Miss. Code Ann. § 57-10-527 — MS Code / Title 57 / Chapter 1 / Section 10-527
Miss. Code Ann. § 57-10-527
Status: in_force

(1) Whenever bonds are issued, they shall be offered for sale at not less than par value and accrued interest and shall be sold by the seller at public or private sale, from time to time, in such manner and at such price as may be determined by the seller to be most advantageous.

(2) Any portion of any bond issue so offered and not sold or subscribed for at public sale may be disposed of by private sale by the seller in such manner and at such prices not less than par and accrued interest, as the seller shall direct.

(3) When bonds are issued from time to time, the bonds of each issue shall constitute a separate series to be designated by the seller or may be combined for sale as one (1) series with other general obligation bonds of the State of Mississippi.

(4) Until permanent bonds can be prepared, the seller may in its discretion issue, in lieu of permanent bonds, temporary bonds in such form and with such privileges as to registration and exchange for permanent bonds as may be determined by the seller.

(5) Pending their application to the purposes authorized, bond proceeds held or deposited by the State Treasurer may be invested or reinvested as are other funds in the custody of the State Treasurer in the manner provided by law. All earnings received from the investment or deposit of such funds shall be paid into the State Treasury to the credit of the Mississippi Small Business Assistance Fund.

(6) The State Treasurer shall prepare the necessary registry book to be kept in the office of the duly authorized loan and transfer agent of the state for the registration of any bonds, at the request of owners thereof, according to the terms and conditions of issue directed by the seller.

(7) All costs and expenses in connection with the issue of and sale and registration of the bonds and notes in connection with this article, and all costs and expenses in connection with implementation of the program and development of application forms, procedures and requirements for use in connection with the program may be paid from the proceeds of bonds and notes issued under this article.

(8) The seller may provide in the resolution authorizing the issuance of such bonds for the employment of one or more persons or firms to assist in the sale of the bonds; to enter into contracts with financial institutions located either within or without the State of Mississippi to act as registrar, paying agents, transfer agents or otherwise; for rating of the bonds; and to purchase insurance.
Miss. Code Ann. § 57-41-11 — MS Code / Title 57 / Chapter 33 / Section 41-11
Miss. Code Ann. § 57-41-11
Status: in_force

Notes issued under the provisions of this chapter shall be legal investments for commercial banks, savings and loan associations and insurance companies organized under the laws of this state.
Miss. Code Ann. § 57-31-13 — MS Code / Title 57 / Chapter 19 / Section 31-13
Miss. Code Ann. § 57-31-13
Status: in_force

The authority may sell such bonds in such manner and for such price as it may determine to be for the best interest of the State of Mississippi, 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 (1) or more newspapers published in such county and in one (1) or more other newspapers or financial journals as may be directed by the authority.
Miss. Code Ann. § 57-100-3 — MS Code / Title 57 / Chapter 71 / Section 100-3
Miss. Code Ann. § 57-100-3
Status: in_force

(1) Except as otherwise provided in this section, a qualified business or industry that meets the qualifications specified in this chapter may receive quarterly incentive payments for a period not to exceed two (2) years from the State Tax Commission pursuant to the provisions of this chapter in an amount which shall be equal to the lesser of three and one-half percent (3- 1 / 2 %) of the wages and taxable benefits for qualified jobs or the actual amount of Mississippi income tax withheld by the employer for the qualified jobs. The two-year period shall begin the quarter after the State Tax Commission verifies that the required number of jobs have been created.

(2) In order to receive incentive payments, an establishment shall apply to the MDA. The application shall be on a form prescribed by the MDA and shall contain such information as may be required by the MDA to determine if the applicant is qualified.

(3) In order to qualify to receive such payments, the establishment applying shall be required to:

(a) Be engaged in a qualified business or industry; and

(b) The business or industry must create a minimum of ten (10) qualified jobs within six (6) months after the date of the application and maintain at least ten (10) qualified jobs.

(4) Upon approval of such an application, the MDA shall notify the State Tax Commission and shall provide it with a copy of the approved application. The State Tax Commission may require the qualified business or industry to submit such additional information as may be necessary to administer the provisions of this chapter. The State Tax Commission shall verify that at least ten (10) qualified jobs have been created within six (6) months after the date of the application before incentive payments may begin. The qualified business or industry shall report to the State Tax Commission periodically to show its continued eligibility for incentive payments. The qualified business or industry may be audited by the State Tax Commission to verify such eligibility.

(5) No applications shall be accepted by MDA from and after July 1, 2011.
Miss. Code Ann. § 57-10-527 — MS Code / Title 57 / Chapter 4 / Section 10-527
Miss. Code Ann. § 57-10-527
Status: in_force

(1) Whenever bonds are issued, they shall be offered for sale at not less than par value and accrued interest and shall be sold by the seller at public or private sale, from time to time, in such manner and at such price as may be determined by the seller to be most advantageous.

(2) Any portion of any bond issue so offered and not sold or subscribed for at public sale may be disposed of by private sale by the seller in such manner and at such prices not less than par and accrued interest, as the seller shall direct.

(3) When bonds are issued from time to time, the bonds of each issue shall constitute a separate series to be designated by the seller or may be combined for sale as one (1) series with other general obligation bonds of the State of Mississippi.

(4) Until permanent bonds can be prepared, the seller may in its discretion issue, in lieu of permanent bonds, temporary bonds in such form and with such privileges as to registration and exchange for permanent bonds as may be determined by the seller.

(5) Pending their application to the purposes authorized, bond proceeds held or deposited by the State Treasurer may be invested or reinvested as are other funds in the custody of the State Treasurer in the manner provided by law. All earnings received from the investment or deposit of such funds shall be paid into the State Treasury to the credit of the Mississippi Small Business Assistance Fund.

(6) The State Treasurer shall prepare the necessary registry book to be kept in the office of the duly authorized loan and transfer agent of the state for the registration of any bonds, at the request of owners thereof, according to the terms and conditions of issue directed by the seller.

(7) All costs and expenses in connection with the issue of and sale and registration of the bonds and notes in connection with this article, and all costs and expenses in connection with implementation of the program and development of application forms, procedures and requirements for use in connection with the program may be paid from the proceeds of bonds and notes issued under this article.

(8) The seller may provide in the resolution authorizing the issuance of such bonds for the employment of one or more persons or firms to assist in the sale of the bonds; to enter into contracts with financial institutions located either within or without the State of Mississippi to act as registrar, paying agents, transfer agents or otherwise; for rating of the bonds; and to purchase insurance.
Miss. Code Ann. § 57-31-31 — MS Code / Title 57 / Chapter 7 / Section 31-31
Miss. Code Ann. § 57-31-31
Status: in_force

The authority, in addition to the moneys which may be received by it from the sale of revenue bonds and from the collection of revenues, rents, and earnings derived under the provisions of this chapter, shall have the authority to accept from any public or private agency, or from any individual, grants for or in aid of the construction of any project, or for the payment of bonds, and to receive and accept contributions from any source, of money or property or other things of value to be held, used and applied only for the purposes for which such grants or contributions may be made.
Miss. Code Ann. § 57-44-23 — MS Code / Title 57 / Chapter 40 / Section 44-23
Miss. Code Ann. § 57-44-23
Status: in_force

Upon the issuance and sale of bonds under the provisions of Sections 57-44-11 through 57-44-39 , the State Bond Commission shall transfer the proceeds of any such sale or sales to the special fund created in Section 57-44-7 . The proceeds of such bonds shall be disbursed solely upon the order of the Department of Economic and Community Development under such restrictions, if any, as may be contained in the resolution providing for the issuance of the bonds.
Miss. Code Ann. § 57-55-9 — MS Code / Title 57 / Chapter 31 / Section 55-9
Miss. Code Ann. § 57-55-9
Status: in_force

(1) The Mississippi Mineral Resources Institute, hereinafter referred to as MMRI, is hereby established. The MMRI shall be under the management and control of the board of trustees of state institutions of higher learning. The principal offices of the MMRI shall be located at the University of Mississippi. The MMRI shall be organized to coordinate mining and mineral research, planning and development with the appropriate disciplines in other institutions of higher learning and other state, federal and private agencies concerned with the development and conservation of the mineral resources of the state.

(2) It shall be the function and duties of the MMRI to:

(a) Conduct basic and applied research for the development and conservation of mineral resources, including but not limited to mining, land reclamation and disposal of waste material;

(b) Assist and support mining and mineral related research programs at the various institutions of higher learning;

(c) Assist and consult with state and local agencies in planning the development and conservation of mineral resources;

(d) Maintain liaison with private industry and appropriate state and local agencies to promote industrial development and conservation of mineral resources and plan, initiate and maintain a program of cooperative training between private industry and the academic and technical institutions of the state;

(e) Disseminate new information and facilitate transfer and application of new technologies as they are developed; and

(f) Negotiate and administer contracts with private, local, regional, state and federal agencies.
Miss. Code Ann. § 57-55-19 — MS Code / Title 57 / Chapter 1 / Section 55-19
Miss. Code Ann. § 57-55-19
Status: in_force

The said board of trustees shall provide for such housing, equipment, personnel, supplies and services as it shall determine to be necessary for the proper operation and maintenance of the research institutions established by this chapter, having due regard for the contributory facilities and programs already existing at the various universities. In addition to appropriations made by the Mississippi legislature for the operation and support of the research institutions, the said board of trustees is authorized and empowered to receive contributions, donations, gifts and grants of money or other income and/or property, equipment, materials or manpower from persons, foundations, trust funds, corporations, organizations and other sources, to be expended by said board in carrying out the objectives of this chapter.
Miss. Code Ann. § 57-1-631 — MS Code / Title 57 / Chapter 1 / Section 1-631
Miss. Code Ann. § 57-1-631
Status: in_force

(1) There is created a special fund in the State Treasury to be known as the “Project Poppy Fund” which shall consist of monies from any source designated for deposit into the fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund.

(2)(a) Monies in the fund shall be disbursed by the Mississippi Development Authority for the purpose of providing grants or loans to fund certain projects, as defined in Section 57-75-5(f)(xxxii), Mississippi Code of 1972 , for the manufacture and assembly of battery cells for electric commercial vehicles and industrial applications. Any state agency that receives funds from the Mississippi Development Authority for certain projects, as defined in Section 57-75-5(f)(xxxii) , may accept, budget, receive and expend these funds in accordance with rules and regulations of the Department of Finance and Administration in the manner consistent with the escalation of federal funds.

(b) In addition to the purposes in paragraph (a) of this subsection, monies appropriated out of the fund may be used to reimburse reasonable actual and necessary oversight costs and engineering expenses incurred by the Mississippi Development Authority in providing grants or loans under this section. The Mississippi Development Authority shall maintain an accounting of actual costs and expenses incurred for which reimbursement is sought for each grant or loan. Reimbursement of reasonable actual and necessary costs and expenses for assistance shall not exceed one and twenty-five one-hundredths percent (1.25%) of the monies appropriated out of the fund. Reimbursements made under this paragraph shall satisfy any applicable federal tax law requirements.

(3) On or before January 5 of each year, the Mississippi Development Authority shall file an accounting of and report on funds disbursed from the Project Poppy Fund, including an accounting of the actual costs and expenses incurred by the Mississippi Development Authority and the number and amount of grants and loans. The report shall be filed with the Speaker of the House, the Lieutenant Governor, the Chairs of the Appropriations Committees of the Senate and the House, the Chair of the Finance Committee of the Senate, the Chair of the Ways and Means Committee of the House and the Governor.
Miss. Code Ann. § 57-44-37 — MS Code / Title 57 / Chapter 41 / Section 44-37
Miss. Code Ann. § 57-44-37
Status: in_force

The State Treasurer is authorized to certify to the Department of Finance and Administration the necessity for warrants, and the Executive Director of the Department of Finance and Administration 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 accreted value of, all bonds issued under Sections 57-44-11 through 57-44-39 ; 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 thereon, on the due dates thereof.
Miss. Code Ann. § 57-10-523 — MS Code / Title 57 / Chapter 10 / Section 10-523
Miss. Code Ann. § 57-10-523
Status: in_force

(1) All bonds issued under the authority of this article shall be redeemed at maturity, together with all interest due, from time to time, on the bonds, and these principal and interest payments shall be paid from the General Fund.

