, by suit, action, mandamus, or other proceeding, protect and enforce any and all rights granted under any agreement, or under any resolution, and may enforce and compel performance of all duties required by this article to be performed, in order to provide for the payment of bonds and interest thereon.

(5) Any resolution relating to the issuance of bonds under the provisions of this article shall become effective immediately upon its adoption by the bank, and any such resolution may be adopted at any regular, special or recessed meeting of the commission by a majority of its members. In any suit, action or proceeding involving the validity or enforceability of any bond issued under this article, or the security therefor, any such bond reciting in substance that it has been issued pursuant to this article shall be conclusively deemed to have been issued for such purpose.

(6) The state does hereby covenant with the holders of any such bonds that it will not, while any such bonds shall be outstanding, limit or diminish the right and power of any political subdivision to establish, maintain and collect rates, fees, rentals and other charges pledged to the payment of such bonds, or the power of the commission to fulfill any covenants made with such bondholders.
Miss. Code Ann. § 31-19-31 — MS Code / Title 31 / Chapter 9 / Section 19-31
Miss. Code Ann. § 31-19-31
Status: in_force

Any bonds hereafter issued to the United States of America to finance in part the construction, erection, or equipment of any state hospital of the State of Mississippi, or any series, class, or installment of such bonds may bear interest at such rate or rates of interest not exceeding four per centum (4%) per annum and may be subject to such terms of redemption with or without premium as the commission or officials authorized to issue such bonds may determine, notwithstanding that such bonds may be part of a series, class, or installment of bonds bearing a greater or less rate of interest, and notwithstanding that such bonds may be a part of any series, class, or installment containing other and different terms of redemption.
Miss. Code Ann. § 31-31-9 — MS Code / Title 31 / Chapter 11 / Section 31-9
Miss. Code Ann. § 31-31-9
Status: in_force

All monies and revenues collected by the commission from fees, rates and charges for the use of its facilities shall be paid by the commission to the State Treasurer, to be deposited to the credit of a special fund to be known as the Mississippi Telecommunication Conference and Training Center Fund. Money in the fund at the end of a fiscal year shall not lapse into the General Fund and interest earned on any amounts deposited into the fund shall be credited to the special fund. Except as otherwise provided in Section 31-31-11 , all expenses incident to the operation and upkeep of the facility shall be paid out of the fund.
Miss. Code Ann. § 31-31-35 — MS Code / Title 31 / Chapter 25 / Section 31-35
Miss. Code Ann. § 31-31-35
Status: in_force

Any holder of bonds issued under this chapter or of any of the interest coupons pertaining to the bonds may, either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce all rights granted under this chapter, or under such resolution, and may enforce and compel performance of all duties required by this chapter to be performed, in order to provide for the payment of bonds and interest on the bonds.
Miss. Code Ann. § 31-7-109 — MS Code / Title 31 / Chapter 1 / Section 7-109
Miss. Code Ann. § 31-7-109
Status: in_force

The receiving clerk or his assistants shall, upon proper delivery of equipment, heavy equipment, machinery, supplies, commodities, materials or services, acknowledge receipt of goods in compliance with a receipting system prescribed by the State Department of Audit under the authority of Section 7-7-211 and in accordance with Section 31-7-113 , and the receiving clerk shall be responsible for the maintenance of such system.
Miss. Code Ann. § 31-31-35 — MS Code / Title 31 / Chapter 29 / Section 31-35
Miss. Code Ann. § 31-31-35
Status: in_force

Any holder of bonds issued under this chapter or of any of the interest coupons pertaining to the bonds may, either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce all rights granted under this chapter, or under such resolution, and may enforce and compel performance of all duties required by this chapter to be performed, in order to provide for the payment of bonds and interest on the bonds.
Miss. Code Ann. § 31-17-33 — MS Code / Title 31 / Chapter 13 / Section 17-33
Miss. Code Ann. § 31-17-33
Status: in_force

The purpose of Sections 31-17-27 through 31-17-43 is to create a fund for the ultimate retirement of the full faith and credit bonds of the State of Mississippi issued and outstanding as of July 1, 1944, and to set aside, earmark, and irrevocably pledge from the cash now in or to be added to the general fund of the state treasury a sum sufficient to pay all outstanding full faith and credit bonds of the State of Mississippi. To that end, therefore, not less than fifteen (15) days prior to each maturity date of full faith and credit bonds authorized to be retired from funds in the state bond retirement revolving fund under the provisions of said sections, an amount sufficient to pay the principal thereof at such maturity date shall be made available by the state bond retirement commission and shall be withdrawn from the state bond retirement revolving fund upon the order of the commission for the payment thereof, as provided by law. This process shall continue and like withdrawals shall be made at each succeeding maturity date of full faith and credit bonds authorized to be retired from funds in the state bond retirement revolving fund until the said state bond retirement revolving fund shall be exhausted or until all full faith and credit bonds of the state outstanding at July 1, 1944, shall be fully paid and satisfied. When all such bonds are paid, any balance remaining in said state bond retirement revolving fund shall be transferred to the general fund of the state.
Miss. Code Ann. § 31-18-11 — MS Code / Title 31 / Chapter 1 / Section 18-11
Miss. Code Ann. § 31-18-11
Status: in_force

Any interest rate exchange or similar agreements entered into pursuant to Section 31-18-9 shall be subject to the following limitations:

(a) The counterparty thereto shall have credit ratings from at least one nationally recognized statistical rating agency that is within the two (2) highest investment grade categories and ratings which are obtained from any other nationally recognized statistical rating agencies shall also be within the three (3) highest investment grade categories, or the payment obligations of the counterparty shall be unconditionally guaranteed by an entity with such credit ratings;

(b) The written contract shall require that should the rating: (i) of the counterparty, if its payment obligations are not unconditionally guaranteed by another entity, or (ii) of the entity unconditionally guaranteeing its payment obligations, if so secured, fall below the rating required by paragraph (a) of this section, that the obligations of such counterparty shall be fully and continuously collateralized by direct obligations of, or obligations the principal and interest on which are guaranteed by the United States of America with a net market value of at least one hundred two percent (102%) of the net market value of the contract of the authorized insurer and such collateral shall be deposited as agreed to by the commission;

(c) The counterparty has a net worth of at least One Hundred Million Dollars ($100,000,000.00), or the counterparty's obligations under the interest rate exchange or similar agreement are guaranteed by a person or entity having a net worth of at least One Hundred Million Dollars ($100,000,000.00);

(d) The total notional amount of all interest rate exchange or similar agreements for the state to be in effect shall not exceed an amount equal to twenty percent (20%) of the total amount of state-supported debt outstanding as of the initial date of entering into each new agreement; however, such total notional amount shall not include any excluded agreements;

(e) No interest rate exchange or similar agreement shall have a maturity exceeding the maturity of the related state-supported debt;

(f) Each interest rate exchange or similar agreement shall be subject to a finding by the commission that its terms and conditions reflect a fair market value of such agreement as of the date of its execution, regardless of whether such agreement was solicited on a competitive or negotiated basis with a competitive element; and

(g) Each interest rate exchange or similar agreement, including the modification or termination thereof, shall be subject to the approval of the commission or its designee.
Miss. Code Ann. § 31-7-421 — MS Code / Title 31 / Chapter 5 / Section 7-421
Miss. Code Ann. § 31-7-421
Status: in_force

The chief procurement officer shall establish a common date and time for the submission of best and final offers. Best and final offers shall be submitted only once; however, the chief procurement officer may make a written determination that it is in the state's best interest to conduct additional discussions or change the state's requirements and require another submission of best and final offers. Otherwise, no discussion of or changes in the best and final offers shall be allowed before the award. Offerers shall also be informed that if they do not submit a notice of withdrawal or another best and final offer, their immediate previous offer will be construed as their best and final offer.
Miss. Code Ann. § 31-17-113 — MS Code / Title 31 / Chapter 5 / Section 17-113
Miss. Code Ann. § 31-17-113
Status: in_force

The proceeds of the sale of the notes herein authorized shall be paid into the state treasury and used for the purpose herein provided, and for no other purposes.
Miss. Code Ann. § 31-25-45 — MS Code / Title 31 / Chapter 1 / Section 25-45
Miss. Code Ann. § 31-25-45
Status: in_force

The bank, subject to such agreements with bondholders as may then exist, shall have power out of any funds available therefor to purchase bonds of the bank, which shall thereupon be cancelled, at a price or prices as shall be determined by the bank.
Miss. Code Ann. § 31-25-103 — MS Code / Title 31 / Chapter 21 / Section 25-103
Miss. Code Ann. § 31-25-103
Status: in_force

(1) The commission acting through the department is hereby authorized, in connection with the issuance of bonds by the Mississippi Development Bank, to provide funds to deposit into the revolving fund and to enter into agreements pursuant to which such bonds shall be made payable, as to both principal, premium, if any, and interest, from such of the income, proceeds, revenues and funds from time to time in or payable into the revolving fund as shall be specified in such agreement. In the discretion of the commission, such bonds may be further secured by a mortgage, trust agreement, trust indenture or assignment among the bank, the commission and a trustee, which trustee (and any depository specified in any mortgage, trust agreement or assignment) shall be such persons or corporations as the bank or the commission shall designate, including nonresidents of Mississippi and banks and trust companies incorporated under the laws of the United States or the laws of other states of the United States, which nonresident banks or trust companies may enter into such mortgages, trust agreements and assignments and perform all obligations under and related to such mortgages, trust agreements and assignments without being required to qualify to do business in the State of Mississippi, or to make any filings or take any other action as a result of acting as trustee under any applicable laws of the State of Mississippi and regardless of whether they shall have so qualified or made such filings or taken such action. Such agreement, trust indenture, assignment or mortgage may include any provisions authorized pursuant to Section 31-25-39 , any other covenants deemed necessary to make such bonds secure and marketable and such provisions for protecting and enforcing the rights and remedies of the bondholders as are reasonable and proper and not in violation of law, including, but without limitation, covenants regarding: the application of the bond proceeds and the procedures therefor; the pledging, application and securing of the income, proceeds, revenues, funds, property or other collateral (or any combination thereof) pledged to the repayment of such bonds; the creation and maintenance of reserves; the investment of funds; the issuance of additional bonds for any authorized purposes which shall be secured by the income, proceeds, revenues, funds, property or other collateral (or any combination thereof) pledged thereunder for such bonds to the extent provided therein; the operation and maintenance of facilities; accounts and audits; the sale of properties; remedies of bondholders; requirements for local participation or funding of part of the costs of projects from other sources; limitations on the percentage of costs of a project which may be paid with loans from the revolving fund; maximum amounts for any loan from the revolving fund; interest rates, methods for computing interest rates, or criteria to be applied in determining interest rates, with respect to loans; maximum terms for loans; criteria applicable to determining amortization schedules for loans; requirements for a dedicated source of revenue for repayment of loans; conditions under which proceeds of a loan may be used to purchase or refinance existing debt obligations; other criteria applicable to determining eligibility for a loan; the vesting in a trustee or trustees of such powers and rights as may be necessary to secure the bonds and the income, proceeds, revenues, funds, property or other collateral (or any combination thereof) from which they are payable; the terms and conditions upon which bondholders may exercise their rights and remedies; the definition of an event of default; and the consequences and remedies upon the occurrence of an event of default, including without limitations, the exercise by or on behalf of the bondholders of rights of secured parties under the Mississippi Uniform Commercial Code or otherwise generally available to secured parties or the appointment of a receiver, by any court of competent jurisdiction, to administer any properties and facilities pledged thereunder, including authority to sell or make contracts for the sale of any services, facilities or commodities or to renew such contracts, subject to the approval of the court appointing the receiver, and with power to provide for the payment of such bonds outstanding, or the payment of operating expenses, and to apply the income and revenues to the payment of the bonds and interest thereon in accordance with the resolution authorizing the issuance of such bonds or the mortgage, assignment, trust indenture or other instrument. The powers herein granted may be exercised whether or not a trust agreement is entered into and, if no trust agreement is entered into, such provisions as are above authorized may be set out in a resolution of the commission or an agreement between the commission and the bank.