(2) In the event that all or any part of the bonds and notes are purchased, they shall be canceled and returned to the loan and transfer agent as canceled and paid bonds and notes; and thereafter all payments of interest thereon shall cease and the canceled bonds, notes and coupons, together with any other canceled bonds, notes and coupons, shall be destroyed as promptly as possible after cancellation but not later than two (2) years after cancellation. A certificate evidencing the destruction of the canceled bonds, notes and coupons shall be provided by the loan and transfer agent to the seller.

(3) The State Treasurer shall determine and report to the Department of Finance and Administration and Legislative Budget Office by September 1 of each year the amount of money necessary for the payment of the principal of and interest on outstanding obligations for the following fiscal year and the times and amounts of the payments. It shall be the duty of the Governor to include in every executive budget submitted to the Legislature full information relating to the issuance of bonds and notes under the provisions of this article and the status of the General Fund for the payment of the principal of and interest on the bonds and notes.

(4) Except as otherwise provided by law, the rate of interest on any assistance made using funds from the Mississippi Small Business Assistance Fund shall be in accordance with Section 57-10-513 . Notwithstanding the provisions of any other law to the contrary, the interest rate charged shall not be set such that the aggregate of the interest, penalties and other payments to the planning and development districts or qualified entities in connection with such assistance made using funds from the Mississippi Small Business Assistance Fund will cause the bonds issued pursuant to this article to be deemed arbitrage bonds pursuant to Section 148 of the Internal Revenue Code of 1986 and the regulations promulgated thereunder. In the case of assistance initially funded from the proceeds of notes and subsequently funded from renewal bonds and notes, the interest rate to be charged on the assistance shall be established in accordance with Section 57-10-513 upon the sale of bonds or notes, as the case may be, for such assistance.
Miss. Code Ann. § 57-61-5 — MS Code / Title 57 / Chapter 41 / Section 61-5
Miss. Code Ann. § 57-61-5
Status: in_force

The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:

(a) “ Department ” means the Mississippi Development Authority.

(b) “ Board ” means the Mississippi Development Authority operating through its executive director.

(c) “ Improvements ” means the construction, rehabilitation or repair of drainage systems; energy facilities (power generation and distribution); fire safety facilities (excluding vehicles); sewer systems (pipe treatment); transportation directly affecting the site of the proposed investment, including roads, sidewalks, bridges, rail, port, river, airport or pipeline (excluding vehicles); bulkheads; buildings; and facilities necessary to accommodate a United States Navy home port; and means land reclamation; waste disposal; water supply (storage, treatment and distribution); land acquisition; and the dredging of channels and basins.

(d) “ Municipality ” means any county or any incorporated city, or town, acting individually or jointly, or any agency of the State of Mississippi operating a state-owned port.

(e) “ Private company ” means any agricultural, aquacultural, maricultural, industrial, manufacturing, service, tourism, or research and development enterprise or enterprises. The term “private company” shall not include any retail trade enterprise except regional shopping malls having a minimum capital investment of One Hundred Million Dollars ($100,000,000.00). The term “private company” shall not include any medical cannabis establishment as defined in the Mississippi Medical Cannabis Act. No more than fifteen percent (15%) of the aggregate funds made available under this chapter shall be used to fund aquacultural, maricultural and tourism enterprises. The funds made available to tourism enterprises under this chapter shall be limited to infrastructure improvements and to the acquisition of land and shall not be made available to fund tourism promotions or to fund the construction, improvement or acquisition of hotels and/or motels or to finance or refinance any obligations of hotels and/or motels.

(f) “ Governmental unit ” means a department or subsidiary of the United States government, or an agency of the State of Mississippi operating a state-owned port.

(g) “ Private match ” means any new private investment by the private company and/or governmental unit in land, buildings, depreciable fixed assets, and improvements of the project used to match improvements funded under this chapter. The term “ private match ” includes improvements made prior to the effective date of this chapter [Laws, 1986, Chapter 419, effective March 31, 1986] pursuant to contracts entered into contingent upon assistance being made available under this chapter.

(h) “ Publicly owned property ” means property which is owned by the local, state or United States government and is not under the control of a private company.

(i) “ Director ” means the Executive Director of the Mississippi Development Authority.

(j) “ Small community ” means a county with a population of twenty-five thousand (25,000) or less; or a municipality with a population of ten thousand (10,000) or less and any area within five (5) miles of the limits of such municipality, according to the most recent federal decennial census.

(k) “ Strategic investment ” means an investment by the private and public sectors that will have a major impact on job creation and maintenance in the state of no less than one hundred fifty (150) jobs, that will have a major impact on enlargement and enhancement of international and foreign trade and commerce to and from the State of Mississippi, or which is considered to be unique to the state and have statewide or regional impact as determined by the department.

(l) “ Seller ” means the State Bond Commission or the State Development Bank.
Miss. Code Ann. § 57-67-19 — MS Code / Title 57 / Chapter 65 / Section 67-19
Miss. Code Ann. § 57-67-19
Status: in_force

(1) Upon notification to the authority by the United States Department of Energy that the state has been finally selected as the site for the project, then the authority shall have the power and is hereby authorized, from time to time, pursuant to contracts entered into under Section 57-67-17 , to borrow money and to issue bonds in such principal amounts as the authority may determine to be necessary to provide funds sufficient to defray all or any designated portion of the costs incurred with respect to the project or any facility related to the project, or any educational, cultural, housing or recreational facility or enhancement offered to secure the siting of the project in the state; provided that prior to said notification, the authority may enter into agreements with the United States Government or others that will commit the authority to issue bonds for eligible undertakings set out in subsection (6) of this section pursuant to contracts entered into under Section 57-67-17 , conditioned on the siting of the project in the state.

(2) Bonds of the authority issued pursuant to Sections 57-67-19 through 57-67-31 shall be payable (except to the extent that payment may be made from bond proceeds deposited or accumulated in any capitalized interest fund or bond reserve fund) solely from and secured by a pledge of all or any designated part of the revenues received by the authority pursuant to contracts entered into with one or more public agencies pursuant to Section 57-67-17 . Such bonds may be further secured by a trust indenture between the authority and a corporate trustee, which may be any trust company or bank having powers of a trust company within or without the state, and by reserves established to secure the payment of principal of and interest on such bonds. Any pledge of earnings, revenues or other moneys made by the authority shall be valid and binding from the time the pledge is made. The earnings, revenues or other moneys so pledged and thereafter received by the authority shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind against the authority whether such parties have or do not have notice thereof. Neither the bond resolution, trust indenture nor any other instrument by which a pledge is created need be recorded.

(3) Bonds of the authority issued pursuant to Sections 57-67-19 through 57-67-31 may be authorized and issued in one or more series by a resolution or resolutions of the authority, without publication of notice of intent and without an election on the question of the issuance thereof. Such bonds shall bear such date or dates, mature at such time or times, bear interest at such rate or rates, be in such denomination or denominations, be in such form, carry such conversion privileges, have such rank or priority, be executed in such manner and by such officers, be payable from such sources in such medium of payment at such place or places within or without the state, be subject to such terms of redemption prior to maturity, all as may be provided by resolution or resolutions of the authority. Such bonds may be executed and delivered at any time as a single issue or from time to time as several issues, and may mature or become payable in such amounts and at such time or times not exceeding thirty (30) years from their date, all as may be provided by resolution or resolutions of the authority.

(4) Bonds of the authority issued pursuant to Sections 57-67-19 through 57-67-31 may be sold at a price not less than ninety-eight percent (98%) of par value plus accrued interest, at public or private sale, at such times as may be determined by the authority to be in the public interest, and the authority may pay all expenses, premiums, fees and commissions which it may deem necessary and advantageous in connection with the issuance and sale thereof.

(5) Whenever any bonds issued pursuant to Sections 57-67-19 through 57-67-31 shall have been signed by the officer(s) designated by the resolution of the authority to sign the bonds, who were in office at the time of such signing but who may have ceased to be such officer(s) prior to the sale and delivery of such bonds, or who may not have been in office on the date such bonds may bear, the manual or facsimile signatures of such officer(s) upon such bonds shall nevertheless be valid and sufficient for all purposes and have the same effect as if the person so officially executing such bonds had remained in office until the delivery of the same to the purchaser or had been in office on the date such bonds may bear.

(6) Proceeds from the sale of bonds issued pursuant to Sections 57-67-19 through 57-67-31 may be applied for the purposes of (a) defraying all or any designated portion of the costs incurred with respect to the project or any facility related to the project, or any educational, cultural, housing or recreational facility offered as an enhancement to secure the siting of the project in the state, including costs of design and engineering, all costs incurred to provide land, easements, rights-of-way and relocation costs with respect to the project and with respect to any such facility; (b) providing for the payment of interest on the bonds; (c) providing debt service reserves; and (d) paying underwriters discount, original issue discount, accountants' fees, engineers' fees, attorneys' fees, rating agency fees and other fees and expenses in connection with the issuance of the bonds and other necessary and proper expenses of the authority in connection with the project or any such facility. Proceeds from the sale of bonds issued pursuant to Sections 57-67-19 through 57-67-31 may be invested, subject to federal limitations, pending their use, in such securities as may be specified in the resolution authorizing the issuance of the bonds or the trust indenture securing them, and the earning on such investment applied as provided in such resolution or trust indenture.

(7) Neither the executive director of the authority nor any person executing the bonds shall be personally liable on the bonds or be subject to any personal liability or accountability by reason of the issuance thereof.

(8) In anticipation of the issuance of bonds under Sections 57-67-19 through 57-67-31 , the authority is hereby authorized to negotiate and enter into any loan or credit agreement with any bank, trust company or other lending institution for the purpose of making any payments authorized under this chapter. All borrowings made under this provision shall be evidenced by notes of the authority which shall be issued from time to time, for such amounts not exceeding the amount of bonds authorized herein, in such form and in such denomination and subject to such terms and conditions of sale and issuance, prepayment or redemption and maturity, rate or rates of interest, and time of payment of interest as the authority shall agree to in such agreement. Such notes may also be issued for the purpose of refunding previously issued notes; provided that no notes shall mature more than three (3) years following the date of issuance of the first note hereunder and provided further, that all outstanding notes shall be retired from the proceeds of the first issuance of bonds hereunder. The authority is authorized to provide for the compensation of any purchaser of the notes by payment of a fixed fee or commission and for all other costs and expenses of issuance and service, including paying agent costs. Such costs and expenses may be paid from the proceeds of the notes.
Miss. Code Ann. § 57-55-17 — MS Code / Title 57 / Chapter 25 / Section 55-17
Miss. Code Ann. § 57-55-17
Status: in_force

(1) The Mississippi Urban Research Center, hereinafter referred to as the MURC, is hereby established under the management and control of the Board of Trustees of State Institutions of Higher Learning. The principal officers of the MURC shall be located at Jackson State University and shall be under the direction of the president of the university subject to the governance of the board of trustees. The president shall appoint a director of the MURC who shall recommend to the president necessary professional and administrative staff of the center, all subject to the approval of the board of trustees.

(2) It shall be the function of the urban research center to conduct basic and applied research into urban problems and public policy and to make available the results of this research to private groups, public bodies and public officials. They may offer consultations and general advisory services concerning urban problems and their solutions. According to the policies of the Board of Trustees of State Institutions of Higher Learning and with its approval, they may conduct instructional and training programs for those who are working in or expect to make careers in urban public service. Such training programs may be conducted by Jackson State University either in its own name or by agreement and cooperation with other public and private organizations. The MURC personnel shall cooperate fully with the various departments of the state government, with the colleges and universities of the state, with the University Research Center, with the Mississippi Department of Economic Development, and with other research and development agencies in an effort to fully effectuate the purpose of this section. All state agencies and departments are hereby authorized and directed to give the MURC and its personnel their full cooperation in every possible manner.
Miss. Code Ann. § 57-31-17 — MS Code / Title 57 / Chapter 31 / Section 31-17
Miss. Code Ann. § 57-31-17
Status: in_force

Such revenue bonds may be issued without any other proceedings or the happening of any other conditions or things than those proceedings, conditions, and things which are specified or required by this chapter. The bonds authorized under the authority of this chapter may, in the discretion of the authority, be validated in the chancery court of such county in the manner and with the force and effect as provided by law for the validation of county, municipal, school district, and other bonds.
Miss. Code Ann. § 57-61-37 — MS Code / Title 57 / Chapter 44 / Section 61-37
Miss. Code Ann. § 57-61-37
Status: in_force

(1) Each municipality is hereby authorized and empowered to borrow money from the board pursuant to the terms and provisions of this chapter. Each municipality is further authorized and empowered to pay to the board such fees and charges for services hereunder as the board may prescribe.