(2) All income, proceeds, revenues, funds, property or other collateral (or any combination thereof) pledged to the payment of such bonds shall be subject to a lien in favor of the holders of such bonds, and all such income, proceeds, revenues, funds, property or other collateral (or any combination thereof) shall be immediately subject to such lien without any physical delivery thereof or further act by the bank, the commission or the state and such lien shall be effective as against all parties asserting claims against the bank, the commission, the state or any agency thereof, whether by way of tort, contract or otherwise, whether or not such parties may have had notice of such lien. The mortgages, assignments, trust indentures or other instruments creating such pledge need not be filed or recorded except in the official minutes of the State Bond Commission.

(3) Monies in the revolving fund shall be subject to such restrictions, if any, as may be contained in any agreement or resolution referred to in subsection (1) of this section or any agreements executed in connection with any guarantees, bond insurance, letters of credit or other credit enhancements relating to such bonds.

(4) Any holder of bonds issued under the provisions of this article or of any interest coupons appertaining thereto may, either at law or in equity, by suit, action, mandamus, or other proceeding, protect and enforce any and all rights granted under any agreement, or under any resolution, and may enforce and compel performance of all duties required by this article to be performed, in order to provide for the payment of bonds and interest thereon.

(5) Any resolution relating to the issuance of bonds under the provisions of this article shall become effective immediately upon its adoption by the bank, and any such resolution may be adopted at any regular, special or recessed meeting of the commission by a majority of its members. In any suit, action or proceeding involving the validity or enforceability of any bond issued under this article, or the security therefor, any such bond reciting in substance that it has been issued pursuant to this article shall be conclusively deemed to have been issued for such purpose.

(6) The state does hereby covenant with the holders of any such bonds that it will not, while any such bonds shall be outstanding, limit or diminish the right and power of any political subdivision to establish, maintain and collect rates, fees, rentals and other charges pledged to the payment of such bonds, or the power of the commission to fulfill any covenants made with such bondholders.
Miss. Code Ann. § 31-15-1 — MS Code / Title 31 / Chapter 7 / Section 15-1
Miss. Code Ann. § 31-15-1
Status: in_force

Sections 31-15-1 through 31-15-19 may be cited as the “General Refunding Law of 1934.”
Miss. Code Ann. § 31-25-3 — MS Code / Title 31 / Chapter 5 / Section 25-3
Miss. Code Ann. § 31-25-3
Status: in_force

It is hereby determined and declared to be the policy of the state that, for the benefit of the people of the State of Mississippi, it is essential to foster and promote by all reasonable means the provision of adequate access to capital markets and facilities for borrowing money to finance infrastructure improvements and other public purposes from the proceeds of bonds and to the extent possible to reduce costs of indebtedness to taxpayers and residents of the state through the encouragement of investor interest in the purchase of such bonds as sound and preferred securities for investment. It is further found and declared that the state should exercise its powers to further and implement these policies by authorizing an independent public body to be created and to have full power to borrow money and to issue its bonds and notes to make funds available at reduced rates and on more favorable terms for borrowing as provided in this act. This act shall be liberally construed to accomplish the intentions, purposes and objects expressed herein.
Miss. Code Ann. § 31-17-175 — MS Code / Title 31 / Chapter 13 / Section 17-175
Miss. Code Ann. § 31-17-175
Status: in_force

All notes sold and issued under Sections 31-17-151 through 31-17-181 shall be fully negotiable in accordance with their terms and shall be “ securities ” within the meaning of Article 8 of the Uniform Commercial Code , subject to the provisions of such notes pertaining to registration. It shall not be necessary to file financing statements or continuation statements to protect the lien and pledge granted by the state to the holders of any notes issued under Sections 31-17-151 through 31-17-181 .
Miss. Code Ann. § 31-31-5 — MS Code / Title 31 / Chapter 1 / Section 31-5
Miss. Code Ann. § 31-31-5
Status: in_force

(1) There is hereby created a commission to be known as the “Mississippi Telecommunication Conference and Training Center Commission” which shall consist of eleven (11) members as follows:

(a) The Executive Director of the Department of Economic and Community Development;

(b) The Mayor of the City of Jackson;

(c) The President of Jackson State University;

(d) The Vice-Chancellor for Health Affairs of the University of Mississippi Medical Center;

(e) The Executive Director of the Metro Jackson Convention and Visitors Bureau;

(f) The Executive Director of the Institute for Technology Development;

(g) Three (3) members of the private sector appointed by the Governor, with the advice and consent of the Senate, to serve a term concurrent with that of the Governor; and

(h) Two (2) members of the private sector appointed by the Lieutenant Governor, with the advice and consent of the Senate, to serve a term concurrent with that of the Lieutenant Governor.

(2) The members of the commission shall serve without compensation except that members shall be paid their actual and necessary expenses in connection with the performance of their duties as members of the commission including mileage, as authorized in Section 25-3-41 and each member who is not a state employee or a public official shall be paid a per diem as authorized in Section 25-3-69 . Expenses, mileage and per diem allowance shall be paid out of the Mississippi Telecommunication Conference and Training Center Fund.

(3) The commission shall elect from its membership a chairman, who shall preside over meetings, and a vice chairman, who shall preside in the absence of the chairman. Four (4) members of the commission shall constitute a quorum for the transaction of any and all business of the commission.

(4) The commission shall appoint a director who shall be responsible for conducting the day-to-day business of the commission.

(5) From and after the date agreed upon by the Department of Finance and Administration and the Capital City Convention Center Commission:

(a) The Mississippi Telecommunication Conference and Training Center Commission shall be abolished;

(b) All records, personal property, funds and other assets and personnel of the commission shall be transferred to the Capital City Convention Center Commission, created by Chapter 1019, Local and Private Laws of 2004; however, the provisions of this paragraph (b) shall not apply to any monies deposited in the Mississippi Telecommunication Conference and Training Facility Reserve Fund pursuant to Section 31-31-11 ; and

(c) Any personal service, management or other contracts of like nature entered into by the commission shall be canceled.
Miss. Code Ann. § 31-31-27 — MS Code / Title 31 / Chapter 5 / Section 31-27
Miss. Code Ann. § 31-31-27
Status: in_force

The State Treasurer is authorized to certify to the State Fiscal Officer the necessity for warrants, and the State Fiscal Officer is authorized and directed to issue such warrants, in such amounts as may be necessary to pay when due the principal of, premium, if any, and interest on, or the accredited value of, all bonds issued under this chapter; and the State Treasurer shall forward the necessary amount to the designated place or places of payment of such bonds in ample time to discharge such bonds, or the interest on the bonds, on their due dates.
Miss. Code Ann. § 31-27-19 — MS Code / Title 31 / Chapter 13 / Section 27-19
Miss. Code Ann. § 31-27-19
Status: in_force

All refunding bonds issued under this chapter shall be fully negotiable in accordance with their terms and shall be “securities” within the meaning of Article 8 of the Uniform Commercial Code , subject to the provisions of such bonds pertaining to registration. It shall not be necessary to file financing statements or continuation statements to protect the lien and pledge granted by a governmental unit to the holders of any refunding bonds issued under this chapter.
Miss. Code Ann. § 31-23-61 — MS Code / Title 31 / Chapter 1 / Section 23-61
Miss. Code Ann. § 31-23-61
Status: in_force

The undesignated portion of the state's ceiling is hereby established in an amount equal to fifty percent (50%) of the state's ceiling. The undesignated portion shall include any amounts transferred to the undesignated portion by the board pursuant to this chapter. All allocations for bonds other than exempt small issue bonds shall be granted from the undesignated portion. Applications for notices of allocation from the undesignated portion shall be received and acted upon as follows:

(a) All applications shall be filed on a form promulgated from time to time by the board. The application form shall set forth: (i) the name and address of the issuer and each borrower; (ii) the dollar amount of the undesignated portion requested; (iii) whether the applicant requests that a partial allocation be granted in the event the board is unable to grant a notice of allocation for the full amount of the undesignated portion requested.

(b) In addition, applications filed on or after November 1 of each year shall be accompanied by the following:

(i) The items which are required to accompany applications for notices of allocation from the threshold portion set forth in Section 31-23-59(b)(i) or Section 31-23-59(b)(ii) , except that such items shall specify amounts as to the undesignated portion.

(ii) A written opinion of bond counsel, addressed to the board to the effect that the bonds which are covered by the application will, based upon the information available at that time to such bond counsel, qualify as tax-exempt bonds under applicable federal law when issued.

(iii) An allocation application fee of One Thousand Dollars ($1,000.00) to be deposited in the revolving fund provided for in Section 57-1-66 .

(c) The board shall stamp or otherwise designate the date and time on which it receives each application. The application shall be considered approved upon review and approval by the bond committee or its designee pursuant to rules, regulations or qualifying criteria promulgated by the board. The application shall be stamped approved when each of the items required under paragraphs (a) and (b) above, as applicable, has been received in proper form by the board and approved by the bond committee or its designee. Any application which is not in proper form and which is determined not to be an approved application may be corrected and refiled at any time. Receipt shall be deemed to occur only on a business day.

(d) Within ten (10) days or no later than the last business day of the calendar year after the board receives the approved application the board shall:

(i) Give its notice of allocation, approving the allocation requested by such application; or

(ii) Give its notice of partial allocation, approving less than the full amount of the allocation requested by such application, if the applicant has so requested a partial allocation in the event the board is unable to approve the allocation requested. In such event, if the applicant has requested that the allocation shortfall be treated as a separate application, such allocation shortfall shall be treated as though it were a separate application filed on the date and time on which the original application was filed; or

(iii) Give notice to the issuer that the allocation requested by the application has not been approved because the undesignated portion has been exhausted, or is insufficient to make the requested allocation and request written direction from the issuer or the borrower as to whether the board should retain the application for approval in the future or whether the application should be withdrawn or otherwise.

(e) Such notices of allocation shall be given with respect to approved applications in chronological order, by date and time, in which the approved applications were received by the board, shall bear an effective date beginning on the date of issuance of the notice of allocation, and shall bear an expiration date as follows:

(i) Sixty (60) calendar days from the date of issuance, if issued on or after January 1, and on or before October 15.

(ii) December 15, if issued after October 15 and prior to December 9.

(iii) Seven (7) calendar days from the date of issuance, if issued on or after December 9, but in no event shall an expiration date be later than December 31.

(f) If at any time none of the undesignated portion remains available for notices of allocation, but additional amounts of the undesignated portion become available later in the year because confirmation of issuance was not received by the board on or before the applicable expiration date for any notice of allocation or because the board has transferred any portion of the state's ceiling to the undesignated portion pursuant to this chapter, the board shall give a notice of allocation with respect to approved applications earlier received, including any approved applications which failed to receive a notice of allocation pursuant to paragraph (d) above or for which an allocation shortfall was treated as a separate application. Such notices of allocation shall be given to the extent that the undesignated portion becomes available at such later times, with respect to approved applications in chronological order, by date and time, in which they were received by the board.

(g) When bonds covered by a notice of allocation have been issued, confirmation of issuance shall be filed with the board on or before the expiration date.

(h) If confirmation of issuance is not received by the board on or before the applicable expiration date, the amount covered by the particular notice of allocation shall automatically be returned to, and added to, the undesignated portion, and shall be available for use in other notices of allocation; provided, if confirmation of issuance is received after the applicable expiration date, the board may, in its discretion and provided amounts are available for such project, treat such bonds as though confirmation of issuance had been received on or before the applicable expiration date.

(i) If confirmation of issuance is not received by the board on or before the applicable expiration date with respect to a notice of allocation from the undesignated portion, the issuer may file additional applications after the expiration date with respect to all or any part of the issue of bonds covered by such notice of allocation, but such applications shall be treated as filed on the next day after actually filed (and at the time of day such application was filed) for purposes of determining which applications shall receive a notice of allocation where the amount of approved applications on the actual day of filing exceeds the amount of the undesignated portion available at that time for notices of allocation.
Miss. Code Ann. § 31-11-31 — MS Code / Title 31 / Chapter 8 / Section 11-31
Miss. Code Ann. § 31-11-31
Status: in_force

The office of general services of the State of Mississippi is hereby authorized and empowered to act as the commission designated to perform all functions on behalf of the State of Mississippi as provided for and required in Public Law No. 88-204 of the 88th Congress of the United States of America and being entitled “Higher Education Facilities Act of 1963” as thereafter amended, and the said office of general services is hereby granted such power and authority necessary for the purpose of performing for and on behalf of the State of Mississippi all things required to be done and performed by the office of general services as specified in said Public Law No. 88-204 of the 88th Congress of the United States government, as thereafter amended.
Miss. Code Ann. § 31-17-29 — MS Code / Title 31 / Chapter 8 / Section 17-29
Miss. Code Ann. § 31-17-29
Status: in_force

Until such funds are needed for the payment of outstanding full faith and credit bonds of the state as herein provided, the state bond retirement commission is hereby authorized to invest any funds held in the state bond retirement revolving fund in bonds, notes, certificates, and other interest bearing obligations which are a direct obligation of the United States of America, hereinafter referred to as federal securities.

Any federal securities so purchased shall be the property of the State of Mississippi, and the principal and any and all interest accruing on such federal securities shall be collected by the commission as an agency of the state and covered into the state bond retirement revolving fund as the same shall mature and accrue. The commission is hereby authorized to sell any federal securities belonging to the state bond retirement revolving fund whenever, in the judgment of the commission, such sale will be to the best interest of the state. Sales shall be made at the best price obtainable, and all funds realized therefrom shall be covered into the state bond retirement revolving fund.
Miss. Code Ann. § 31-3-16 — MS Code / Title 31 / Chapter 1 / Section 3-16
Miss. Code Ann. § 31-3-16
Status: in_force

All commercial contractors, in order to obtain a building permit in the State of Mississippi, shall possess a permit from the Department of Revenue issued under Section 27-65-27 .

Notwithstanding the definition of “contractor” in Section 31-3-1 , for purposes of this section, a commercial contractor is a person or entity contracting or offering to contract with an owner or possessor of commercial real estate to construct a building thereon, or to repair or renovate any portion of a building thereon, regardless of the cost of the project, and regardless of whether all or part of the cost is expected to be paid as a benefit of a property and casualty insurance policy.

This section shall not apply to a commercial contractor having a permanent place of business in the State of Mississippi or licensed under this chapter.
Miss. Code Ann. § 31-5-41 — MS Code / Title 31 / Chapter 3 / Section 5-41
Miss. Code Ann. § 31-5-41
Status: in_force

With respect to all public or private contracts or agreements, for the construction, alteration, repair or maintenance of buildings, structures, highway bridges, viaducts, water, sewer or gas distribution systems, or other work dealing with construction, or for any moving, demolition or excavation connected therewith, every covenant, promise and/or agreement contained therein to indemnify or hold harmless another person from that person's own negligence is void as against public policy and wholly unenforceable.

This section does not apply to construction bonds or insurance contracts or agreements.
Miss. Code Ann. § 31-27-13 — MS Code / Title 31 / Chapter 5 / Section 27-13
Miss. Code Ann. § 31-27-13
Status: in_force

The total amount of refunding bonds to be issued under this chapter shall be an amount sufficient to effect the refunding and may include an amount sufficient to pay (a) the principal amount of the refunded bonds, (b) interest accrued or to accrue to the date of maturity or the date of redemption of the bonds to be refunded (which need not necessarily be on the first available redemption date), (c) any redemption premiums to be paid thereon, (d) any reasonable expenses incurred in connection with such refunding, and (e) any other reasonable costs deemed appropriate by the governing body of the governmental unit, including, without limitation, the expenses of preparing and delivering the refunding bonds, legal fees, financial advisor fees, consultant fees, and other expenses incurred in connection with the issuance, sale and delivery of the refunding bonds.

Refunding bonds issued under this chapter shall result in an overall net present value savings to maturity of not less than two percent (2%) of the bonds being refunded.
Miss. Code Ann. § 31-25-39 — MS Code / Title 31 / Chapter 19 / Section 25-39
Miss. Code Ann. § 31-25-39
Status: in_force

In any resolution of the board of the bank authorizing, or relating to the issuance of any bonds, the board, in order to secure the payment of the bonds and in addition to its other powers, may covenant and contract with the holders of the bonds:

(a) To pledge to any payment or purpose all or any part of its revenues to which its right then exists or may thereafter come into existence, and the moneys derived therefrom, and the proceeds of any bonds including, but not limited to, any or all municipal securities held by the bank. Any such bonds may be additionally secured by a pledge of any grants, subsidies, contributions, or other funds or moneys from the United States or the state or any agency or instrumentality thereof, or any other governmental unit;

(b) To covenant against pledging all or any part of its revenues, or against permitting or suffering any lien on those revenues or its property;

(c) To pledge all or any part of the assets of the bank to secure the payment of the notes or bonds or of any issue of notes or bonds, subject to such agreements with holders of bonds as may then exist;

(d) To covenant as to the use and disposition of any payments of principal or interest received by the bank on municipal securities or other investments held by the bank;

(e) To covenant as to establishment of reserves or sinking funds, the making of provision for them and the regulation and disposition thereof;

(f) To covenant with respect to or against limitations on any right to sell or otherwise dispose of any property of any kind;

(g) To covenant as to any bonds to be issued by the bank, or by the local governmental unit the municipal securities of which are being purchased with the proceeds of an issue of bonds or notes of the bank, and their limitations and their terms and conditions and as to the custody, application and disposition of their proceeds, and pledging such proceeds to secure payment of bonds or any issue thereof;

(h) To contract with bond or note holders respecting the terms and conditions of agreements with the state or local governmental units made pursuant to the provisions of this chapter;

(i) To covenant as to the issuance of additional bonds or as to limitations on the issuance of additional bonds and on the incurring of other debts;

(j) To covenant as to the payment of the principal of or interest on the bonds, as to the sources and methods of payment, as to the rank or priority of any bonds with respect to any lien of security or as to the acceleration of the maturity of any bonds;

(k) To provide for the replacement of lost, stolen, destroyed or mutilated bonds;

(l) To covenant against extending the time for the payment of bonds or interest thereon;

(m) To covenant as to the redemption of bonds and privileges of exchange thereof for the other bonds of the bank;

(n) To covenant as to any charges to be established and charged, the amount to be raised each year or other period of time by charges or other revenues and as to the use and disposition to be made thereof;

(o) To limit the amount of money to be expended by the bank for operating expenses of the bank;

(p) To covenant to create or authorize the creation of special funds or moneys to be held in pledge or otherwise for operating expenses, payment or redemption of bonds, reserves or other purposes and as to the use and disposition of the moneys held in those funds;

(q) To establish the procedures, if any, by which the terms of any contract or covenant with or for the benefit of the holders of bonds may be amended or abrogated, the amount of bonds the holders of which must consent thereto, and the manner in which the consent may be given;

(r) To covenant as to the custody of any of its properties or investments, the safekeeping thereof, the insurance to be carried thereon, and the use and disposition of insurance moneys;

(s) To covenant as to the time and manner of enforcement or restraint from enforcement of any rights of the bank arising by reason of or with respect to nonpayment of principal or interest of any municipal securities;

(t) To provide for the rights and liabilities, powers and duties arising upon the breach of any covenant, condition or obligation and to prescribe the events of default and the terms and conditions upon which any or all of the bonds or other obligations of the bank shall become or may be declared due and payable before maturity and the terms and conditions upon which the declaration and its consequences may be waived or rescinded;

(u) To vest in a trustee or trustees within or without the state such property, rights, powers and duties of any trustee as the bank may determine, which may include any of the rights, powers and duties of any trustee appointed by the holders of any bonds and to limit or abrogate the right of the holders of any bonds of the bank to appoint a trustee under this chapter or limiting the rights, powers and duties of the trustee;

(v) To pay the costs or expenses incident to the enforcement of the bonds or of the resolution or of any covenant or agreement of the bank with the holders of its bonds;

(w) To agree with any corporate trustee which may be any trust company or bank having the powers of a trust company within or without the state, as to the pledging or assigning of any revenues or funds to which the bank has any rights or interest, and may further provide for such other rights and remedies exercisable by the trustee as may be proper for the protection of the holders of any bonds of the bank and not otherwise in violation of law, and which agreement may provide for the restriction of the rights of any individual holder of bonds of the bank;

(x) To appoint and to provide for the duties and obligations of a paying agent or paying agents, or such other fiduciaries as the resolution may provide within or without the state;

(y) To limit the rights of the holders of any bonds to enforce any pledge or covenant securing bonds;

(z) To fix, or agree to fix such asset coverage or other ratios with respect to the security of its bonds and notes as the bank may deem prudent or otherwise advisable; and

(aa) To make covenants other than and in addition to the covenants herein expressly authorized, of like or different character, and to make covenants to do or refrain from doing such things as may be necessary, or covenant and desirable, in order better to secure bonds or which, in the absolute discretion of the bank, will tend to make bonds more marketable, notwithstanding that the covenants or things may not be enumerated herein.

In the discretion of the bank, the bonds may be secured by a trust indenture by and between the bank and a corporate trustee. Such trust indenture may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the bank in relation to the exercise of its corporate powers and the custody, safeguarding and application of all moneys. The bank may provide by such trust indenture for the payment of the proceeds of the bonds and revenues to the trustee under such trust indenture or other depository, and for the method of disbursement thereof with such safeguards and restrictions as it may determine. All expenses incurred in carrying out such trust indenture may be treated as a part of the operating expenses of the bank. If the bonds shall be secured by a trust indenture, the bondholders shall not have the right to appoint a separate trustee to represent them.

Bonds issued by the bank under Section 31-25-21(k) for the purposes provided in Section 31-25-20(g) shall be general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi is irrevocably pledged. If the funds appropriated by the Legislature are insufficient to pay the principal of and the interest on such bonds as they become due, then the deficiency shall be paid by the State Treasurer from any funds in the State Treasury not otherwise appropriated. All such bonds shall contain recitals on their faces substantially covering the provisions of this paragraph.
Miss. Code Ann. § 31-7-13.1 — MS Code / Title 31 / Chapter 3 / Section 7-13.1
Miss. Code Ann. § 31-7-13.1
Status: in_force

(1) The method of contracting for construction described in this section shall be known as the “design-build method” of construction contracting. This method of construction contracting may be used on residential buildings, residential mixed-use developments, parking garages and other prescriptive type facilities. The design-build method of construction contracting may only be used when the Department of Finance and Administration or a governing authority has determined that it satisfies the public interest better than traditional design-bid or when the Legislature has specifically required or authorized the use of this method in the legislation authorizing a project. At a minimum, the determination must include a detailed explanation of why using the design-build method for a particular project satisfies the public need better than the traditional design-bid-build method based on the following criteria:

(a) The project provides a savings in time or cost over traditional methods; and

(b) The size and type of the project is suitable for design-build.

(2) For each proposed design-build project, either a fixed firm price or guaranteed maximum price contract must be adopted. Before solicitation of proposals, the agency or governing authority shall develop a scope of work statement that provides prospective offerors with sufficient information regarding the requirements of the agency or governing authority. The scope of work statement must include, but is not limited to, the following information:

(a) Location and nature of proposed site(s) that include preliminary geotechnical information from borings as well as survey drawings that show topography, adjacent buildings and utilities;

(b) Any mandatory requirements such as minimum number and types of spaces, any minimum or maximum building area(s) or height(s), applicable energy codes and/or efficiency targets, applicable zoning regulations and any aesthetic or character defining standards;

(c) Any mandatory material and/or system performance requirements and/or specifications; and

(d) General budget parameters, schedule or delivery requirements, relevant criteria for evaluation of proposals, and any other information necessary to enable the design-builders to submit proposals that meet the needs of the agency or governing authority.

(3) The agency or governing authority shall cause to be published once a week, for at least two (2) consecutive weeks in a regular newspaper published in the county in which the project is to be located, or a newspaper with statewide circulation, a notice inviting proposals for the design-build construction project. On the same date that the notice is submitted to the newspaper for publication, the agency or governing authority involved shall post the notice on the Mississippi Procurement Portal or mail written notice to, or provide electronic notification to, the main office of the Mississippi Procurement Technical Assistance Program under the Mississippi Development Authority that contains the same information as that in the published notice. The proposals shall not be opened in less than fifteen (15) working days after the last notice is published. The notice must inform potential offerors of how to obtain the scope of work statement developed for the project, and the notice must contain such other information to describe adequately the general nature and scope of the project so as to promote full, equal and open competition.