(2) Each municipality is hereby authorized to evidence the borrowing of money from the board pursuant to this chapter by the issuance of evidences of indebtedness under the provisions of this section and to sell such evidences of indebtedness to the board to raise money for any purpose or purposes for which the board is authorized to loan money to such municipality under the terms of this chapter. Except as specifically provided in this chapter, such evidences of indebtedness shall be issued in accordance with the provisions of Sections 21-33-307, 21-33-309, 21-33-311, 21-33-313, 21-33-315, 21-33-317, 21-33-319, 21-33-321 and 21-33-323 in the case of cities or incorporated towns, and in accordance with the provisions of Sections 19-9-7, 19-9-9, 19-9-11, 19-9-13, 19-9-15, 19-9-17, 19-9-19, 19-9-21, 19-9-23, 19-9-25 and 19-9-29 in the case of counties. Bonds or other evidences of indebtedness which are issued either pursuant to this chapter, or pursuant to any other law as evidence of loans made pursuant to this chapter, shall not be deemed indebtedness within the meaning specified in Section 21-33-303 with regard to cities or incorporated towns, and in Section 19-9-5 with regard to counties. The preceding sentence shall apply to all such bonds and evidences of indebtedness outstanding as of the effective date of this provision and to all such bonds and evidences of indebtedness hereafter issued.

(3) In connection with the issuance of evidences of indebtedness under the provisions of this chapter by cities, incorporated towns and counties, the following provisions shall specifically apply:

(a) When publishing notice of intent to issue bonds as required under the terms of Section 21-33-307 or Section 19-9-11 , as the case may be, the municipality shall publish such notice once a week for three (3) consecutive weeks, the first publication to be not less than twenty-one (21) days prior to the date set for authorizing such issuance and the last publication to be not more than seven (7) days prior to such date.

(b) Such evidences of indebtedness shall be secured: (i) by the revenues derived by the municipality from the ownership, operation or lease of the project or improvements funded with proceeds of the loan from the board to such municipality under the terms of this chapter or by loan repayments from the private company derived by the municipality from the loan to the private company of the proceeds of the loan from the board to such municipality under the terms of this chapter, but only to the extent, in whole or in part, pledged by the municipality, which pledge may be on a basis subordinate to other obligations or agreements of the municipality; (ii) by the sources of repayment provided for under the terms of subsections (7) and (8) of Section 57-61-15 of this chapter; (iii) and as provided by Chapter 33, Title 21, Mississippi Code of 1972 , in the case of cities and incorporated towns, and Chapter 9, Title 19, Mississippi Code of 1972 , in the case of counties but only in the event that the sources provided by items (i) and (ii) hereof are insufficient therefor. For the purposes of Section 27-39-321 , the evidences of indebtedness issued hereunder shall be deemed to be “general obligation bonds.”

(c) Such evidences of indebtedness may be sold only to the board at private sale and may be sold at such price or prices, in such manner and at such times as may be agreed to by the municipality and the board, and the municipality may pay all expenses, premiums, fees and commissions which it may deem necessary and advantageous in connection with the issuance and sale thereof and such evidences of indebtedness shall mature at such time or times not exceeding thirty (30) years and in such amounts and shall bear interest at such rate or rates as required for loans made under the provisions of this chapter and as may be agreed upon by the board and the municipality; provided, that in connection with financing a Navy home port, the municipality may obtain a letter of credit and pledge to the repayment thereof the same sources pledged to such evidences of indebtedness or negotiate and enter into a credit agreement, trust indenture or other agreement with any bank, trust company or other lending institution for the purpose of making or receiving any payments required to be made to the United States Navy to accommodate a Navy home port.

(d) The proceeds of such evidences of indebtedness shall be applied to the following: (i) the purpose for which such evidences of indebtedness were issued; (ii) the payment of all costs of issuance of such evidences of indebtedness; (iii) the payment of any fees and charges established by the board; (iv) the payment of interest on such evidences of indebtedness for a period of time not greater than the period of time estimated to be required to complete the purpose for which the evidences of indebtedness were issued or to the extent provided by resolution of the municipality and approved by the board; (v) the payment of any costs relating to obtaining or entering into a credit agreement, loan disbursement agreement, trust indenture or other agreement with any bank, trust company or other lending institution for the purpose of securing, making or receiving any payments required to be made to the United States Navy to accommodate a Navy home port.

(e) Evidences of indebtedness issued under this section may be validated in the manner and with the force and effect provided in Section 31-13-1 et seq.

(f) This section shall be deemed to provide an additional, alternate and complete method for the doing of the things authorized hereby and shall be deemed and construed to be supplemental to any provisions of any other laws and not in derogation of any such provisions. In connection with the issuance of evidences of indebtedness, a municipality shall not be required to comply with the provisions of any other law except as provided herein.
Miss. Code Ann. § 57-61-14 — MS Code / Title 57 / Chapter 5 / Section 61-14
Miss. Code Ann. § 57-61-14
Status: in_force

In accordance with Section 27-65-111 , purchases of tangible personal property or services by a private company, as defined in this chapter, with proceeds of bonds issued under this chapter, shall be exempt from sales tax.
Miss. Code Ann. § 57-10-301 — MS Code / Title 57 / Chapter 10 / Section 10-301
Miss. Code Ann. § 57-10-301
Status: in_force

This article shall be entitled the “Mississippi Business Finance Corporation Beginning Farmer Program.”
Miss. Code Ann. § 57-41-9 — MS Code / Title 57 / Chapter 11 / Section 41-9
Miss. Code Ann. § 57-41-9
Status: in_force

All notes issued by a municipality under authority of this chapter shall be limited obligations of the municipality, the principal of, redemption premium, if any, and interest on which shall be payable solely from revenues received by the municipality pursuant to the loan agreement or pursuant to notes and deeds of trust delivered to the municipality and from such other funds as may be made available to the municipality for such purpose by the terms of the trust agreement. Notes issued under authority of this chapter shall never constitute an indebtedness of the municipality within the meaning of any state constitutional provision or statutory limitation, and shall never constitute nor give rise to a pecuniary liability of the municipality or a charge against its general credit or taxing powers, and such fact shall be plainly stated on the face of each such note. The notes shall not be considered when computing any limitation of indebtedness of the municipality established by law. All notes issued under the authority of this chapter shall be construed to be negotiable instruments, despite the fact that they are payable solely from a specified source.
Miss. Code Ann. § 57-49-11 — MS Code / Title 57 / Chapter 19 / Section 49-11
Miss. Code Ann. § 57-49-11
Status: in_force

The Nuclear Waste Technical Review Committee hereby created and hereinafter referred to as the “committee” shall exercise the powers and duties and discharge the responsibilities enumerated herein.

The committee shall originally consist of eight (8) members, one (1) of whom shall be the Executive Director of the Department of Wildlife, Fisheries and Parks, one (1) of whom shall be Director of the Emergency Management Agency, one (1) of whom shall be the State Health Officer, one (1) of whom shall be the Commissioner of Higher Education, one (1) of whom shall be the Chairman of the Board of Trustees of State Institutions of Higher Learning, one (1) of whom shall be the Executive Director of the Department of Environmental Quality, one (1) of whom shall be the staff member responsible for the Nuclear Waste Program within the Department of Environmental Quality who shall serve as secretary in a nonvoting capacity, and one (1) of whom shall be the Executive Director of the Department of Economic Development. The chairman shall be elected from among the membership of the committee.

Committee members shall be permitted to designate substitute or alternate members to act in their stead, should they be unable to assume the responsibility of serving on the committee. The committee, by a majority vote of its membership, may recommend to the chairman that additional appointments should be made to the committee from other state agencies and the chairman shall make such appointments.

The members of the committee shall receive reimbursement for mileage and actual expenses incurred in the performance of their duties at the rate authorized by Section 25-3-41 . Members of the committee who are state employees shall be reimbursed for those expenses incurred which are authorized by Section 25-3-41 .

Provided that funding is available under Section 57-49-39 , the members of the committee shall receive per diem compensation at the rate authorized by Section 25-3-69 for each day spent in the actual discharge of their duties when attending a meeting of the committee.
Miss. Code Ann. § 57-31-5 — MS Code / Title 57 / Chapter 27 / Section 31-5
Miss. Code Ann. § 57-31-5
Status: in_force

(1) The industrial development authority is hereby expressly authorized and empowered to acquire by gift, purchase or otherwise, and to own, hold, maintain, control and develop real estate situated within the county, either within or without the corporate limits of a municipality for development, use and operation and shall be referred to herein as the “project.” The industrial development authority is further authorized and empowered to engage in works of internal improvement, including, but not limited to, construction or contracting for the construction of streets, roads, railroads, site improvements, water, sewerage, drainage, pollution and other related facilities necessary or required for industrial or commercial use and development within the county, and to acquire, purchase, install, lease, construct, own, hold, equip, control, maintain, use, operate, and repair other structures and facilities necessary and convenient for the planning, development, use, operation and maintenance within the county for industrial or commercial purposes, including, but not limited to, utility installations, elevators, compressors, warehouses, air, rail, and other transportation terminals and pollution control facilities.

(2) The authority is authorized and empowered to sell, lease, trade, exchange or otherwise dispose of industrial sites situated within the county to individuals, firms or corporations, public or private, for industrial or commercial use upon such terms and conditions for consideration and with safeguards as will best promote and protect the public interest, convenience and necessity, and to execute deeds, leases, contracts, easements, and other legal instruments necessary or convenient.

(3) The authority is authorized and empowered to fix and prescribe fees, charges and rates for the use of any water, sewerage, pollution or other facilities constructed and operated within the county and to collect the same from persons, firms and corporations using the same for industrial or commercial purposes.

(4) The authority is authorized and empowered to employ engineers, attorneys, accountants, consultants and such personnel as shall be reasonably necessary to carry out the duties and authority authorized by this chapter.

(5) The authority is expressly authorized and empowered to borrow money and issue negotiable promissory notes evidencing the same under the provisions of Section 57-31-9 . In addition to or in lieu of the pledges authorized in Section 57-31-23 , the authority may secure such notes by the execution of a deed of trust upon any real estate belonging to the authority not otherwise encumbered.

(6) The enumeration of any specific rights and powers contained herein, and elsewhere in this chapter, where followed by general powers, shall not be construed in a restrictive sense, but rather in as broad and comprehensive a sense as possible to effectuate the purposes of this chapter.

(7)(a) Any such sale, lease, trade, exchange or other disposition of industrial sites may be made, completed or executed upon such terms and conditions and for such monetary or other consideration as may be found adequate and approved by the authority in orders or resolutions authorizing the same subject to the provisions of paragraphs (b) and (c) of this subsection.

(b) In cases involving the lease of industrial sites, any covenants and obligations of the lessee to make expenditures in determined amounts, and within such time or times, for improvements to be erected on the land by such lessee and to conduct thereon industrial operations in such aggregate payroll amounts and for such period of time or times as may be determined by the authority and defined in the transaction documents, and to give preference in employment where practicable to qualified residents of the county, shall, if included in the transaction documents, constitute and be deemed sufficient consideration for the execution of any such transaction document in the absence of a monetary or other considerations. A lease may contain reasonable provisions giving the lessee the right to remove its or his improvements upon termination of the lease.

(c) In cases other than a lease of an industrial site, any covenants and obligations of the grantee to make expenditures in determined amounts, and within such time or times, for improvements to be erected on the land by such grantee and to conduct thereon industrial operations in such aggregate payroll amounts and for such period of time or times as may be determined by the authority and defined in the transaction documents, and to give preference in employment where practicable to qualified residents of the county, shall, if included in the transaction documents, constitute and be deemed sufficient consideration for the execution of any such transaction document in the absence of a monetary or other considerations.
Miss. Code Ann. § 57-57-13 — MS Code / Title 57 / Chapter 25 / Section 57-13
Miss. Code Ann. § 57-57-13
Status: in_force

The board may promulgate necessary rules and regulations and prescribe procedures to effectuate the purposes of this chapter.
Miss. Code Ann. § 57-44-11 — MS Code / Title 57 / Chapter 28 / Section 44-11
Miss. Code Ann. § 57-44-11
Status: in_force

(1) The State Bond Commission, at one time, or from time to time, may declare by resolution the necessity for issuance of general obligation bonds of the State of Mississippi to provide funds for all costs incurred or to be incurred for the purposes described in Section 57-44-7 . Upon the adoption of a resolution by the Mississippi Development Authority, declaring the necessity for the issuance of any part or all of the general obligation bonds authorized by this section, the Mississippi Development Authority shall deliver a certified copy of its resolution or resolutions to the State Bond Commission. Upon receipt of such resolution, the State Bond Commission, in its discretion, may act as the issuing agent, prescribe the form of the bonds, advertise for and accept bids, issue and sell the bonds so authorized to be sold and do any and all other things necessary and advisable in connection with the issuance and sale of such bonds. The total amount of bonds issued under Sections 57-44-11 through 57-44-39 shall not exceed Eighteen Million Dollars ($ 18,000,000.00).

(2) Proceeds from the sale of bonds shall be deposited in the special fund created in Section 57-44-7 . Any investment earnings on amounts deposited into the special fund created in Section 57-44-7 shall be used to pay debt service on bonds issued under Sections 57-44-11 through 57-44-39 , in accordance with the proceedings authorizing issuance of such bonds.
Miss. Code Ann. § 57-61-41 — MS Code / Title 57 / Chapter 29 / Section 61-41
Miss. Code Ann. § 57-61-41
Status: in_force

(1) Notwithstanding any provision of this chapter to the contrary, the Mississippi Development Authority shall utilize not more than Twelve Million Dollars ($ 12,000,000.00) out of the proceeds of bonds authorized to be issued in this chapter to be made available to state, county or municipal port and airport authorities through a Port Revitalization Revolving Loan Fund for the purpose of making loans to port authorities for the improvement of port and airport facilities to promote commerce and economic growth. Proceeds shall not be made available to provide any facilities for utilization by a gaming vessel.

(2) In exercising its authority, the Mississippi Development Authority shall work in conjunction with the Water Resources Council to establish criteria and guidelines to govern loans made pursuant to this section.

(3) The Mississippi Development Authority may, on a case-by-case basis, renegotiate the payment of principal and interest on loans made under this section to state, county and municipal port and airport authorities located in the six (6) most southern counties of the state covered by the Presidential Declaration of Major Disaster for the State of Mississippi (FEMA-1604-DR) dated August 29, 2005; however, the interest on the loans shall not be forgiven for a period of more than twenty-four (24) months and the maturity of the loans shall not be extended for a period of more than forty-eight (48) months.
Miss. Code Ann. § 57-125-3 — MS Code / Title 57 / Chapter 78 / Section 125-3
Miss. Code Ann. § 57-125-3
Status: in_force

(1) There is created in the State Treasury a special fund to be known as the “MMEIA Tax Incentive Fund,” into which shall be deposited such money as provided in Section 27-65-75(22) . The monies in the fund shall be used for the purpose of making the incentive payments authorized in this chapter. The fund shall be administered by the MDA. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned on or investment earnings on the amounts in the fund shall be deposited to the credit of the fund. The MDA may use not more than one percent (1%) of interest earned or investment earnings, or both, on amounts in the fund for administration and management of the incentive program authorized under this chapter.

(2) Subject to the provisions of this section, incentive payments may be made by the MDA to an approved participant that incurs component construction material and labor costs to locate an MMEIA construction rebate project in the state. The payments to an approved participant shall be for an amount equal to three and fifteen one-hundredths percent (3.15%) of the total construction costs paid to construction contractors pursuant to construction contracts subject to the tax imposed by Section 27-65-21 . The MDA shall make payments to an approved participant no more frequently than a quarterly basis. The MDA shall make the calculations necessary to make the payments provided for in this section. The MDA shall cease making incentive payments to an approved participant no later than December 31, 2057. At such time that incentive payments are no longer required to be made to an approved participant, the MDA shall notify the Department of Revenue, and the sales tax revenue shall no longer be deposited into the MMEIA Tax Incentive Fund. Any amounts remaining in the fund that were collected from such project shall be transferred to the State General Fund.
Miss. Code Ann. § 57-85-5 — MS Code / Title 57 / Chapter 71 / Section 85-5
Miss. Code Ann. § 57-85-5
Status: in_force

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

(a) “ MDA ” means the Mississippi Development Authority.

(b) “ Project ” means construction, rehabilitation or repair of buildings; sewer systems and transportation directly affecting the site of the proposed rural business; sewer facilities, acquisition of real property, development of real property, improvements to real property, and any other project approved by the Mississippi Development Authority. The term “project” does not include any medical cannabis establishment as defined in the Mississippi Medical Cannabis Act.

(c) “ Rural business ” means a new or existing business located or to be located in a rural community or a business or industry located or to be located within five (5) miles of a rural community. “Rural business” does not include gaming businesses or utility businesses, or medical cannabis establishments as defined in the Mississippi Medical Cannabis Act.

(d) “ Rural community ” means a county in the State of Mississippi that meets the population criteria for the term “limited population county” as provided in Section 57-1-18 . “Rural community” also means a municipality in the State of Mississippi that meets the population criteria for the term “small municipality” as provided in Section 57-1-18 .

(2)(a) There is created in the State Treasury a special fund to be designated as the “Mississippi Rural Impact Fund,” which shall consist of funds appropriated or otherwise made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used to make grants and loans to rural communities and loan guaranties on behalf of rural businesses to assist in completing projects under this section.

(b) Monies in the fund which are derived from proceeds of bonds issued after April 15, 2003, may be used to reimburse reasonable actual and necessary costs incurred by the MDA for the administration of the various grant, loan and financial incentive programs administered by the MDA. An accounting of actual costs incurred for which reimbursement is sought shall be maintained by the MDA. Reimbursement of reasonable actual and necessary costs shall not exceed three percent (3%) of the proceeds of bonds issued. Reimbursements under this paragraph (b) shall satisfy any applicable federal tax law requirements.

(c) The MDA may use monies in the fund to pay for the services of architects, engineers, attorneys and such other advisors, consultants and agents that the MDA determines are necessary to review loan and grant applications and to implement and administer the program established under this section.

(d) The State Auditor may conduct performance and compliance audits under this chapter according to Section 7-7-211(o) and may bill the oversight agency.

(3) The MDA shall establish a program to make grants and loans to rural communities and loan guaranties on behalf of rural businesses from the Mississippi Rural Impact Fund. A rural community may apply to the MDA for a grant or loan under this section in the manner provided for in this section. A rural business may apply to the MDA for a loan guaranty under this section in the manner provided in this section.

(4) A rural community desiring assistance under this section must submit an application to the MDA. The application must include a description of the project for which assistance is requested, the cost of the project for which assistance is requested and any other information required by the MDA. A rural business desiring assistance under this section must submit an application to the MDA. The application must include a description of the purpose for which assistance is requested and any other information required by the MDA. The MDA may waive any requirements of the program established under this section in order to expedite funding for unique projects.

(5) The MDA shall have all powers necessary to implement and administer the program established under this section, and the MDA shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.
Miss. Code Ann. § 57-44-39 — MS Code / Title 57 / Chapter 31 / Section 44-39
Miss. Code Ann. § 57-44-39
Status: in_force

Sections 57-44-11 through 57-44-39 shall be deemed to be full and complete authority for the exercise of the powers herein granted, but this chapter shall not be deemed to repeal or to be in derogation of any existing law of this state.
Miss. Code Ann. § 57-32-9 — MS Code / Title 57 / Chapter 5 / Section 32-9
Miss. Code Ann. § 57-32-9
Status: in_force

Any county electing to designate a specific portion of the levy authorized by this chapter to industrial development within such county may also pledge to continue to levy an assessment, not in excess of three-fourths ( 3 / 4 ) mill, against all of the assessed property in said county for a period of time no longer than twenty (20) years, in order to further secure any indebtedness of the council incurred pursuant to the granted authority under Section 57-32-5 . Once the board of supervisors of any county has so pledged to levy such millage, not in excess of three-fourths ( 3 / 4 ) mill, the county shall be obligated to continue such levy until the indebtedness of the council for which the levy was pledged under the authority of this chapter has been paid in full, but in no case shall such levy continue in force longer than twenty (20) years. No county shall be obligated to continue any levy to pay off any indebtedness of the council the board of supervisors of such county, by appropriate order, shall have approved the borrowing of such money by the council for a specific purpose and shall have pledged to levy such assessment, not in excess of three-fourths ( 3 / 4 ) mill, for such specific indebtedness of the council.
Miss. Code Ann. § 57-123-11 — MS Code / Title 57 / Chapter 64 / Section 123-11
Miss. Code Ann. § 57-123-11
Status: in_force

(1) The Department of Finance and Administration shall establish a program for the purpose of providing funds to Mississippi Main Street Association as provided in this section. Monies disbursed by the Department of Finance and Administration under this section shall be disbursed in compliance with all requirements and/or conditions on funds appropriated from the Coronavirus State Fiscal Recovery Fund for the program established under this section.

(a) For the first round of grants, the Department of Finance and Administration shall disburse funds under this section to Mississippi Main Street Association to be used for the purpose of making revitalization grants to Mississippi communities as follows:

2020

Number of

Grant

Total

population

communities

amount

grants

More than 25,000

8

$ 125,000.00

$ 1,000,000.00

Not more than 25,000

40

$ 100,000.00

$ 4,000,000.00

Total

$5,000,000.00

(b) For the second round of grants, the Department of Finance and Administration shall disburse funds under this section to Mississippi Main Street Association to be used for the purpose of making revitalization grants to Mississippi communities as follows:

2020

Number of

Grant

Total

Population

Communities

Amount

Grants

More than 25,000

8

$ 68,000.00

$ 544,000.00

Not more than 25,000

40

$ 61,400.00

$ 2,456,000.00

Total

$ 3,000,000.00

(2) The Department of Finance and Administration shall have all powers necessary for the implementation of this section.
Miss. Code Ann. § 57-61-44 — MS Code / Title 57 / Chapter 47 / Section 61-44
Miss. Code Ann. § 57-61-44
Status: in_force

Notwithstanding any provision of this chapter to the contrary, the Department of Economic and Community Development may deposit not more than Seven Hundred Fifty Thousand Dollars ($ 750,000.00) out of the proceeds of bonds issued in this chapter into the revolving fund created in Section 43-3-103, Mississippi Code of 1972 , for use by the Mississippi Industries for the Blind.
Miss. Code Ann. § 57-49-9 — MS Code / Title 57 / Chapter 3 / Section 49-9
Miss. Code Ann. § 57-49-9
Status: in_force

The responsibilities and duties of the council shall include, but not be limited to, the following:

(a) To recommend state nuclear waste policy to the board and advise the board on any matters relating to state nuclear waste policy, including matters to be addressed in memorandums of understanding and other agreements with the federal department of energy.

(b) To recommend legislative proposals related to nuclear waste for consideration by the state legislature.

(c) To review all data, plans, conclusions and other documents produced by the federal department of energy, which relate to any phase of high-level nuclear waste programs or activities.

(d) To hear and evaluate public comment and make recommendations based thereon to the board and the state legislature.

(e) To advise the board on socio-economic issues which impact on affected areas as a result of activities proposed or conducted under the authority of this chapter.