(4) The agency or governing authority shall accept initial proposals only from entities able to provide an experienced and qualified design-build team that includes, at a minimum, an architectural or engineering firm licensed and registered in Mississippi and a contractor properly licensed and domiciled in Mississippi for the type of work required.

(5) Proposals that include criteria other than cost only shall be evaluated by an evaluation committee established by the procuring entity. The evaluation committee shall be composed of not less than three (3) people, at least one (1) of which shall be an architect or engineer licensed and registered in Mississippi. Selection criteria of the evaluation committee shall be limited to the following:

(a) The bidder's knowledge and experience in executing projects of similar size and complexity;

(b) The experience and qualifications of the proposed office and construction management personnel;

(c) The experience and qualifications of the subcontractors proposed;

(d) The experience and qualifications of the architect or engineer and consultants;

(e) Schedule control; and

(f) Cost factors.

Cost as an evaluation factor shall be given the highest criteria weighting and at least thirty-five percent (35%) out of the one hundred percent (100%) total weight of all the other evaluation factors.

(6) If the agency or governing authority accepts a proposal other than the proposal with the lowest costs that was actually submitted, the agency or governing authority shall enter on its minutes detailed calculations and a narrative summary showing why the accepted proposal was determined to provide the best value, and the agency or governing authority shall state specifically on its minutes the justification for its award.

(7) All facilities that are governed by this section shall be designed and constructed to comply with standards equal to or exceeding the minimum building code standards employed by the state as required under Section 31-11-33 in force at the time of contracting. All private contractors or private entities contracting or performing under this section must comply at all times with all applicable laws, codes and other legal requirements pertaining to the project.

(8) An agency or governing authority may not award a stipulated fee to an offeror for preparation costs to submit a response to the request for proposals.

(9) This section shall not authorize the awarding of construction contracts according to any contracting method that does not require the contractor to satisfactorily perform, at a minimum, both any balance of design, using an independent professional licensed in Mississippi, and construction of the project for which the contract is awarded.

(10) The provisions of this section shall not affect any procurement by the Mississippi Transportation Commission.

(11) The provisions of this section shall not apply to procurement authorized in Section 59-5-37(3) .
Miss. Code Ann. § 31-31-1 — MS Code / Title 31 / Chapter 8 / Section 31-1
Miss. Code Ann. § 31-31-1
Status: in_force

This chapter may cited as the Mississippi Telecommunication Conference and Training Center Act.
Miss. Code Ann. § 31-25-41 — MS Code / Title 31 / Chapter 19 / Section 25-41
Miss. Code Ann. § 31-25-41
Status: in_force

Any pledge of revenues or other moneys made by the bank shall be valid and binding from the time when the pledge is made. The revenues or other moneys so pledged and thereafter received by the bank shall immediately be subject thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having notice thereof. Neither the resolution nor any other instrument by which a pledge is created or any statement with respect thereto need be filed or recorded, except in the records of the bank.
Miss. Code Ann. § 31-29-25 — MS Code / Title 31 / Chapter 25 / Section 29-25
Miss. Code Ann. § 31-29-25
Status: in_force

(1) Audits of the Institute for Technology Development (ITD) are to be performed by the State Auditor in accordance with the provisions of this section. Such audits shall be conducted by the State Auditor in a manner that will result in the review of the ITD's use of funds from the perspective of ITD's fiscal year, not the state's fiscal year. In conducting these audits, the State Auditor may rely to the maximum extent possible upon audits of ITD conducted by independent auditors in accordance with the provisions of the “Standards for Audit of Governmental Organizations, Programs, Activities and Functions” published by the Comptroller General of the United States and Circular A-133 “Audits of Institutions of Higher Learning and Other Non-Profit Institutions” published by the Office of Management and Budget. ITD shall present the results of any and all such audits to the State Auditor for review and incorporation into his reports to the Legislative Budget Committee.

(2) For any state fiscal year during which the Institute for Technology Development receives funds from the State of Mississippi, the State Department of Audit shall conduct a financial and legal compliance audit with respect to the use of such funds by the institute. The department shall incorporate in its audit report any recommendations it has concerning the financial and management control practices of the institute. The department shall report its findings and recommendations to the Legislative Budget Committee which shall make them available to members of the Legislature.
Miss. Code Ann. § 31-13-7 — MS Code / Title 31 / Chapter 1 / Section 13-7
Miss. Code Ann. § 31-13-7
Status: in_force

If the chancellor shall enter a decree confirming and validating said bonds and there shall be no appeal by either party from said decree, or if on appeal the supreme court enters its decree confirming and validating said bonds or other written obligations, the validity of said bonds or other written obligations so issued shall be forever conclusive against the county, municipality, or district issuing same; and the validity of said bonds or other written obligations shall never be called in question in any court in this state.
Miss. Code Ann. § 31-7-127 — MS Code / Title 31 / Chapter 1 / Section 7-127
Miss. Code Ann. § 31-7-127
Status: in_force

In order to ensure the proper enforcement of Sections 31-7-101 through 31-7-127 , as well as to ensure the enforcement of all other laws pertaining to county government or the board of supervisors, the district attorney, in addition to any other powers he already has, shall have the power to investigate the personnel, records or supervisors of any county in his district and shall have the power to bring criminal or civil actions to recover funds illegally spent, to recover damages, or to seek injunctive relief to prevent unlawful acts or compel lawful ones by supervisors or other personnel of county government. In the event of a refusal or failure of the district attorney to act, the Attorney General in a proper case may exercise the above powers of the district attorney, notwithstanding the absence of a request for investigation or action by the district attorney.
Miss. Code Ann. § 31-17-111 — MS Code / Title 31 / Chapter 13 / Section 17-111
Miss. Code Ann. § 31-17-111
Status: in_force

The commission in providing for the issuance of the notes herein authorized shall have full discretion (consistent with the provisions of Section 31-17-103 hereof) in fixing the terms and details thereof, and may provide for the issuance of said notes in such form, executed in such manner and payable at such place or places, and containing such terms, covenants and provisions as said commission may, by resolution or resolutions, provide.
Miss. Code Ann. § 31-25-23 — MS Code / Title 31 / Chapter 11 / Section 25-23
Miss. Code Ann. § 31-25-23
Status: in_force

The bank is hereby granted, has and may exercise, the following powers:

(a) To make loans to local governmental units by the purchase and holding of municipal securities in such form (including fully remarketable form), at such prices, in such manner, on such terms and conditions and with such security features as the bank shall deem advisable subject to the provisions of Section 31-25-27 ;

(b) Subject to the terms of contracts with the holders of bonds of the bank, to sell municipal securities acquired or held by it at such prices without relation to costs and in such manner as the bank shall deem desirable;

(c) To charge for its costs and services in reviewing or considering any proposed loan to a local governmental unit by the purchase of municipal securities of such local governmental unit, and to charge therefor, whether or not such municipal securities are purchased, and such costs may be established in such manner as the bank shall determine, including but not limited to an allocation to each local governmental unit using the services of the bank of an equitable portion of the total administrative expenses of the bank, which expenses shall include the fees and expenses of trustees and paying agents for bonds of the bank, as it shall deem appropriate;

(d) In connection with any loan to a local governmental unit, to consider the need, desirability or eligibility of the loan, the ability of the local governmental unit to secure borrowed money from other sources and the costs thereof, the particular local improvements or purposes to be financed by the municipal securities to be purchased by the bank, the ability of the municipality to supply other essential public improvements and services and to pay punctually the principal and interest on its debts, the reasonableness of the amounts to be expended for each of the purposes or improvements to be financed pursuant to such bonds, and such other factors as the bank may deem necessary;

(e) To establish any terms and provisions with respect to any purchase of municipal securities by the bank, including date and maturities of the bonds, provisions as to redemption or payment prior to maturity, and any other matters which are necessary, desirable or advisable in the judgment of the bank, subject to the provisions of Section 31-25-27 ;

(f) To fix and prescribe any form of application or procedure to be required of a local governmental unit for the purpose of any loan to be made to such governmental unit by the purchase of its municipal securities, and to fix the terms and conditions of any such loan and to enter into agreements with local governmental units with respect to any such loan;

(g) In order to assure the continued creditworthiness and fiscal stability of the local governmental units to which the bank shall make loans by the purchase of municipal securities thereof, the board may adopt, modify or amend rules and regulations of the bank which shall provide for all or certain of the following:

(i) Accounting systems and financial reporting standards for such local governmental units which will provide a uniform basis from which financial data may be obtained by the bank and furnished to investors;

(ii) Standards for debt management and budget procedures and practices;

(iii) Procedures relating to internal controls over the receipt, deposit, investment, transfer and disbursement of funds of such local governmental units so as to assure the proper application thereof;

(iv) Requirements for financial and economic feasibility studies or other studies or surveys with respect to revenue-producing enterprises or systems of such local governmental units or the management thereof or the rates, charges, rents or tolls for the use or service thereof; and

(v) Other matters relating to the fiscal stability and creditworthiness of such local governmental units.

Compliance with such rules and regulations of the bank may be required for local governmental units receiving financing from the bank, subject to such terms, conditions and exceptions as the board may from time to time determine to be practicable and to be necessary or appropriate to accomplish the purposes of this act.
Miss. Code Ann. § 31-19-33 — MS Code / Title 31 / Chapter 19 / Section 19-33
Miss. Code Ann. § 31-19-33
Status: in_force

Action against the state or any county, municipality, school district or political subdivision of the State of Mississippi for the payment of any bond issued thereby or for the payment of any coupon representing interest on such bond shall be commenced within twenty (20) years after the maturity date of such bond.
Miss. Code Ann. § 31-15-25 — MS Code / Title 31 / Chapter 13 / Section 15-25
Miss. Code Ann. § 31-15-25
Status: in_force

Such refunding bonds shall be payable from the same sources of revenue and so far as possible shall be secured in the same manner and by the same covenants and agreements as were the bonds refunded. All provisions of the law under which the bonds refunded were issued, which provide for the security of such bonds and the requirements for fixing rates sufficient to operate the project acquired or improved and to pay principal of and interest on the bonds, shall remain in effect and shall be fully applicable to the refunding bonds issued hereunder. In no event shall taxes be levied for the payment of such bonds, and they shall recite on their face that they are payable only from revenues.
Miss. Code Ann. § 31-25-23 — MS Code / Title 31 / Chapter 13 / Section 25-23
Miss. Code Ann. § 31-25-23
Status: in_force

The bank is hereby granted, has and may exercise, the following powers:

(a) To make loans to local governmental units by the purchase and holding of municipal securities in such form (including fully remarketable form), at such prices, in such manner, on such terms and conditions and with such security features as the bank shall deem advisable subject to the provisions of Section 31-25-27 ;

(b) Subject to the terms of contracts with the holders of bonds of the bank, to sell municipal securities acquired or held by it at such prices without relation to costs and in such manner as the bank shall deem desirable;

(c) To charge for its costs and services in reviewing or considering any proposed loan to a local governmental unit by the purchase of municipal securities of such local governmental unit, and to charge therefor, whether or not such municipal securities are purchased, and such costs may be established in such manner as the bank shall determine, including but not limited to an allocation to each local governmental unit using the services of the bank of an equitable portion of the total administrative expenses of the bank, which expenses shall include the fees and expenses of trustees and paying agents for bonds of the bank, as it shall deem appropriate;

(d) In connection with any loan to a local governmental unit, to consider the need, desirability or eligibility of the loan, the ability of the local governmental unit to secure borrowed money from other sources and the costs thereof, the particular local improvements or purposes to be financed by the municipal securities to be purchased by the bank, the ability of the municipality to supply other essential public improvements and services and to pay punctually the principal and interest on its debts, the reasonableness of the amounts to be expended for each of the purposes or improvements to be financed pursuant to such bonds, and such other factors as the bank may deem necessary;

(e) To establish any terms and provisions with respect to any purchase of municipal securities by the bank, including date and maturities of the bonds, provisions as to redemption or payment prior to maturity, and any other matters which are necessary, desirable or advisable in the judgment of the bank, subject to the provisions of Section 31-25-27 ;

(f) To fix and prescribe any form of application or procedure to be required of a local governmental unit for the purpose of any loan to be made to such governmental unit by the purchase of its municipal securities, and to fix the terms and conditions of any such loan and to enter into agreements with local governmental units with respect to any such loan;

(g) In order to assure the continued creditworthiness and fiscal stability of the local governmental units to which the bank shall make loans by the purchase of municipal securities thereof, the board may adopt, modify or amend rules and regulations of the bank which shall provide for all or certain of the following:

(i) Accounting systems and financial reporting standards for such local governmental units which will provide a uniform basis from which financial data may be obtained by the bank and furnished to investors;

(ii) Standards for debt management and budget procedures and practices;

(iii) Procedures relating to internal controls over the receipt, deposit, investment, transfer and disbursement of funds of such local governmental units so as to assure the proper application thereof;

(iv) Requirements for financial and economic feasibility studies or other studies or surveys with respect to revenue-producing enterprises or systems of such local governmental units or the management thereof or the rates, charges, rents or tolls for the use or service thereof; and

(v) Other matters relating to the fiscal stability and creditworthiness of such local governmental units.