(f) To critically review and comment on any socio-economic impact statements, studies, or lack of such, and transportation risks and concerns.
Miss. Code Ann. § 57-3-23 — MS Code / Title 57 / Chapter 3 / Section 3-23
Miss. Code Ann. § 57-3-23
Status: in_force

Prior to the leasing of any project, the governing body must determine and find the following: the amount necessary in each year to pay the principal of and the interest on the bonds proposed to be issued to finance such project; the amount necessary to be paid each year into any reserve funds, which amounts may include deposits in escrow or reserve amounts as advance sums for the payment of insurance, which the governing body may deem it advisable to establish in connection with the retirement of the proposed bonds and the maintenance of the project; and, unless the terms under which the project is to be leased provide that the lessee shall maintain the project and carry all proper insurance with respect thereto, the estimated cost of maintaining the project in good repair and keeping it properly insured. The determinations and findings of the governing body required to be made in the preceding sentence shall be set forth in the proceedings under which the proposed bonds are to be issued; and prior to the issuance of such bonds, the municipality shall lease the project to a lessee under an agreement conditioned upon completion of the project and providing for payment to the municipality of such rentals as, upon the basis of such determinations and findings, will be sufficient (a) to pay the principal of and interest on the bonds issued to finance the project, (b) to build up and maintain any reserve deemed by the governing body to be advisable in connection therewith, and (c) unless the agreement of lease obligated the lessee to pay for the maintenance and insurance of the project, to pay the cost of maintaining the project in good repair and keeping it properly insured. Such lease shall be made upon such other terms and conditions and for the time which may be determined by the municipality and may contain provisions authorizing the purchase of the entire project or any portion thereof by the industry or its assignee after all bonds (if any) issued thereunder have been paid in full, for such consideration and upon such terms and conditions as the municipality may determine.
Miss. Code Ann. § 57-10-437 — MS Code / Title 57 / Chapter 10 / Section 10-437
Miss. Code Ann. § 57-10-437
Status: in_force

All expenses incurred by the corporation in carrying out the provisions of Sections 57-10-401 through 57-10-445 shall be payable solely from funds provided under Sections 57-10-401 through 57-10-445 , or other funds of the corporation. Nothing in Sections 57-10-401 through 57-10-445 shall be construed to authorize the corporation to incur indebtedness or liability on behalf of or payable by the state or any other political subdivision thereof.
Miss. Code Ann. § 57-32-1 — MS Code / Title 57 / Chapter 9 / Section 32-1
Miss. Code Ann. § 57-32-1
Status: in_force

Any county having two (2) judicial districts and a population of fifty-six thousand, three hundred fifty-seven (56,357) according to the 1970 federal decennial census, together with any counties contiguous thereto, where the boards of supervisors of said counties, or any number of them, shall find and determine that the public convenience and necessity requires the same, as evidenced by a resolution duly adopted and entered on the official minutes of said boards of supervisors, may establish a planning, economic and industrial development council to be known as the “Southeast Mississippi Industrial Council,” hereinafter called the “council.” Said council shall be composed of three (3) resident citizens of each county participating in said council, who shall be qualified electors therein, appointed by the board of supervisors of each such county for terms of four (4) years, except as herein provided. Upon creation of said council, one (1) member shall be appointed from each county for a term of one (1) year; one (1) member shall be appointed from each county for a term of two (2) years; one (1) member shall be appointed from each county for a term of three (3) years. Any county becoming a participating member of the council after its creation shall appoint members in the same manner as set forth above. Each succeeding appointment to such council shall be for a term of four (4) years or until a successor is appointed and qualified.
Miss. Code Ann. § 57-32-13 — MS Code / Title 57 / Chapter 30 / Section 32-13
Miss. Code Ann. § 57-32-13
Status: in_force

All funds secured and expended under the provisions of this chapter shall be public funds and the auditor of public accounts of the State of Mississippi shall audit the same as other public funds are now audited.
Miss. Code Ann. § 57-13-22 — MS Code / Title 57 / Chapter 7 / Section 13-22
Miss. Code Ann. § 57-13-22
Status: in_force

(1) The Mississippi Research and Development Center is hereby abolished from and after July 1, 1988. All of the functions of the center shall be transferred on that date to the Mississippi Department of Economic Development or to the University Research Center which is created in Section 37-141-3 .

(2)(a) From and after July 1, 1988, the duties and responsibilities of the Research and Development Center which are depicted organizationally in the 1989 fiscal year budget request of the Research and Development Center and which are performed by the Forecast and Analysis Division, the Administration Division, the Government Services Division and the Data Services Division except as provided in subsection 3(b) shall be transferred to the University Research Center.

(b) From and after July 1, 1988, the duties and responsibilities of the Research and Development Center not included in the transfer described in paragraph (a) except as provided in subsection (3)(c) of this section shall be transferred to the Mississippi Department of Economic Development.

(3)(a) All personnel of the Mississippi Research and Development Center shall be transferred to the Department of Economic Development or to the University Research Center according to the transfer of their duties pursuant to this section.

(b) It is specifically provided that the positions identified in items (i), (ii) and (iii) below be transferred to the Department of Economic Development unless the Director of the Research and Development Center and the Executive Director of the Department of Economic Development make mutually agreeable substitutions:

(i) Position identification numbers 60, 174, 244, 98 and 177 of the Administration Unit shall be transferred June 1, 1988.

(ii) Position identification numbers 156, 27, 194, 23, 307 and 308 of the Data Services Unit shall be transferred July 1, 1988.

(iii) Position identification numbers 71, 104 and 148 of the Government Services Division shall be transferred July 1, 1988.

(c) It is specifically provided that position identification numbers 30 and 76 of the Office of the Director of the Research and Development Center be transferred to the University Research Center on July 1, 1988.

(d) It is the intention of the Legislature that there be a reduction in personnel where there is a duplication of effort as a result of the transfers required by this subsection. The Department of Economic Development in its reorganization pursuant to Chapter 518, Laws of 1988 may utilize savings realized from personnel attrition and other economies to reallocate and reclassify positions within the department, subject to the approval of the State Personnel Board.

(e) All personnel transferred to the University Research Center shall become subject to all personnel and compensation policies of the Board of Trustees of State Institutions of Higher Learning; however, anyone so transferred shall retain all of the protection and benefits to which they have been entitled under the state personnel system.

(4) All records, property, unexpended balances of appropriations or other funds, and all other resources of the Mississippi Research and Development Center shall be transferred to the Department of Economic Development or to the University Research Center, as appropriate, pursuant to the transfer of duties and responsibilities in subsection (2) of this section.

(5)(a) Each officer or agency subject to the provisions of Chapter 518, Laws of 1988 shall assist with the fullest degree of reasonable cooperation any other officer or agency in carrying out the intent and purpose of Chapter 518, Laws of 1988.

(b) Each officer or agency subject to the provisions of Chapter 518, Laws of 1988 is hereby authorized and empowered to promulgate all necessary rules and regulations not in conflict with Chapter 518, Laws of 1988 necessary to accomplish an orderly transition pursuant to Chapter 518, Laws of 1988.
Miss. Code Ann. § 57-61-37 — MS Code / Title 57 / Chapter 46 / Section 61-37
Miss. Code Ann. § 57-61-37
Status: in_force

(1) Each municipality is hereby authorized and empowered to borrow money from the board pursuant to the terms and provisions of this chapter. Each municipality is further authorized and empowered to pay to the board such fees and charges for services hereunder as the board may prescribe.

(2) Each municipality is hereby authorized to evidence the borrowing of money from the board pursuant to this chapter by the issuance of evidences of indebtedness under the provisions of this section and to sell such evidences of indebtedness to the board to raise money for any purpose or purposes for which the board is authorized to loan money to such municipality under the terms of this chapter. Except as specifically provided in this chapter, such evidences of indebtedness shall be issued in accordance with the provisions of Sections 21-33-307, 21-33-309, 21-33-311, 21-33-313, 21-33-315, 21-33-317, 21-33-319, 21-33-321 and 21-33-323 in the case of cities or incorporated towns, and in accordance with the provisions of Sections 19-9-7, 19-9-9, 19-9-11, 19-9-13, 19-9-15, 19-9-17, 19-9-19, 19-9-21, 19-9-23, 19-9-25 and 19-9-29 in the case of counties. Bonds or other evidences of indebtedness which are issued either pursuant to this chapter, or pursuant to any other law as evidence of loans made pursuant to this chapter, shall not be deemed indebtedness within the meaning specified in Section 21-33-303 with regard to cities or incorporated towns, and in Section 19-9-5 with regard to counties. The preceding sentence shall apply to all such bonds and evidences of indebtedness outstanding as of the effective date of this provision and to all such bonds and evidences of indebtedness hereafter issued.

(3) In connection with the issuance of evidences of indebtedness under the provisions of this chapter by cities, incorporated towns and counties, the following provisions shall specifically apply:

(a) When publishing notice of intent to issue bonds as required under the terms of Section 21-33-307 or Section 19-9-11 , as the case may be, the municipality shall publish such notice once a week for three (3) consecutive weeks, the first publication to be not less than twenty-one (21) days prior to the date set for authorizing such issuance and the last publication to be not more than seven (7) days prior to such date.

(b) Such evidences of indebtedness shall be secured: (i) by the revenues derived by the municipality from the ownership, operation or lease of the project or improvements funded with proceeds of the loan from the board to such municipality under the terms of this chapter or by loan repayments from the private company derived by the municipality from the loan to the private company of the proceeds of the loan from the board to such municipality under the terms of this chapter, but only to the extent, in whole or in part, pledged by the municipality, which pledge may be on a basis subordinate to other obligations or agreements of the municipality; (ii) by the sources of repayment provided for under the terms of subsections (7) and (8) of Section 57-61-15 of this chapter; (iii) and as provided by Chapter 33, Title 21, Mississippi Code of 1972 , in the case of cities and incorporated towns, and Chapter 9, Title 19, Mississippi Code of 1972 , in the case of counties but only in the event that the sources provided by items (i) and (ii) hereof are insufficient therefor. For the purposes of Section 27-39-321 , the evidences of indebtedness issued hereunder shall be deemed to be “general obligation bonds.”

(c) Such evidences of indebtedness may be sold only to the board at private sale and may be sold at such price or prices, in such manner and at such times as may be agreed to by the municipality and the board, and the municipality may pay all expenses, premiums, fees and commissions which it may deem necessary and advantageous in connection with the issuance and sale thereof and such evidences of indebtedness shall mature at such time or times not exceeding thirty (30) years and in such amounts and shall bear interest at such rate or rates as required for loans made under the provisions of this chapter and as may be agreed upon by the board and the municipality; provided, that in connection with financing a Navy home port, the municipality may obtain a letter of credit and pledge to the repayment thereof the same sources pledged to such evidences of indebtedness or negotiate and enter into a credit agreement, trust indenture or other agreement with any bank, trust company or other lending institution for the purpose of making or receiving any payments required to be made to the United States Navy to accommodate a Navy home port.

(d) The proceeds of such evidences of indebtedness shall be applied to the following: (i) the purpose for which such evidences of indebtedness were issued; (ii) the payment of all costs of issuance of such evidences of indebtedness; (iii) the payment of any fees and charges established by the board; (iv) the payment of interest on such evidences of indebtedness for a period of time not greater than the period of time estimated to be required to complete the purpose for which the evidences of indebtedness were issued or to the extent provided by resolution of the municipality and approved by the board; (v) the payment of any costs relating to obtaining or entering into a credit agreement, loan disbursement agreement, trust indenture or other agreement with any bank, trust company or other lending institution for the purpose of securing, making or receiving any payments required to be made to the United States Navy to accommodate a Navy home port.

(e) Evidences of indebtedness issued under this section may be validated in the manner and with the force and effect provided in Section 31-13-1 et seq.

(f) This section shall be deemed to provide an additional, alternate and complete method for the doing of the things authorized hereby and shall be deemed and construed to be supplemental to any provisions of any other laws and not in derogation of any such provisions. In connection with the issuance of evidences of indebtedness, a municipality shall not be required to comply with the provisions of any other law except as provided herein.
Miss. Code Ann. § 57-61-11 — MS Code / Title 57 / Chapter 29 / Section 61-11
Miss. Code Ann. § 57-61-11
Status: in_force

The Mississippi Development Authority shall establish such guidelines, rules and regulations for the repayment of funds loaned pursuant to this chapter as may be necessary. These provisions shall include, but not be limited to, the following:

(a) Funds may be loaned for a maximum of ten (10) years or the estimated useful life of the property as established by the United States Department of Treasury, whichever is greater.

(b) The rate of interest charged by the Mississippi Development Authority for improvements not on publicly owned property may be negotiated by the Mississippi Development Authority.

(c) For all improvements funded through this chapter which occur on publicly owned property, repayment of funds loaned may, in the discretion of the Mississippi Development Authority, involve only the principal amount loaned with no interest charged thereon.

(d) An audit by a certified public accountant of all costs of a project hereunder must be submitted to the Mississippi Development Authority not later than ninety (90) days after a project's completion. Such an audit shall certify that all of the funds loaned or granted pursuant to this chapter were disbursed in accordance with the terms of this chapter and shall be paid for by the private company benefited by the project. In addition to the audit required under this paragraph, the State Auditor may conduct performance and compliance audits under this chapter according to Section 7-7-211(o) and may bill the oversight agency.

(e) Notwithstanding the foregoing, in the case of an application under Section 57-61-9(5)(a) , the guidelines shall include, but not be limited to, the following:

(i) Funds may be loaned for a maximum of twenty (20) years, or the estimated useful life of improvements on the land areas of the port, whichever is greater.

(ii) The rate of interest charged by the Mississippi Development Authority for loans for port projects may be negotiated by the Mississippi Development Authority and shall be consistent with Section 57-61-11(b) and (c) .

(iii) The total of grants and loans to any one (1) state-owned port made pursuant to an application under Section 57-61-9(5)(a) shall not exceed Twenty Million Dollars ($ 20,000,000.00).

(iv) Before any loan or grant may be made under Section 57-61-9(5)(a) to a state-owned port bordering the Gulf of Mexico, the applicant shall make adequate assurance to the Mississippi Development Authority that federal participation in the cost of the project or projects has been committed contingent only upon availability of local participation in accordance with federal guidelines.

(v) Notwithstanding any provision of this chapter to the contrary, the Mississippi Development Authority shall utilize not more than Four Million Dollars ($ 4,000,000.00) out of the proceeds of bonds authorized to be issued in this chapter to be made available as interest-bearing loans to state-owned ports for the purpose of repairing, renovating, maintaining and improving the state-owned port. The Mississippi Development Authority shall establish an amortization schedule for the repayment of any loans made pursuant to this subparagraph. The state-owned port shall not spend any revenues for other purposes unless payments on the loan are being timely made according to the amortization schedule. The match requirements of this section and Section 57-61-9 shall not apply to any loan made pursuant to this subparagraph.

(f) Notwithstanding any provision of this chapter to the contrary, the Mississippi Development Authority shall utilize not more than Three Million Dollars ($ 3,000,000.00) out of the proceeds of bonds authorized to be issued in this chapter for the purpose of making loans to municipalities operating county-owned ports or municipally owned ports for the purpose of acquiring land, buildings and other improvements and for repairing, renovating, maintaining and improving such ports. The Mississippi Development Authority shall establish an amortization schedule for the repayment of any loans made pursuant to this paragraph (f). A municipality shall not spend any port revenues for other purposes unless payments on the loan are being timely made according to the amortization schedule.
Miss. Code Ann. § 57-41-9 — MS Code / Title 57 / Chapter 7 / Section 41-9
Miss. Code Ann. § 57-41-9
Status: in_force

All notes issued by a municipality under authority of this chapter shall be limited obligations of the municipality, the principal of, redemption premium, if any, and interest on which shall be payable solely from revenues received by the municipality pursuant to the loan agreement or pursuant to notes and deeds of trust delivered to the municipality and from such other funds as may be made available to the municipality for such purpose by the terms of the trust agreement. Notes issued under authority of this chapter shall never constitute an indebtedness of the municipality within the meaning of any state constitutional provision or statutory limitation, and shall never constitute nor give rise to a pecuniary liability of the municipality or a charge against its general credit or taxing powers, and such fact shall be plainly stated on the face of each such note. The notes shall not be considered when computing any limitation of indebtedness of the municipality established by law. All notes issued under the authority of this chapter shall be construed to be negotiable instruments, despite the fact that they are payable solely from a specified source.
Miss. Code Ann. § 57-99-23 — MS Code / Title 57 / Chapter 75 / Section 99-23
Miss. Code Ann. § 57-99-23
Status: in_force

(1) Except as otherwise provided in this section, a qualified business or industry that meets the qualifications specified in Sections 57-99-21 through 57-99-29 may receive quarterly incentive payments for a period not to exceed ten (10) years from the State Tax Commission pursuant to the provisions of Sections 57-99-21 through 57-99-29 in an amount which shall be equal to the lesser of one percent (1%) of the wages and taxable benefits for qualified jobs or the actual amount of Mississippi income tax withheld by the employer for the qualified jobs.

(2) In order to receive incentive payments, an establishment shall apply to the MDA by not later than July 1, 2010. The application shall be on a form prescribed by the MDA and shall contain such information as may be required by the MDA to determine if the applicant is qualified.

(3) In order to qualify to receive such payments, the establishment applying shall be required to:

(a) Be engaged in a qualified business or industry; and

(b) The business or industry must maintain a minimum of one thousand two hundred (1,200) qualified jobs.

(4) Upon approval of such an application, the MDA shall notify the State Tax Commission and shall provide it with a copy of the approved application. The State Tax Commission may require the qualified business or industry to submit such additional information as may be necessary to administer the provisions of Sections 57-99-21 through 57-99-29 . The qualified business or industry shall report to the State Tax Commission periodically to show its continued eligibility for incentive payments. The qualified business or industry may be audited by the State Tax Commission to verify such eligibility.
Miss. Code Ann. § 57-32-13 — MS Code / Title 57 / Chapter 9 / Section 32-13
Miss. Code Ann. § 57-32-13
Status: in_force

All funds secured and expended under the provisions of this chapter shall be public funds and the auditor of public accounts of the State of Mississippi shall audit the same as other public funds are now audited.
Miss. Code Ann. § 57-10-529 — MS Code / Title 57 / Chapter 3 / Section 10-529
Miss. Code Ann. § 57-10-529
Status: in_force

(1) Pending the issuance of bonds of the state as authorized under this article, the seller is hereby authorized in accordance with the provisions of this article and on the credit of the state, to make temporary borrowings not to exceed two (2) years in anticipation of the issue of bonds in order to provide funds in such amounts as may, from time to time, be deemed advisable prior to the issue of bonds. In order to provide for and in connection with such temporary borrowings, the seller is hereby authorized in the name and on behalf of the state to enter into any purchase, loan or credit agreement, or agreements, or other agreement or agreements with any financial institution or persons in the United States having power to enter into the same, which agreements may contain such provisions not inconsistent with the provisions of this article as may be authorized by the seller.

(2) All temporary borrowings made under this section shall be evidenced by notes of the state which shall be issued, from time to time, for such amounts not exceeding in the aggregate the applicable statutory and constitutional debt limitation, in such form and in such denominations and subject to terms and conditions of sale and issue, prepayment or redemption and maturity, rate or rates of sale and time of payment of interest as the seller shall authorize and direct and in accordance with this article. Such authorization and direction may provide for the subsequent issuance of replacement notes to refund, upon issuance thereof, such notes, and may specify such other terms and conditions with respect to the notes and replacement notes thereby authorized for issuance as the seller may determine and direct.

(3) When the authorization and direction of the seller provide for the issuance of replacement notes, the seller is hereby authorized in the name and on behalf of the state to enter into agreements with any financial institutions or persons in the United States having the power to enter into the same:

(a) To purchase or underwrite an issue or series of issues of notes.

(b) To enter into any purchase, loan or credit agreements, and to draw monies pursuant to any such agreements on the terms and conditions set forth therein and to issue notes as evidence of borrowings made under any such agreements.

(c) To appoint or act as issuing and paying agent or agents with respect to notes.

(d) To do such other acts as may be necessary or appropriate to provide for the payment, when due, of the principal of and interest on such notes.

Such agreements may provide for the compensation of any purchasers or underwriters of notes or replacement notes by payment of a fixed fee or commission at the time of issuance thereof, and for all other costs and expenses, including fees for agreements related to the notes issuing and paying agent costs. Costs and expenses of issuance may be paid from the proceeds of the notes.

(4) When the authorization and direction of the seller provides for the issuance of replacement notes, it shall, at or prior to the time of delivery of these notes or replacement notes, determine the principal amounts, dates of issue, interest rate or rates, rates of discount, denominations and all other terms and conditions relating to the issuance. The State Treasurer shall perform all acts and things necessary to pay or cause to be paid, when due, all principal of and interest on the notes being refunded by replacement notes and to assure that the same may draw upon any monies available for that purpose pursuant to any purchase loan or credit agreements established with respect thereto, all subject to the authorization and direction of the seller.

(5) Outstanding notes evidencing such borrowings may be funded and retired by the issuance and sale of the bonds of the state as hereinafter authorized. The refunding bonds must be issued and sold not later than a date two (2) years after the date of issuance of the first notes evidencing such borrowings to the extent that payment of such notes has not otherwise been made or provided for by sources other than proceeds of replacement notes.

(6) The proceeds of all such temporary borrowing shall be paid to the State Treasurer to be held and disposed of in accordance with the provisions of Section 57-10-521 .
Miss. Code Ann. § 57-31-31 — MS Code / Title 57 / Chapter 18 / Section 31-31
Miss. Code Ann. § 57-31-31
Status: in_force

The authority, in addition to the moneys which may be received by it from the sale of revenue bonds and from the collection of revenues, rents, and earnings derived under the provisions of this chapter, shall have the authority to accept from any public or private agency, or from any individual, grants for or in aid of the construction of any project, or for the payment of bonds, and to receive and accept contributions from any source, of money or property or other things of value to be held, used and applied only for the purposes for which such grants or contributions may be made.
Miss. Code Ann. § 57-1-701 — MS Code / Title 57 / Chapter 1 / Section 1-701
Miss. Code Ann. § 57-1-701
Status: in_force

(1) For the purposes of this section, the following words and phrases shall have the meanings ascribed in this subsection unless the context clearly indicates otherwise:

(a) “ Eligible entity ” means any (i) county, (ii) municipality or (iii) public or private nonprofit local economic development entity including, but not limited to, local authorities, commissions, or other entities created by local and private legislation or pursuant to Section 19-5-99 .

(b) “ Optioned property ” means industrial property that is subject to a real estate option to purchase contract entered into between an eligible entity and a real estate owner, where such option shall be for a minimum of three (3) years and the option price shall not exceed the appraised fair market value of the real estate.

(c) “ Eligible expenditures ” means:

(i) Fees for architects, engineers, environmental consultants, attorneys, and such other advisors, consultants and agents that MDA determines are necessary to complete site due diligence associated with site development improvements located on industrial property that is publicly owned or is optioned property;

(ii) Contributions toward site development improvements, as approved by MDA, located on industrial property that is publicly owned;

(iii) Contributions toward public infrastructure improvements directly serving industrial property that is publicly owned or is optioned property; and/or

(iv) Contributions toward acquisition of publicly owned real property used for economic development purposes by an eligible entity, where the acquisition price shall not exceed the appraised fair market value of the property.

(d) “ MDA ” means the Mississippi Development Authority.

(e) “ Site development improvements ” means site clearing, grading, and environmental mitigation; improvements to drainage systems; easement and right-of-way acquisition; sewer systems; transportation directly affecting the site, including roads, bridges or rail; bulkheads; taxiways and parking ramps; land reclamation; water supply (storage, treatment and distribution); telecommunications systems, including fiber optic; natural gas distribution systems; aesthetic improvements; the dredging of channels and basins; or other improvements as approved by MDA.

(2)(a) There is hereby created in the State Treasury a special fund to be designated as the “Mississippi Site Development Grant Fund,” which shall consist of funds made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used to make grants to assist eligible entities as provided in this section.

(b) Monies in the fund which are derived from proceeds of bonds issued under Section 2 of Chapter 390, Laws of 2017, Section 5 of Chapter 412, Laws of 2018, Section 1 of Chapter 421, Laws of 2019, Section 4 of Chapter 492, Laws of 2020, or Section 8 of Chapter 480, Laws of 2021 or provided by the Legislature, may be used to reimburse reasonable actual and necessary costs incurred by MDA for the administration of the various grant, loan and financial incentive programs administered by MDA. An accounting of actual costs incurred for which reimbursement is sought shall be maintained by MDA. Reimbursement of reasonable actual and necessary costs shall not exceed three percent (3%) of the proceeds of bonds issued or the monies provided by the Legislature. Reimbursements under this subsection shall satisfy any applicable federal tax law requirements.

(3)(a) MDA shall establish a program to make grants to eligible entities to match local or other funds associated with improving the marketability of publicly owned industrial property for industrial economic development purposes and other property improvements as approved by MDA. An eligible entity may apply to MDA for a grant under this program in the manner provided for in this section. An eligible entity desiring assistance under this section must provide matching funds in an amount determined by MDA. Matching funds may be provided in the form of cash and/or in-kind services as determined by MDA.