Compliance with such rules and regulations of the bank may be required for local governmental units receiving financing from the bank, subject to such terms, conditions and exceptions as the board may from time to time determine to be practicable and to be necessary or appropriate to accomplish the purposes of this act.
Miss. Code Ann. § 31-23-67 — MS Code / Title 31 / Chapter 15 / Section 23-67
Miss. Code Ann. § 31-23-67
Status: in_force

The following provisions shall apply to the system:

(a) Any written statements or opinions of bond counsel and legal counsel and the commitment from a lender, financial institution, underwriter or investment banker accompanying any applications shall be dated no more than thirty (30) days prior to the date on which the application is filed. Such opinions, commitments and any other items accompanying an application shall be in substantially the form or forms promulgated or required by the board from time to time.

(b) The board shall maintain a record of the notices of allocation issued and the amount of the state's ceiling available from time to time and related data in a register thereof. Notices of allocation shall be deemed to be issued when such allocation is registered in the register. Other notices and written communications from the board shall be deemed to have been given when duly deposited in the United States mail, first class, with all postage prepaid. Notices of allocation may, at the request of the applicant, be picked up by hand at the offices of the board or be delivered by courier or other delivery service at the expense of the applicant. Notices and other written communications to, and filings with, the board shall be deemed given or made when actually received by the board, whether by actual delivery to the offices of the board or by United States mail, first class, with all postage prepaid.

(c) Notwithstanding anything in this act to the contrary, the board may give a notice of its intention during any year to issue a notice of allocation during the next year. Such notice of intention shall be for informational purposes only, and shall not be binding upon the board.
Miss. Code Ann. § 31-19-5 — MS Code / Title 31 / Chapter 9 / Section 19-5
Miss. Code Ann. § 31-19-5
Status: in_force

Any funds received from the sale of bonds, notes, or certificates of indebtedness heretofore or hereafter sold by the State of Mississippi or any agency or department thereof or by any county, municipality, road district, levee district, development district, utility district, school district, drainage district or other entity authorized by law to issue bonds, notes, or certificates of indebtedness, which are not immediately required for disbursement for the purpose for which issued, may be invested by the proper authorities in any direct obligation issued by or guaranteed in full as to principal and interest by the United States of America or in certificates of deposit issued by or through a qualified depository of the State of Mississippi as approved by the State Treasurer, maturing or being redeemable by the holder on or prior to the date upon which such funds will be required for disbursement and bearing interest at a rate per annum not less than a simple interest rate numerically equal to the average bank discount rate on United States Treasury bills of comparable maturity or the current rate of interest paid on certificates of deposit or on United States Treasury obligations of comparable maturities, whichever is the higher, provided, however, that the proceeds from the sale of bonds issued pursuant to Sections 57-1-131 through 57-1-145, Mississippi Code of 1972, or Chapter 3 of Title 57, Mississippi Code of 1972 , may be invested in certificates of deposit issued by or through qualified depositories of the State of Mississippi bearing interest at any rate per annum which may be mutually agreed upon, but in no case shall said rate be less than such average bank discount rate.

Funds received pursuant to this section shall be invested as heretofore described or may be invested, pursuant to rules promulgated by the State Treasurer, in obligations described in Section 27-105-33(d), Mississippi Code of 1972; however, funds described in this section may not be invested in securities of, or interests in, any open-end or closed-end management-type investment company or investment trust, such as those described in Section 27-105-33(e) .
Miss. Code Ann. § 31-18-15 — MS Code / Title 31 / Chapter 1 / Section 18-15
Miss. Code Ann. § 31-18-15
Status: in_force

Nothing in this chapter shall be construed as to apply to or limit any debt obligation or related instrument of the state or any other issuers except those obligations or instruments which are or relate to state-supported debt.
Miss. Code Ann. § 31-25-39 — MS Code / Title 31 / Chapter 8 / Section 25-39
Miss. Code Ann. § 31-25-39
Status: in_force

In any resolution of the board of the bank authorizing, or relating to the issuance of any bonds, the board, in order to secure the payment of the bonds and in addition to its other powers, may covenant and contract with the holders of the bonds:

(a) To pledge to any payment or purpose all or any part of its revenues to which its right then exists or may thereafter come into existence, and the moneys derived therefrom, and the proceeds of any bonds including, but not limited to, any or all municipal securities held by the bank. Any such bonds may be additionally secured by a pledge of any grants, subsidies, contributions, or other funds or moneys from the United States or the state or any agency or instrumentality thereof, or any other governmental unit;

(b) To covenant against pledging all or any part of its revenues, or against permitting or suffering any lien on those revenues or its property;

(c) To pledge all or any part of the assets of the bank to secure the payment of the notes or bonds or of any issue of notes or bonds, subject to such agreements with holders of bonds as may then exist;

(d) To covenant as to the use and disposition of any payments of principal or interest received by the bank on municipal securities or other investments held by the bank;

(e) To covenant as to establishment of reserves or sinking funds, the making of provision for them and the regulation and disposition thereof;

(f) To covenant with respect to or against limitations on any right to sell or otherwise dispose of any property of any kind;

(g) To covenant as to any bonds to be issued by the bank, or by the local governmental unit the municipal securities of which are being purchased with the proceeds of an issue of bonds or notes of the bank, and their limitations and their terms and conditions and as to the custody, application and disposition of their proceeds, and pledging such proceeds to secure payment of bonds or any issue thereof;

(h) To contract with bond or note holders respecting the terms and conditions of agreements with the state or local governmental units made pursuant to the provisions of this chapter;

(i) To covenant as to the issuance of additional bonds or as to limitations on the issuance of additional bonds and on the incurring of other debts;

(j) To covenant as to the payment of the principal of or interest on the bonds, as to the sources and methods of payment, as to the rank or priority of any bonds with respect to any lien of security or as to the acceleration of the maturity of any bonds;

(k) To provide for the replacement of lost, stolen, destroyed or mutilated bonds;

(l) To covenant against extending the time for the payment of bonds or interest thereon;

(m) To covenant as to the redemption of bonds and privileges of exchange thereof for the other bonds of the bank;

(n) To covenant as to any charges to be established and charged, the amount to be raised each year or other period of time by charges or other revenues and as to the use and disposition to be made thereof;

(o) To limit the amount of money to be expended by the bank for operating expenses of the bank;

(p) To covenant to create or authorize the creation of special funds or moneys to be held in pledge or otherwise for operating expenses, payment or redemption of bonds, reserves or other purposes and as to the use and disposition of the moneys held in those funds;

(q) To establish the procedures, if any, by which the terms of any contract or covenant with or for the benefit of the holders of bonds may be amended or abrogated, the amount of bonds the holders of which must consent thereto, and the manner in which the consent may be given;

(r) To covenant as to the custody of any of its properties or investments, the safekeeping thereof, the insurance to be carried thereon, and the use and disposition of insurance moneys;

(s) To covenant as to the time and manner of enforcement or restraint from enforcement of any rights of the bank arising by reason of or with respect to nonpayment of principal or interest of any municipal securities;

(t) To provide for the rights and liabilities, powers and duties arising upon the breach of any covenant, condition or obligation and to prescribe the events of default and the terms and conditions upon which any or all of the bonds or other obligations of the bank shall become or may be declared due and payable before maturity and the terms and conditions upon which the declaration and its consequences may be waived or rescinded;

(u) To vest in a trustee or trustees within or without the state such property, rights, powers and duties of any trustee as the bank may determine, which may include any of the rights, powers and duties of any trustee appointed by the holders of any bonds and to limit or abrogate the right of the holders of any bonds of the bank to appoint a trustee under this chapter or limiting the rights, powers and duties of the trustee;

(v) To pay the costs or expenses incident to the enforcement of the bonds or of the resolution or of any covenant or agreement of the bank with the holders of its bonds;

(w) To agree with any corporate trustee which may be any trust company or bank having the powers of a trust company within or without the state, as to the pledging or assigning of any revenues or funds to which the bank has any rights or interest, and may further provide for such other rights and remedies exercisable by the trustee as may be proper for the protection of the holders of any bonds of the bank and not otherwise in violation of law, and which agreement may provide for the restriction of the rights of any individual holder of bonds of the bank;

(x) To appoint and to provide for the duties and obligations of a paying agent or paying agents, or such other fiduciaries as the resolution may provide within or without the state;

(y) To limit the rights of the holders of any bonds to enforce any pledge or covenant securing bonds;

(z) To fix, or agree to fix such asset coverage or other ratios with respect to the security of its bonds and notes as the bank may deem prudent or otherwise advisable; and

(aa) To make covenants other than and in addition to the covenants herein expressly authorized, of like or different character, and to make covenants to do or refrain from doing such things as may be necessary, or covenant and desirable, in order better to secure bonds or which, in the absolute discretion of the bank, will tend to make bonds more marketable, notwithstanding that the covenants or things may not be enumerated herein.

In the discretion of the bank, the bonds may be secured by a trust indenture by and between the bank and a corporate trustee. Such trust indenture may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the bank in relation to the exercise of its corporate powers and the custody, safeguarding and application of all moneys. The bank may provide by such trust indenture for the payment of the proceeds of the bonds and revenues to the trustee under such trust indenture or other depository, and for the method of disbursement thereof with such safeguards and restrictions as it may determine. All expenses incurred in carrying out such trust indenture may be treated as a part of the operating expenses of the bank. If the bonds shall be secured by a trust indenture, the bondholders shall not have the right to appoint a separate trustee to represent them.