(b) An eligible entity desiring assistance under this section must submit an application to MDA. The application must include:

(i) A description of the eligible expenditures for which assistance is requested;

(ii) The amount of assistance requested;

(iii) The amount and type of matching funds to be provided by the eligible entity; and

(iv) Any other information required by MDA.

(c) Upon request by MDA, an eligible entity shall provide MDA with access to all studies, reports, documents and/or plans developed as a result of or related to an eligible entity receiving assistance under this section.

(4) MDA shall have all powers necessary to implement and administer the program established under this section, and the department shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.

(5) MDA shall file an annual report with the Governor, the Secretary of the Senate and the Clerk of the House of Representatives not later than December 1 of each year, describing all assistance provided under this section.
Miss. Code Ann. § 57-61-35 — MS Code / Title 57 / Chapter 31 / Section 61-35
Miss. Code Ann. § 57-61-35
Status: in_force

Except as otherwise authorized in Section 7-5-39 , the Attorney General of the State of Mississippi shall represent the seller in issuing, selling and validating bonds herein provided for, and the seller 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. § 57-32-9 — MS Code / Title 57 / Chapter 26 / Section 32-9
Miss. Code Ann. § 57-32-9
Status: in_force

Any county electing to designate a specific portion of the levy authorized by this chapter to industrial development within such county may also pledge to continue to levy an assessment, not in excess of three-fourths ( 3 / 4 ) mill, against all of the assessed property in said county for a period of time no longer than twenty (20) years, in order to further secure any indebtedness of the council incurred pursuant to the granted authority under Section 57-32-5 . Once the board of supervisors of any county has so pledged to levy such millage, not in excess of three-fourths ( 3 / 4 ) mill, the county shall be obligated to continue such levy until the indebtedness of the council for which the levy was pledged under the authority of this chapter has been paid in full, but in no case shall such levy continue in force longer than twenty (20) years. No county shall be obligated to continue any levy to pay off any indebtedness of the council the board of supervisors of such county, by appropriate order, shall have approved the borrowing of such money by the council for a specific purpose and shall have pledged to levy such assessment, not in excess of three-fourths ( 3 / 4 ) mill, for such specific indebtedness of the council.
Miss. Code Ann. § 57-10-255 — MS Code / Title 57 / Chapter 3 / Section 10-255
Miss. Code Ann. § 57-10-255
Status: in_force

(1) The company is hereby declared to be performing a public function and to be a public body corporate and a political subdivision of the state. Accordingly, the income, including any profit made on the sale thereof from all bonds issued by the company, shall at all times be exempt from all taxation by the state or any public subdivision thereof. If, after all indebtedness and other obligations of the company are discharged the company is dissolved, its remaining assets shall inure to the benefit of the state.

(2) All mortgages or deeds of trust executed as security therefor, all lease, loan or purchase agreements made pursuant to the provisions hereof, all purchases required to establish the enterprise and financed by proceeds from bonds issued pursuant to Chapter 10, Title 57, Mississippi Code of 1972 , shall likewise be exempt from all taxation in the State of Mississippi except the contractors' tax imposed by Section 27-65-21 and the taxes levied by Section 27-65-24(1)(b) , and all projects financed by the proceeds from such bonds and the revenue derived from any lease thereof shall be exempt from all taxation in the State of Mississippi, except the tax levied by Sections 27-65-21 and 27-65-24(1)(b) , and except the tax levied under Chapter 7, Title 27, Mississippi Code of 1972 . From and after July 1, 2002, there shall be no new ad valorem tax exemption authorized under this section unless approved by the appropriate local taxing authority.

(3) The time of any ad valorem tax exemption provided for hereunder shall not exceed a total of ten (10) years, which shall run from the date of the completion of the project. In no event shall the term of the ad valorem tax exemption provided for hereunder be limited, terminated or otherwise affected by payment in full of the bonds issued under this chapter or by the change from a leasehold to a fee title in the enterprise financed with bonds issued under this chapter.

(4) From and after July 1, 1990, there shall be no new exemption under this section from ad valorem taxes levied for school district purposes.
Miss. Code Ann. § 57-10-21 — MS Code / Title 57 / Chapter 7 / Section 10-21
Miss. Code Ann. § 57-10-21
Status: in_force

Any loans by the corporation to a small business investment company or minority enterprise small business investment company, shall be conditioned on the following:

(a) A loan to a small business investment company or minority enterprise small business investment company shall not exceed the amount of its outstanding portfolio investments or the amount of its private paid-in capital and paid-in surplus, whichever is less.

(b) The small business investment company or minority enterprise small business investment company must agree that the entire loan will be invested in firms located in this state.

(c) The repayment period for any such loan shall not exceed fifteen (15) years but such loans need not be amortized.

(d) Such other conditions as may be prescribed by the board of directors of the corporation.
Miss. Code Ann. § 57-71-27 — MS Code / Title 57 / Chapter 67 / Section 71-27
Miss. Code Ann. § 57-71-27
Status: in_force

(1) Whenever bonds are issued, they shall be offered for sale at not less than par value and accrued interest and shall be sold by the seller at public or private sale, from time to time, in such manner and at such price as may be determined by the seller to be most advantageous.

(2) Any portion of any bond issue so offered and not sold or subscribed for at public sale may be disposed of by private sale by the seller in such manner and at such prices not less than par and accrued interest, as the seller shall direct.

(3) When bonds are issued from time to time, the bonds of each issue shall constitute a separate series to be designated by the seller or may be combined for sale as one (1) series with other general obligation bonds of the State of Mississippi.

(4) Until permanent bonds can be prepared, the seller may in its discretion issue, in lieu of permanent bonds, temporary bonds in such form and with such privileges as to registration and exchange for permanent bonds as may be determined by the seller.

(5) Pending their application to the purposes authorized, bond proceeds held or deposited by the State Treasurer may be invested or reinvested as are other funds in the custody of the State Treasurer in the manner provided by law. All earnings received from the investment or deposit of such funds shall be paid into the State Treasury to the credit of the Mississippi Small Enterprise Development Finance Fund.

(6) The State Treasurer shall prepare the necessary registry book to be kept in the office of the duly authorized loan and transfer agent of the state for the registration of any bonds, at the request of owners thereof, according to the terms and conditions of issue directed by the seller.

(7) All costs and expenses in connection with the issue of and sale and registration of the bonds and notes in connection with this act may be paid from the proceeds of bonds and notes issued under this act.

(8) The seller may provide in the resolution authorizing the issuance of such bonds for the employment of one or more persons or firms to assist in the sale of the bonds; to enter into contracts with financial institutions located either within or without the State of Mississippi to act as registrars, paying agents, transfer agents or otherwise; for rating of the bonds; and to purchase insurance.
Miss. Code Ann. § 57-91-5 — MS Code / Title 57 / Chapter 77 / Section 91-5
Miss. Code Ann. § 57-91-5
Status: in_force

As used in this chapter, the following words and phrases shall have the meanings ascribed herein unless the context clearly indicates otherwise:

(a) “ Business enterprise ” means any permanent business enterprise locating or relocating within a redevelopment project area, including, without limitation:

(i) Industry for the manufacturing, processing, assembling, storing, warehousing, servicing, distributing or selling of any products or goods, including products of agriculture;

(ii) Enterprises for research and development, including, but not limited to, scientific laboratories;

(iii) Industry for the retail sale of goods and services;

(iv) The industry for recreation and hospitality, including, but not limited to, restaurants, hotels and sports facilities; and

(v) Such other businesses or industry as will be in furtherance of the public purposes of this chapter as determined by the MDA.

The term “business enterprise” shall not include gaming businesses, or medical cannabis establishments as defined in the Mississippi Medical Cannabis Act.

(b) “ Contaminated site ” means real property that is either (i) subject to a bankruptcy court order in which the property has been abandoned from the bankruptcy estate, or (ii) Brownfield property that is subject to a Brownfield agreement under Section 49-35-11 , and the expansion, redevelopment or reuse of which is complicated by the presence or potential presence of a hazardous substance, pollutant or contaminant.

(c) “ County ” means any county of this state.

(d) “ Developer ” means any person who assumes certain environmental liability at a contaminated site and enters into an agreement with a redevelopment county or municipality whereby the developer agrees to undertake a redevelopment project. “ Developer agreement ” means said agreement.

(e) “ Governing body ” means the board of supervisors of any county or the governing board of a municipality.

(f) “ Law ” means any act or statute, general, special or local, of this state.

(g) “ MDA ” means the Mississippi Development Authority.

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

(i) “ Municipality ” means any incorporated municipality in the state.

(j) “ Person ” means a natural person, partnership, association, corporation, business trust or other business entity.

(k) “ Redevelopment counties and municipalities ” means those counties or municipalities which meet the requirements of this chapter and which have by resolution or order designated a redevelopment project area and given its consent to participate in the program established under this chapter.

(l) “ Redevelopment project ” means a project that combines remediation of a contaminated site with the planned development of such site and surrounding land in a manner conducive to use by the public or business enterprises including the construction of recreational facilities.

(m) “ Redevelopment project area ” means the geographic area defined by resolution of the county or municipality within which the remediation and planned development will take place containing the contaminated site and additional surrounding and adjacent land and waterfront, not exceeding six hundred fifty (650) acres, suitable for development.

(n) “ Resolution ” means an order, resolution, ordinance, act, record of minutes or other appropriate enactment of a governing body.

(o) “ State taxes and fees ” means any sales tax imposed on the sales or certain purchases by a business enterprise pursuant to law within a redevelopment project area, all income tax imposed pursuant to law on income earned by the approved business enterprise within a redevelopment project area and all franchise tax imposed pursuant to law on the value of capital used, invested or employed by the approved business enterprise in a redevelopment project area.
Miss. Code Ann. § 57-55-7 — MS Code / Title 57 / Chapter 39 / Section 55-7
Miss. Code Ann. § 57-55-7
Status: in_force

(1) The board of trustees of state institutions of higher learning is hereby authorized and directed to establish a Mississippi Water Resources Research Institute, hereinafter referred to as the WRRI, at Mississippi State University under the direct supervision of the president of the university or a vice-president to be designated by the president.

(2) It shall be the function and duty of the WRRI to:

(a) Assist state agencies in the development and maintenance of a state water management plan;

(b) Consult with state and local governmental agencies, water management districts, water user associations, the legislature of the state of Mississippi, and other potential users in identifying and establishing research, planning, policy, and management priorities regarding water problems.

(c) Negotiate and administer contracts with local, regional, state and federal agencies and other universities of the state for mitigation of priority water and related problems;

(d) Report to the appropriate state agencies each year on the progress and findings of research projects;

(e) Disseminate new information and facilitate transfer and application of new technologies as they are developed;

(f) Provide for liaison between Mississippi and funding agencies as an advocate for Mississippi water research, planning, policy, and management needs; and

(g) Facilitate and stimulate planning and management that:

(i) Deals with water policy issues facing the state of Mississippi;

(ii) Supports state water agencies' missions with research on problems encountered and expected;

(iii) Provides water planning and management organizations with tools to increase efficiency and effectiveness of water planning and management.

(3) The principal administrative officer of the WRRI shall be a director, who shall be appointed by the president of Mississippi State University, with the approval of the board of trustees of state institutions of higher learning. To meet the purposes of the WRRI, the director shall develop appropriate policies and procedures (a) for identification of priority research problems; (b) for collaborating with local and state governmental agencies, water user associations, other universities, federal government agencies, and the legislature in the formulation of its research program; (c) for selection of projects to be funded; and (d) for the dissemination and transfer of information and technology produced by research.
Miss. Code Ann. § 57-44-37 — MS Code / Title 57 / Chapter 5 / Section 44-37
Miss. Code Ann. § 57-44-37
Status: in_force

The State Treasurer is authorized to certify to the Department of Finance and Administration the necessity for warrants, and the Executive Director of the Department of Finance and Administration 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 accreted value of, all bonds issued under Sections 57-44-11 through 57-44-39 ; 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 thereon, on the due dates thereof.
Miss. Code Ann. § 57-10-115 — MS Code / Title 57 / Chapter 3 / Section 10-115
Miss. Code Ann. § 57-10-115
Status: in_force

(1) On every loan, the borrower shall pay a nonrefundable guaranty fee of two percent (2%) of the guaranteed portion, to be paid at the time of disbursement of loan proceeds. Upon collection, the committee shall remit all such guaranty fees to a special fund for such fees created by the State Treasurer.