Bonds issued by the bank under Section 31-25-21(k) for the purposes provided in Section 31-25-20(g) shall be general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi is irrevocably pledged. If the funds appropriated by the Legislature are insufficient to pay the principal of and the interest on such bonds as they become due, then the deficiency shall be paid by the State Treasurer from any funds in the State Treasury not otherwise appropriated. All such bonds shall contain recitals on their faces substantially covering the provisions of this paragraph.
Miss. Code Ann. § 31-25-21 — MS Code / Title 31 / Chapter 19 / Section 25-21
Miss. Code Ann. § 31-25-21
Status: repealed

The bank is hereby granted, has and may exercise the power to borrow money and issue its bonds in such principal amounts as it shall deem necessary to provide funds to accomplish a public purpose or purposes of the state provided for under this chapter, including:

(a) The making of loans to local governmental units by the purchase of municipal securities thereof;

(b) The payment, funding, refunding of the principal of, or interest or redemption premiums on, any bonds issued by it whether the bonds have or have not become due or subject to redemption in accordance with their terms;

(c) The establishment or increase of such debt service reserves and capitalized interest accounts to pay bonds or interest thereon as the bank shall consider necessary or advisable in the marketing of such bonds;

(d) The payment of consultant and legal fees and such other costs of issuance and expenses necessary or incidental to such bond issue;

(e) The deposit of funds into reserve funds established by the bank;

(f) The establishment or increase of reserves to pay all other costs and expenses of the bank incident to and necessary or convenient to carrying out its corporate purposes and powers;

(g) The deposit of funds into the Water Pollution Control Revolving Fund and the Water Pollution Control Emergency Loan Fund created pursuant to Sections 49-17-81 through 49-17-89 ;

(h) The issuance of up to Fifty Million Dollars ($50,000,000.00) in revenue bonds for regional solid waste authorities and county cooperative service districts;

(i) The advance purchase of energy for any municipality that operates a gas producing, generating, transmission or distribution system, or an electric generating, transmission or distribution system under Sections 21-27-11 through 21-27-71 ;

(j) The issuance of revenue bonds to fund or assist in funding retirement systems established pursuant to Sections 21-29-1 through 21-29-55 and Sections 21-29-101 through 21-29-151 . Before any revenue bonds may be issued for this purpose the municipality whose retirement system is being funded by such bonds shall have an actuary perform a study through the Public Employees' Retirement System to determine the amount of revenue bonds that should be issued to make such retirement system actuarially sound;

(k) To issue general obligation bonds of the State of Mississippi for the purposes provided in Section 31-25-20(g) , as such section existed on April 3, 1996. The authority to issue such general obligation bonds of the State of Mississippi shall be repealed from and after the date that the bonds have been issued in their entirety;

(l) The issuance of bonds to fund loans made by the bank to any local governmental unit under any loan guaranty program of any department or agency of the United States, including the United States Department of Agriculture Rural Utility Services Water and Waste Disposal Guaranteed Loan Program and Community Programs Guaranteed Loan Program or any such successor guaranty programs.

(m) Any other lawful, corporate purpose.
Miss. Code Ann. § 31-25-9 — MS Code / Title 31 / Chapter 13 / Section 25-9
Miss. Code Ann. § 31-25-9
Status: in_force

The powers conferred upon the bank hereby are to be vested in the board.
Miss. Code Ann. § 31-18-3 — MS Code / Title 31 / Chapter 1 / Section 18-3
Miss. Code Ann. § 31-18-3
Status: in_force

The purpose of this chapter is to provide full and complete authority for the state, acting by and through the commission, to issue or enter into variable rate debt instruments. No procedure or proceedings, publications, notices, consents, limitations, approvals, orders, acts or things, other than those required by this chapter, shall be required to issue or enter into any variable rate debt instruments or to do any act or perform anything under this chapter except as otherwise may be prescribed in this chapter. The powers conferred by this chapter shall be in addition and supplemental to, and not in substitution for, and the limitations imposed by this chapter shall not affect the powers conferred by any other law. This chapter is remedial in nature and shall be liberally construed.
Miss. Code Ann. § 31-31-5 — MS Code / Title 31 / Chapter 9 / Section 31-5
Miss. Code Ann. § 31-31-5
Status: in_force

(1) There is hereby created a commission to be known as the “Mississippi Telecommunication Conference and Training Center Commission” which shall consist of eleven (11) members as follows:

(a) The Executive Director of the Department of Economic and Community Development;

(b) The Mayor of the City of Jackson;

(c) The President of Jackson State University;

(d) The Vice-Chancellor for Health Affairs of the University of Mississippi Medical Center;

(e) The Executive Director of the Metro Jackson Convention and Visitors Bureau;

(f) The Executive Director of the Institute for Technology Development;

(g) Three (3) members of the private sector appointed by the Governor, with the advice and consent of the Senate, to serve a term concurrent with that of the Governor; and

(h) Two (2) members of the private sector appointed by the Lieutenant Governor, with the advice and consent of the Senate, to serve a term concurrent with that of the Lieutenant Governor.

(2) The members of the commission shall serve without compensation except that members shall be paid their actual and necessary expenses in connection with the performance of their duties as members of the commission including mileage, as authorized in Section 25-3-41 and each member who is not a state employee or a public official shall be paid a per diem as authorized in Section 25-3-69 . Expenses, mileage and per diem allowance shall be paid out of the Mississippi Telecommunication Conference and Training Center Fund.

(3) The commission shall elect from its membership a chairman, who shall preside over meetings, and a vice chairman, who shall preside in the absence of the chairman. Four (4) members of the commission shall constitute a quorum for the transaction of any and all business of the commission.

(4) The commission shall appoint a director who shall be responsible for conducting the day-to-day business of the commission.

(5) From and after the date agreed upon by the Department of Finance and Administration and the Capital City Convention Center Commission:

(a) The Mississippi Telecommunication Conference and Training Center Commission shall be abolished;

(b) All records, personal property, funds and other assets and personnel of the commission shall be transferred to the Capital City Convention Center Commission, created by Chapter 1019, Local and Private Laws of 2004; however, the provisions of this paragraph (b) shall not apply to any monies deposited in the Mississippi Telecommunication Conference and Training Facility Reserve Fund pursuant to Section 31-31-11 ; and

(c) Any personal service, management or other contracts of like nature entered into by the commission shall be canceled.
Miss. Code Ann. § 31-23-65 — MS Code / Title 31 / Chapter 21 / Section 23-65
Miss. Code Ann. § 31-23-65
Status: in_force

(1) The board may promulgate such rules and procedures as may be necessary in order to implement the provisions of the federal legislation and any regulations promulgated pursuant to the federal legislation for carry-forward projects. Bonds for carry-forward projects may be issued during the three (3) calendar years following the calendar year in which the carry-forward arose.

(2) If there is any unused amount (other than unused amounts being carried forward pursuant to Section 31-23-63(4) ) remaining in either the undesignated portion or the threshold portion at the close of business on the last business day of a year, or at such later time as may be prescribed by regulations promulgated pursuant to the federal legislation, and if issuers have previously filed with the board elections to treat specific redevelopment projects, exempt facility projects or student loan projects as carry-forward projects, and have in the election specified the carry-forward amounts and identified the purpose for which the carry-forward is elected, the board shall:

(a) Allocate such unused amounts to such projects with respect to which issuers have filed such elections, in order of priority as follows:

(i) First, to those redevelopment projects, exempt facility projects and student loan projects which are reasonably expected to be financed with bonds to be issued during the ensuing calendar year (proportionately in relation to the carry-forward amounts specified in the elections if the unused amounts are less than the aggregate of the carry-forward amounts specified in all such elections); and

(ii) Second, to redevelopment projects, exempt facility projects and student loan projects not described in item (i) above (proportionately in relation to the carry-forward amounts specified in the elections if the remaining unused amounts are less than the aggregate of the carry-forward amounts specified in all such elections);

(iii) Third, to priority projects not described in item (i) above (proportionately in relation to the carry-forward amounts specified in the elections if the remaining unused amounts are less than the aggregate of the carry-forward amounts specified in all such elections); and

(b) Allocate any remainder to student loan projects, to the extent that evidence of elections with respect thereto shall be on file with the board. After unused amounts are allocated to any mortgage revenue projects, redevelopment projects, exempt facility project or student loan project, such projects shall be treated as carry-forward projects under the federal legislation.

(3) Bonds issued to finance all or part of any project designated as a carry-forward project shall be included within the carry-forward amount for such carry-forward project if:

(a) A statement that such bonds have been issued with a reference to the carry-forward project is delivered to the board within thirty (30) days of the issuance of such bonds; and

(b) Either

(i) Such bonds are issued to finance a student loan project as part of the carry-forward amount allocated pursuant to subsection (2)(b) above and bonds in aggregate principal amount equal to or greater than all amounts allocated to student loan projects pursuant to subsection (2)(a) above shall have been issued; or

(ii) Such bonds are issued in aggregate principal amount sufficient to, together with all other obligations previously issued and included within such carry-forward amount for such carry-forward project, aggregate at least seventy-five percent (75%) of the carry-forward amount with respect to such carry-forward project; or

(iii) The board shall have certified such obligations as included within such carry-forward amount; or

(iv) Such bonds are issued to finance student loan projects, in whole or in part, as all or part of a carry-forward amount allocated pursuant to Section 31-23-63(4) ; or

(v) Such bonds are issued to finance student loan projects, in whole or in part, as all or part of a carry-forward amount allocated pursuant to subsection (2)(a) above.

(4) In the event that any issuer anticipates issuing obligations to be included within the carry-forward amount for a particular project, unless such obligations will meet either the test set forth in subsection (3)(b)(i) above or the test set forth in subsection (3)(b)(ii) above, the issuer shall notify the board of its intent to issue such bonds, and advise the board of reasons for the issuance of such bonds in principal amount less than the carry-forward amount. The board shall be conclusively deemed to have certified that such obligations will be included in the carry-forward amount for such carry-forward project unless, within five (5) business days of receipt of such notice, it determines:

(a) That the issuer and, unless such bonds are student loan bonds or mortgage revenue bonds, the borrower do not reasonably expect that bonds will be issued to finance such carry-forward project in an aggregate principal amount equal to at least seventy-five percent (75%) of the carry-forward amount specified for such carry-forward project; and

(b) That the issuer and, unless the bonds are student loan bonds or redevelopment bonds, the borrower did not reasonably expect, on the date on which unused amounts were allocated to such carry-forward project, that bonds would be issued to finance such carry-forward project in an aggregate principal amount equal to at least seventy-five percent (75%) of the carry-forward amount specified for such carry-forward project.

(5) In the event that unused amounts are allocated to a carry-forward project pursuant to subsection (2)(a) above, and bonds are not issued to finance all or any part of a carry-forward project within the period specified therefor, if the board determines that the issuer and, unless the bonds are student loan bonds or redevelopment bonds, the borrower did not reasonably expect, on the date on which unused amounts were so allocated to such carry-forward project, to issue bonds to finance all or part of such carry-forward project, the board may, in its discretion and for such period of time as it shall determine to be appropriate, refuse:

(a) To accept applications for projects with respect to which the borrower designated in the election with respect to such carry-forward project (or any related person to such borrower) will be a borrower; and

(b) To allocate carry-forward amounts to carry-forward projects with respect to which such borrower (or any related person to such borrower) will be a borrower; and

(c) In the case of student loan bonds or redevelopment bonds, to allocate carry-forward amounts to student loan projects or redevelopment projects pursuant to subsection (2)(a) above.
Miss. Code Ann. § 31-25-53 — MS Code / Title 31 / Chapter 15 / Section 25-53
Miss. Code Ann. § 31-25-53
Status: in_force

Neither this act nor anything herein contained is or shall be construed as a restriction or limitation upon any powers which the bank might otherwise have under any laws of this state, and this act is cumulative to any such powers. This act does and shall be construed to provide complete additional and alternative method for the doing of the things authorized thereby and shall be regarded as supplemental and additional to powers conferred by other laws. No proceedings, notice or approval shall be required for the issuance of any bonds, notes and other obligations or any instrument as security therefor, except as in this act.
Miss. Code Ann. § 31-29-13 — MS Code / Title 31 / Chapter 8 / Section 29-13
Miss. Code Ann. § 31-29-13
Status: in_force

Any holder of bonds issued under the provisions of this chapter or of any of the interest coupons pertaining thereto may, either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce any and all rights granted hereunder, or under such resolution, and may enforce and compel performance of all duties required by this chapter to be performed, in order to provide for the payment of bonds and interest thereon.
Miss. Code Ann. § 31-29-9 — MS Code / Title 31 / Chapter 15 / Section 29-9
Miss. Code Ann. § 31-29-9
Status: in_force

The State Bond Commission shall sell such bonds in the manner and at a price which will result in the lowest interest rate on the best terms obtainable for the state, but no such sale shall be made at a price less than par plus accrued interest to date of delivery of the bonds to the purchaser. Notice of the sale of any such bonds shall be published at least one time not less than ten (10) days prior to the date of sale and shall be so published in one or more newspapers having a general circulation in the City of Jackson and in one or more other newspapers or financial journals as may be directed by the State Bond Commission.
Miss. Code Ann. § 31-25-7 — MS Code / Title 31 / Chapter 9 / Section 25-7
Miss. Code Ann. § 31-25-7
Status: in_force

There is hereby created an independent public body corporate and politic to be known as the Mississippi Development Bank. Such bank is created solely to accomplish the purposes of the state under this chapter and the exercise by the bank of the powers conferred by this act shall be deemed and held to be the performance of an essential public function.

The bank and its corporate existence shall continue until terminated by law; provided, however, that no such law shall take effect so long as the bank shall have bonds or other obligations outstanding, unless provision has been made for the full and complete payment thereof. Upon termination of the existence of the bank, all its rights and properties shall pass to and be vested in the state. No net earnings of the bank may inure to the benefit of any person, entity or bank other than the state.
Miss. Code Ann. § 31-31-7 — MS Code / Title 31 / Chapter 7 / Section 31-7
Miss. Code Ann. § 31-31-7
Status: in_force

The commission shall have the following powers:

(a) To sue and be sued in its own name;

(b) To maintain offices at such places as it may designate;

(c) To establish, construct, enlarge, improve, maintain, equip, operate and regulate the facility and other property incidental thereto, including any additional property or facilities considered by the commission to promote the business, usage or economic viability of the facility;

(d) To grant to others the privilege to operate for profit concessions, leases and franchises, including but not limited to, the furnishing of food and banquet services, management services, and other services necessary to the operation of the facility and such concessions, leases and franchises shall be exclusive or limited;

(e) To determine fees, rates and charges for the use of its facilities;

(f) To apply for and accept gifts, or grants of money or gifts, grants or loans of other property or other financial assistance from any source;

(g) To borrow funds needed to carry out the purposes of this chapter; provided, however, that such debt may be secured only by the revenues generated by the facility, funds generated by the tax levied pursuant to Section 31-31-11 and the proceeds of any bonds issued pursuant to this chapter;

(h) To appoint, employ or engage such officers, employees, architects, engineers, attorneys, accountants, financial advisors, investment bankers and other advisors, consultants, and agents as may be necessary or appropriate;

(i) To make, assume and enter into all contracts, leases and arrangements necessary or incidental to the exercise for its powers, including contracts for management, operation or marketing of all or any part of its facilities;

(j) To adopt, amend and repeal rules and regulations for the use, maintenance and operation of its facilities and governing the conduct of persons and organizations using its facilities and to enforce such rules and regulations; and

(k) To do all things necessary or convenient to the purposes of this chapter.
Miss. Code Ann. § 31-17-55 — MS Code / Title 31 / Chapter 5 / Section 17-55
Miss. Code Ann. § 31-17-55
Status: in_force

Whenever the board of supervisors of any county or the board of mayor and aldermen or the proper authorities of any municipalities and/or of any taxing district or other subdivision of any county may have acquired title to any of the bonds of such county, district, or municipality by purchase with, or at the expense of, the sinking funds of the particular sinking fund collected for the purpose of paying the principal of and interest on bonds of the issue so acquired, and sufficient funds shall accumulate in such sinking fund above the amount invested in such bonds, when added to other funds to be paid into said sinking funds within the succeeding twelve (12) months, to provide for and pay the principal of and interest on the bonds of such issue maturing and falling due within the succeeding twelve (12) months, the board of supervisors of such county and of the county embracing such district, and/or board of mayor and aldermen or proper authorities of such municipality or district or subdivision may cancel such bonds so acquired, by order entered upon its minutes and its clerk making entry of cancellation of such bonds upon the proper bond register and stamping or perforating same to show cancellation thereof after cancellation of such bonds, no further taxes shall be levied or collected for the payment of the principal of or interest on the bonds so canceled.
Miss. Code Ann. § 31-25-7 — MS Code / Title 31 / Chapter 3 / Section 25-7
Miss. Code Ann. § 31-25-7
Status: in_force

There is hereby created an independent public body corporate and politic to be known as the Mississippi Development Bank. Such bank is created solely to accomplish the purposes of the state under this chapter and the exercise by the bank of the powers conferred by this act shall be deemed and held to be the performance of an essential public function.

The bank and its corporate existence shall continue until terminated by law; provided, however, that no such law shall take effect so long as the bank shall have bonds or other obligations outstanding, unless provision has been made for the full and complete payment thereof. Upon termination of the existence of the bank, all its rights and properties shall pass to and be vested in the state. No net earnings of the bank may inure to the benefit of any person, entity or bank other than the state.
Miss. Code Ann. § 31-29-19 — MS Code / Title 31 / Chapter 9 / Section 29-19
Miss. Code Ann. § 31-29-19
Status: in_force

This chapter shall be deemed to be full and complete authority for the exercise of the powers herein granted.
Miss. Code Ann. § 31-11-29 — MS Code / Title 31 / Chapter 1 / Section 11-29
Miss. Code Ann. § 31-11-29
Status: in_force

The legislative budget office shall prepare and submit to each regular session of the legislature a “capital expense and development” budget based on information furnished as herein provided by the office of general services, plus such other information as may be obtained. The said budget shall contain an estimate of the immediate and the long term capital needs of each state department, agency, institution, and each junior college. Such budget shall include a description of the buildings and other facilities which are recommended as needed at each institution, along with an estimate of the cost. The budget shall also include a suggested method of financing the immediate needs. “Immediate needs” shall be construed to mean: buildings, major improvements, and other facilities required for the proper functioning of the institution for the next year. “Long range” needs shall be construed to mean: buildings, major improvements, and other facilities of a similar nature which may be required at some indefinite date in the future.
Miss. Code Ann. § 31-25-37 — MS Code / Title 31 / Chapter 3 / Section 25-37
Miss. Code Ann. § 31-25-37
Status: in_force

(1) The bank shall have the power, from time to time, to issue bonds for any of its corporate purposes, including without limitation to pay bonds, including the interest thereon, and whenever it deems refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured, and to issue bonds partly to refund bonds then outstanding and partly for any of its corporate purposes. The refunding bonds may be exchanged for bonds to be refunded or sold and the proceeds applied to the purchase, redemption or payment of such bonds.

(2) The bank shall have power to make contracts for the future sale from time to time of bonds, pursuant to which the purchaser shall be committed to purchase and the bank shall have the power to pay such consideration as it shall deem proper for such commitments.

(3) Except as otherwise provided in this subsection (3), every issue of bonds of the bank shall be general obligations of the bank payable out of any revenues or funds of the bank, subject only to the provisions of the resolution of the bank authorizing the issuance of, or to any agreements with the holders of, particular bonds pledging any particular revenues or funds. Any such bonds may be additionally secured by a pledge of any grants, subsidies, contributions, funds or moneys from the United States of America or the state or any agency or instrumentality thereof, or any other governmental unit. However, bonds issued by the bank under Section 31-25-21(k) for the purposes provided in Section 31-25-20(g) shall be general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi is irrevocably pledged. If the funds appropriated by the Legislature are insufficient to pay the principal of and the interest on such bonds as they become due, then the deficiency shall be paid by the State Treasurer from any funds in the State Treasury not otherwise appropriated. All such state general obligation bonds shall contain recitals on their faces substantially covering these provisions.

(4) Any law to the contrary notwithstanding, a bond issued under this chapter is fully negotiable and each holder or owner of a bond, or of any coupon appurtenant thereto, by accepting the bond or coupon shall be conclusively deemed to have agreed that the bond or coupon is fully negotiable for those purposes subject only to any provisions of bonds for registration.

(5) Bonds of the bank shall be authorized by resolution of the board of the bank, may be issued as serial bonds payable in annual installments or as term bonds or as a combination thereof, and shall bear such date or dates, mature at such time or times, be in such denomination or denominations, be in such form, either coupon or registered, carry such conversion or registration privileges, have such rank or priority, be payable from such sources in such medium of payment at such place or places within or without the state, and be subject to such terms of redemption, with or without premiums, as such resolution or resolutions may provide, except that no bond shall mature more than forty (40) years from the date of its issue. The bonds may bear interest at such rate or rates as the bank may by resolution determine, and such rate or rates shall not be limited by any other law relating to the issuance of bonds except that the interest rate on any bonds issued as general obligation bonds of the State of Mississippi shall not exceed the limits set forth in Section 75-17-101 . The bonds and coupons appertaining thereto may be executed in such manner as shall be determined by the bank. In case any of the members or officers of the bank whose signatures appear on any bonds or coupons shall cease to be such members or officers before the delivery of such bonds, such signatures shall, nevertheless, be valid and sufficient for all purposes, the same as if such members or officers had remained in office until such delivery.

(6) Bonds of the bank may be sold at public or private sale at such time or times and at such price or prices as the bank shall determine.

(7) In connection with the issuance of bonds, the board of the bank may delegate to the executive director of the bank the power to determine the time or times of sale of such bonds, the amounts of such bonds, the maturities of such bonds, the rate or rates of interest of such bonds, and such other terms and details of the bonds, as may be determined by the board of the bank; provided, however, the board of the bank shall have adopted a resolution making such delegation and such resolution shall specify the maximum amount of the bonds which may be outstanding at any one time, the maximum rate of interest or interest rate formula (to be determined in the manner specified in such resolution) to be incurred through the issuance of such bonds and the maximum maturity date of such bonds. The board of the bank may also provide in the resolution authorizing the issuance of such bonds, in its discretion, (a) for the employment of one or more persons or firms to assist the bank in the sale of the bonds, (b) for the appointment of one or more banks or trust companies, either within or without the State of Mississippi, as depository for safekeeping, and as agent for the delivery and payment, of the bonds, (c) for the refunding of such bonds, from time to time, without further action by the board of the bank, unless and until the board of the bank revokes such authority to refund, and (d) other terms and conditions as the board of the bank may deem appropriate. In connection with the issuance and sale of such bonds, the board of the bank may arrange for lines of credit with any bank, firm or person for the purpose of providing an additional source of repayment for bonds issued pursuant to this section. Amounts drawn on such lines of credit may be evidenced by negotiable or nonnegotiable bonds or other evidences of indebtedness, containing such terms and conditions as the board of the bank may authorize in the resolution approving the same, and such notes or other evidences of indebtedness shall constitute bonds issued under their act. The board of the bank is authorized to pay all costs of issuance of the bonds.

(8) Neither the members of the bank nor any other person executing the bank's bonds issued pursuant to this chapter shall be liable personally on such bonds by reason of the issuance thereof.

(9) Bonds of the bank may be issued under this chapter without obtaining the consent of any department, division, commission, board, body, bureau or agency of the state, and without any other proceeding or the happening of any other conditions or things other than those proceedings, conditions or things which are specifically required by this chapter and by provisions of the resolution authorizing such bonds.

(10) Bonds of the bank may be validated in accordance with the provision of Sections 31-13-1 through 31-13-11 in the same manner as provided therein for bonds issued by a municipality. Any such validation proceedings shall be held in the First Judicial District of Hinds County. Notice thereof shall be given by publication in any newspaper published in the City of Jackson and of general circulation through the state.
Miss. Code Ann. § 31-31-27 — MS Code / Title 31 / Chapter 13 / Section 31-27
Miss. Code Ann. § 31-31-27
Status: in_force

The State Treasurer is authorized to certify to the State Fiscal Officer the necessity for warrants, and the State Fiscal Officer is authorized and directed to issue such warrants, in such amounts as may be necessary to pay when due the principal of, premium, if any, and interest on, or the accredited value of, all bonds issued under this chapter; and the State Treasurer shall forward the necessary amount to the designated place or places of payment of such bonds in ample time to discharge such bonds, or the interest on the bonds, on their due dates.
Miss. Code Ann. § 31-17-53 — MS Code / Title 31 / Chapter 11 / Section 17-53
Miss. Code Ann. § 31-17-53
Status: in_force

The counties, municipalities, and other local authorities possessing power to refund bonds under any statute of Mississippi may, for retiring and paying such refunding bonds and interest, pledge and make applicable to and available therefor any and all securities, properties, and taxes that were pledged, applicable to, or available for the paying of the original issue and interest thereon, so refunded, but only to the same extent, amount, and purposes.
Miss. Code Ann. § 31-31-17 — MS Code / Title 31 / Chapter 19 / Section 31-17
Miss. Code Ann. § 31-31-17
Status: in_force

The principal of and interest on the bonds authorized under this chapter shall be payable in the manner provided in this section. Such bonds shall bear such date or dates, be in such denomination or denominations, bear interest at such rate or rates not exceeding the limits set forth in Section 75-17-101 , be payable at such place or places within or without the State of Mississippi, shall mature absolutely at such time or times not to exceed twenty (20) years from date of issue, be redeemable before maturity at such time or times and upon such terms, with or without premium, shall bear such registration privileges, and shall be substantially in such form, all as determined by resolution of the State Bond Commission.
Miss. Code Ann. § 31-29-23 — MS Code / Title 31 / Chapter 3 / Section 29-23
Miss. Code Ann. § 31-29-23
Status: in_force

Except as otherwise authorized in Section 7-5-39 , the Attorney General of the State of Mississippi shall represent the State Bond Commission in issuing, selling and validating bonds herein provided for, and the bond commission is hereby authorized and empowered to expend from the proceeds derived from the sale of the bonds authorized hereunder all necessary administrative, legal and other expenses incidental and related to the issuance of bonds authorized under this chapter.
Miss. Code Ann. § 31-29-1 — MS Code / Title 31 / Chapter 7 / Section 29-1
Miss. Code Ann. § 31-29-1
Status: in_force

As used in this chapter, “general obligation bonds” means bonds of the State of Mississippi, to the repayment of which, both as to principal and interest, the full faith, credit and taxing power of the State of Mississippi are irrevocably pledged until the principal and interest is paid in full.
Miss. Code Ann. § 31-25-28 — MS Code / Title 31 / Chapter 5 / Section 25-28
Miss. Code Ann. § 31-25-28
Status: repealed

(1) Local governmental units may borrow money or receive grants from the bank for any of the purposes set forth in this section or Section 31-25-20(g) and pay to the bank such fees and charges for services as the bank may prescribe. Whenever any such loan is made to a local governmental unit, such local governmental unit may use available revenues for the repayment of the principal of, premium, if any, and interest on such loan, and pledge such available revenues or monies for the repayment of the principal of, premium, if any, and interest on such loan. It is the intention of the Legislature that any such pledge of revenues or other monies shall be valid and binding from the date the pledge is made; that such revenues or other monies so pledged and thereafter received by the local governmental unit shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and that the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the local governmental unit irrespective of whether such parties have notice thereof; and neither the resolutions, contracts or any other instrument by which a pledge is created need be recorded.

(2) Local governmental units may contract with the bank with respect to any such loan and such contract shall contain such terms and conditions as may be prescribed by the bank.

(3) Local governmental units may in connection with any such loan enter into any covenants and agreements with respect to such local governmental unit's operations, revenues, assets, monies, funds or property, or such loan, as may be prescribed by the bank.

(4) Upon the making of any such loan by the bank to any local governmental unit, such local governmental unit shall be held and be deemed to have agreed that if such governmental unit fails to pay the principal of, premium, if any, and interest on any such loan as when due and payable, such governmental unit shall have waived any and all defenses to such nonpayment, and the bank, upon such nonpayment, shall thereupon avail itself of all remedies, rights and provisions of law applicable in such circumstance, including, without limitation, any remedies or rights theretofore agreed to by the local governmental unit, and that such loan shall for all of the purposes of this section, be held and be deemed to have become due and payable and to be unpaid. The bank may carry out the provisions of this section and exercise all of the rights and remedies and provisions of law provided or referred to in this section and of all other applicable laws of the state.

(5) Any local governmental unit that borrows from the bank under this section may agree in writing with the bank that, as provided in this subsection, the Department of Revenue or any state agency, department or commission created pursuant to state law shall (a) withhold all or any part (as agreed by the local governmental unit) of any monies that such local governmental unit is entitled to receive from time to time pursuant to any law and that is in the possession of the Department of Revenue or any state agency, department or commission created pursuant to state law and (b) pay the same over to the bank to satisfy any delinquent payments on any such loan made to such local governmental unit under the provisions of this section and any other delinquent payments due and owing the bank by such local governmental unit, all as the same shall occur. If the bank files a copy of such written agreement, together with a statement of delinquency, with the Department of Revenue or any state agency, department or commission created pursuant to state law, then the Department of Revenue or any state agency, department or commission created pursuant to state law shall immediately make the withholdings provided in such agreement from the amounts due the local governmental unit and shall continue to pay the same over to the bank until all such delinquencies are satisfied.

(6) Before authorizing any loan for any of the purposes enumerated in Section 31-25-20(e) , the governing authority of the local governmental unit shall adopt a resolution declaring its intention so to do, stating the amount of the loan proposed to be authorized and the purpose for which the loan is to be authorized, and the date upon which the loan will be authorized. Such resolution shall be published once a week for at least three (3) consecutive weeks in at least one (1) newspaper published in such local governmental unit. The first publication of such resolution shall be made not less than twenty-one (21) days before the date fixed in such resolution for the authorization of the loan and the last publication shall be made not more than seven (7) days before such date. If no newspaper is published in such local governmental unit, then such notice shall be given by publishing the resolution for the required time in some newspaper having a general circulation in such local governmental unit 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 such local governmental unit. If fifteen percent (15%) of the qualified electors of the local governmental unit or fifteen hundred (1500), whichever is the lesser, file a written protest against the authorization of such loan on or before the date specified in such resolution, then an election on the question of the authorization of such loan shall be called and held as otherwise provided for in connection with the issuance of general obligation indebtedness of such local governmental unit. Notice of such election shall be given as otherwise required in connection with the issuance of general obligation indebtedness of such local governmental unit. If three-fifths ( 3 / 5 ) of the qualified electors voting in the election vote in favor of authorizing the loan, then the governing authority of the local governmental unit shall proceed with the loan; however, if less than three-fifths ( 3 / 5 ) of the qualified electors voting in the election vote in favor of authorizing the loan, then the loan shall not be incurred. If no protest be filed, then such loan may be entered into by the local governmental unit without an election on the question of the authorization of such loan, at any time within a period of two (2) years after the date specified in the resolution. However, the governing authority of any local governmental unit in its discretion may nevertheless call an election on such question, in which event it shall not be necessary to publish the resolution declaring its intention to authorize such loan as provided in this subsection.

(7) [Repealed.]

(8)(a) In connection with any refunding of the Ten Million Five Hundred Seventy Thousand Dollars ($10,570,000.00), State of Mississippi, Department of Rehabilitation Services, Certificates of Participation (State of Mississippi, Department of Rehabilitation Services Project) dated August 1, 1993, the bank may issue its bonds to provide for such refunding and the Department of Rehabilitation Services may borrow money from the bank for the purpose of providing for the refunding of such Certificates of Participation. The Department of Rehabilitation Services may contract with the bank with respect to any loan from the bank under this paragraph (a), to provide for the refunding of such Certificates of Participation and such loan from the bank may include any terms and conditions as provided for in this section. In connection with the refunding of the Certificates of Participation pursuant to this paragraph (a), such refunding shall result in an overall net present value savings to maturity of not less than two percent (2%) of the Certificates of Participation being refunded.

(b) The Department of Rehabilitation Services may borrow money from the bank in an amount not to exceed Seven Million Dollars ($7,000,000.00) for the purpose of construction at, and repair and renovation, furnishing and equipping of, the department's office building located in Madison, Mississippi.

(c) In connection with any loan under this subsection (8), the Department of Rehabilitation Services shall not be required to meet the requirements of Section 31-25-27(14) .

(9) [Repealed.]

(10) This section shall be deemed to provide an additional, alternative and complete method for the doing of the things authorized by this section and shall be deemed and construed to be supplemental to any power conferred by other laws on local governmental units and not in derogation of any such powers. Any loan made pursuant to the provisions of this section shall not constitute an indebtedness of the local governmental unit within the meaning of any constitutional or statutory limitation or restriction. In connection with a loan under this chapter, a local governmental unit shall not be required to comply with the provisions of any other law except as provided in this section.
Miss. Code Ann. § 31-19-1 — MS Code / Title 31 / Chapter 8 / Section 19-1
Miss. Code Ann. § 31-19-1
Status: in_force

Except as otherwise provided, any county or municipality may issue any bonds as serial bonds or as a single-term bond.
Miss. Code Ann. § 31-31-7 — MS Code / Title 31 / Chapter 11 / Section 31-7
Miss. Code Ann. § 31-31-7
Status: in_force

The commission shall have the following powers:

(a) To sue and be sued in its own name;

(b) To maintain offices at such places as it may designate;

(c) To establish, construct, enlarge, improve, maintain, equip, operate and regulate the facility and other property incidental thereto, including any additional property or facilities considered by the commission to promote the business, usage or economic viability of the facility;

(d) To grant to others the privilege to operate for profit concessions, leases and franchises, including but not limited to, the furnishing of food and banquet services, management services, and other services necessary to the operation of the facility and such concessions, leases and franchises shall be exclusive or limited;

(e) To determine fees, rates and charges for the use of its facilities;

(f) To apply for and accept gifts, or grants of money or gifts, grants or loans of other property or other financial assistance from any source;

(g) To borrow funds needed to carry out the purposes of this chapter; provided, however, that such debt may be secured only by the revenues generated by the facility, funds generated by the tax levied pursuant to Section 31-31-11 and the proceeds of any bonds issued pursuant to this chapter;

(h) To appoint, employ or engage such officers, employees, architects, engineers, attorneys, accountants, financial advisors, investment bankers and other advisors, consultants, and agents as may be necessary or appropriate;

(i) To make, assume and enter into all contracts, leases and arrangements necessary or incidental to the exercise for its powers, including contracts for management, operation or marketing of all or any part of its facilities;

(j) To adopt, amend and repeal rules and regulations for the use, maintenance and operation of its facilities and governing the conduct of persons and organizations using its facilities and to enforce such rules and regulations; and

(k) To do all things necessary or convenient to the purposes of this chapter.
Miss. Code Ann. § 31-29-25 — MS Code / Title 31 / Chapter 27 / Section 29-25
Miss. Code Ann. § 31-29-25
Status: in_force

(1) Audits of the Institute for Technology Development (ITD) are to be performed by the State Auditor in accordance with the provisions of this section. Such audits shall be conducted by the State Auditor in a manner that will result in the review of the ITD's use of funds from the perspective of ITD's fiscal year, not the state's fiscal year. In conducting these audits, the State Auditor may rely to the maximum extent possible upon audits of ITD conducted by independent auditors in accordance with the provisions of the “Standards for Audit of Governmental Organizations, Programs, Activities and Functions” published by the Comptroller General of the United States and Circular A-133 “Audits of Institutions of Higher Learning and Other Non-Profit Institutions” published by the Office of Management and Budget. ITD shall present the results of any and all such audits to the State Auditor for review and incorporation into his reports to the Legislative Budget Committee.

(2) For any state fiscal year during which the Institute for Technology Development receives funds from the State of Mississippi, the State Department of Audit shall conduct a financial and legal compliance audit with respect to the use of such funds by the institute. The department shall incorporate in its audit report any recommendations it has concerning the financial and management control practices of the institute. The department shall report its findings and recommendations to the Legislative Budget Committee which shall make them available to members of the Legislature.
Miss. Code Ann. § 31-29-11 — MS Code / Title 31 / Chapter 5 / Section 29-11
Miss. Code Ann. § 31-29-11
Status: in_force

Upon the issuance and sale of such bonds, the State Bond Commission shall transfer the proceeds of any such sale or sales to a special fund in the State Treasury to be known as the “Institute for Technology Development Fund.” The proceeds of such bonds shall be used solely for the payment of the cost of the state's share of supporting the Institute for Technology Development, which shall include costs incident to the issuance and sale of such bonds, and shall be disbursed solely upon the order of the State Treasurer under such restrictions, if any, as may be contained in the resolution providing for the issuance of the bonds.
Miss. Code Ann. § 31-8-5 — MS Code / Title 31 / Chapter 3 / Section 8-5
Miss. Code Ann. § 31-8-5
Status: in_force

All such leases shall contain an option granting to the county or municipality the right to purchase the leased property upon the expiration of the primary term, or upon such earlier date as may be agreed upon, at a price not to exceed the unpaid principal balance at such time.