(2) No loan guaranty made by the committee shall exceed seventy-five percent (75%) of the principal of the loan.

(3) The amount of all outstanding loan guaranties shall not exceed five (5) times the combined total amount in the Small Businessman's Loan Fund, plus the guaranty fee fund and accrued interest on both funds, provided the liability of the two (2) funds shall not exceed Fifteen Million Seven Hundred Fifty Thousand Dollars ($ 15,750,000.00).

(4) No guaranty made under the provisions of this article shall be an amount exceeding Three Hundred Seventy-five Thousand Dollars ($ 375,000.00) principal, and the term thereof shall not exceed twenty (20) years.

(5) More than one (1) loan may be outstanding to any one (1) borrower at any one (1) time; provided, however, that the aggregate amount of all loan guaranties to any one (1) borrower shall not exceed Three Hundred Seventy-five Thousand Dollars ($ 375,000.00).

(6) The total amount of a loan secured by any real and/or personal property, including any previous indebtedness incurred against real and/or personal property offered as security for such loan, shall not exceed ninety percent (90%) of the market value as determined by an appraisal made by the lender. In determining the amount of indebtedness to be incurred against any real or personal property securing such a loan, the lender may consider the enhanced value of the real property and any other additional capital assets accruing to the borrower through loans provided under this article.
Miss. Code Ann. § 57-79-5 — MS Code / Title 57 / Chapter 78 / Section 79-5
Miss. Code Ann. § 57-79-5
Status: in_force

For the purposes of this chapter, the following terms shall have the meanings ascribed herein unless the context shall otherwise require:

(a) “Small town” shall mean any city, town or village with a population of five thousand (5,000) or fewer persons according to the most recent federal decennial census.

(b) “Mississippi Small Town Development Fund” shall mean that fund administered by the Mississippi Department of Economic and Community Development to assist small towns for purposes authorized under this chapter.

(c) “Grant application development expenses” shall mean any preliminary study, survey, investigation, or report including engineering analysis or cost estimates, or other professional services required to submit a grant or loan application to any state or federal agency or department.

(d) “Grant application matching requirement” means any state or federal grant or loan requirement for the contribution of cash or other in-kind services as a part of any such grant or loan application.

(e) “Mississippi Small Town Technical Assistance Network” shall be that program administered by the Mississippi Department of Economic and Community Development organized to provide both direct, individual technical assistance to small towns, and to maximize the efforts of other state and federal departments and agencies, as well as private not-for-profit organizations.
Miss. Code Ann. § 57-33-3 — MS Code / Title 57 / Chapter 26 / Section 33-3
Miss. Code Ann. § 57-33-3
Status: in_force

No section, article or provision contained herein shall be construed so as to prohibit, restrict or restrain the action of any individual member state, or the action of any county or municipal government within the boundaries of any individual member state, nor shall any delegate from the State of Mississippi be authorized by this legislature to cast any vote that would in any manner restrict the sovereign rights presently granted to or retained by this state under the United States Constitution or the rights of any local governments granted by the Constitution of the State of Mississippi or by statutory acts of the legislature.
Miss. Code Ann. § 57-10-159 — MS Code / Title 57 / Chapter 1 / Section 10-159
Miss. Code Ann. § 57-10-159
Status: in_force

There is hereby created the Small Business Consortium Board which shall be the policymaking body for the state's program of services to nonagricultural small businesses. The consortium board will be composed of the following seven (7) members: The Executive Director of the Department of Economic and Community Development; the Director of the University Research Center; the Director of the Department of Finance and Administration; the Director of the Enterprise Development Division of the Department of Economic and Community Development; the president of a public junior college appointed by the Mississippi Junior College Association; the President of the Certified Development Company of Mississippi, Inc.; and the District Director of the Small Business Administration.

Members of the consortium board shall receive no compensation for their services as members of the board. All consortium board members who are employees of the state or any entity thereof may receive reimbursement for actual and necessary traveling and subsistence expenses incurred, such reimbursement to be in the manner provided for in Section 25-3-41 .

A majority of the consortium board shall constitute a quorum, but less than a quorum may adjourn the meeting from time to time. The consortium board shall hold its meetings on at least a semiannual basis by call of the coordinator or a majority of the consortium board, and such meetings may be held at any place within the State of Mississippi acceptable to a majority of the board.
Miss. Code Ann. § 57-99-3 — MS Code / Title 57 / Chapter 73 / Section 99-3
Miss. Code Ann. § 57-99-3
Status: in_force

(1) Except as otherwise provided in this section, a qualified business or industry that meets the qualifications specified in Sections 57-99-1 through 57-99-9 may receive quarterly incentive payments for a period not to exceed twenty-five (25) years from the Department of Revenue pursuant to the provisions of Sections 57-99-1 through 57-99-9 in an amount which shall be equal to the lesser of three and one-half percent (3- 1 / 2 %) of the wages and taxable benefits for qualified jobs or the actual amount of Mississippi income tax withheld by the employer for the qualified jobs. A qualified business or industry may elect the date upon which the incentive rebate period will begin. Such date may not be later than sixty (60) months after the date the business or industry applied for incentive payments; however, in the case of a qualified business or industry described in Section 57-99-1(a)(ii) , such date may not be later than seventy-two (72) months after the date the business or industry applied for incentive payments, or for a qualified business or industry described in Section 57-99-1(a)(iv) , such date may not be later than the date that is sixty (60) months after the earlier of:

(a) The date the qualified business or industry applied for incentive payments; or

(b) The start of commercial production as defined in a definitive agreement between such qualified business or industry and the MDA.

(2) In order to receive incentive payments, an establishment shall apply to the MDA. The application shall be on a form prescribed by the MDA and shall contain such information as may be required by the MDA to determine if the applicant is qualified.

(3) In order to qualify to receive such payments, the establishment applying shall be required to:

(a) Be engaged in a qualified business or industry; and

(b) The business or industry must create and maintain the minimum number of qualified jobs as set forth in Section 57-99-1 . Establishments that are approved as a qualified business or industry under Sections 57-99-1 through 57-99-9 may not receive incentive payments under Section 57-62-1 et seq.

(4) Upon approval of such an application, the MDA shall notify the Department of Revenue and shall provide it with a copy of the approved application. The Department of Revenue may require the qualified business or industry to submit such additional information as may be necessary to administer the provisions of Sections 57-99-1 through 57-99-9 . The qualified business or industry shall report to the Department of Revenue periodically to show its continued eligibility for incentive payments. The qualified business or industry may be audited by the Department of Revenue to verify such eligibility.

(5) Notwithstanding any other provision of Sections 57-99-1 through 57-99-9 to the contrary, from and after January 1, 2023, if the amount of the incentive payments that a qualified business or industry is eligible to receive under Sections 57-99-1 through 57-99-9 is less than the amount that the incentive payments would have been if the payments had been calculated using any applicable income tax rates in Section 27-7-5 that were in effect before January 1, 2023, then the qualified business or industry also shall receive a grant equal to the difference between such two (2) amounts. Further, the term “incentive payment,” as such term is used in Sections 57-99-1 through 57-99-9 , shall be deemed to not refer to or otherwise include any grant payment payable to a qualified business or industry pursuant to this subsection.
Miss. Code Ann. § 57-32-5 — MS Code / Title 57 / Chapter 21 / Section 32-5
Miss. Code Ann. § 57-32-5
Status: in_force

(1) The council may do anything within its power, not inconsistent with this chapter, to secure and further industrial and economic development of said counties, to advertise the natural resources and possibilities of the same, and to maintain and support the same.

(2) The council is hereby expressly authorized and empowered to acquire by gift, purchase or otherwise, and to own, hold, maintain, control and develop real estate situated within the participating counties, either within or without the corporate limits of a municipality, for development, use and operation of one or more industrial park complexes referred to herein as “project”; and is further authorized and empowered to engage in works of internal improvement therefor, including, but not limited to, construction or contracting for the construction of railroad spur tracks, site improvements, water, sewerage, drainage, pollution control and other related facilities necessary or required for industrial use and development of said park complexes; and to acquire, purchase, install, lease, construct, own, hold, equip, control, maintain, use, operate and repair other structures and facilities necessary and convenient for the planning, development, use, operation and maintenance of said parks for industrial purposes, including, but not limited to, utility installations, except those communications and electric power utilities already certificated in the area by the Mississippi Public Service Commission, elevators, compressors, warehouses, and air, rail and other transportation terminals and pollution control facilities. For the development of such projects, the council, in its own name, is authorized and empowered to borrow money and contract for the borrowing of money, from time to time, as it may deem appropriate, and to pay interest upon such borrowed funds in such amount as it may negotiate, however, not exceeding such amount of interest as may be allowed to be paid under the provisions of Section 19-9-19 , and to give as security for the payment of such indebtednesses deeds of trust or mortgages on all or any part of the real estate purchased, improved or benefited by the funds so borrowed. The council may, likewise, pledge the proceeds and revenues from any such project for the repayment of funds so borrowed. The pledge of any real estate or income from real estate held by the council shall be done only by order spread upon the minutes of said council after the affirmative vote of not less than two-thirds ( 2 / 3 ) of the members of the council. There shall be no personal liability of any member of said council for failure in the repayment of funds so borrowed.

(3) The council is authorized and empowered to sell, lease, trade, exchange or otherwise dispose of industrial sites situated within any of such projects to individuals, firms or corporations, public or private, for industrial and warehouse use upon such terms and conditions, for such consideration, and with such safeguards as will best promote and protect the public interest, convenience and necessity, and to execute deeds, leases, contracts, easements and other legal instruments necessary or convenient therefor. The council is granted the power to sue and be sued in its own name.

(4) Any industrial lease may be executed upon such terms and conditions and for such monetary rental or other consideration as may be found to be in the best interest of the public by the council by order or resolution spread upon its minutes authorizing the same. Any covenants and obligations of the lessee to make expenditures in determined amounts, and within such time or times, for improvements to be erected on the land by such lessee and to conduct thereon industrial or warehouse operations in such aggregate payroll amounts and for such period of time or times as may be determined and defined in such lease, and to give preference in employment where practicable to qualified residents of the counties constituting the council may, when included in such lease, constitute and be deemed sufficient consideration for the execution of any such lease in the absence of a monetary rental or other considerations, if found by the council and the board of supervisors of the affected county to be sufficient consideration and in the best interest of the public; any such instrument may contain reasonable provisions giving the lessee the right to remove its or his improvements upon termination of the lease.

(5) The council is authorized and empowered to fix and prescribe fees, charges and rates for the use of any water, sewerage, pollution control or other facilities constructed and operated in connection with said industrial parks and to collect the same from persons, firms and corporations using the same for industrial, warehouse and related purposes.

(6) Upon organization, the council is authorized and empowered to employ engineers, attorneys, accountants, technicians and consultants upon a fee or retainer basis, and such executive and administrative personnel and other employees as shall be reasonably necessary to carry out the duties and authority authorized by this chapter, and to determine their qualifications and duties and to establish compensation and other employment benefits as may be advisable to attract and retain proficient personnel. The council, in addition to all other authority, is authorized and empowered to purchase, sell and trade office equipment, to purchase necessary supplies, to purchase such equipment and vehicles as the council deems necessary for the economic and industrial development of the member counties and to carry out the purposes of this chapter.

(7) The enumeration of any specific rights and powers contained herein, and elsewhere in this chapter, where followed by general powers, shall not be construed in a restrictive sense, but rather in as broad and comprehensive a sense as possible to effectuate the purposes of this chapter.
Miss. Code Ann. § 57-91-7 — MS Code / Title 57 / Chapter 78 / Section 91-7
Miss. Code Ann. § 57-91-7
Status: in_force

(1) From and after January 1, 2005, any counties or municipalities meeting the following conditions may apply to the MDA for the issuance of a certificate of public convenience and necessity:

(a) There is located within such county or municipality a contaminated site;

(b) There has been established by resolution of the county or municipality a redevelopment project area;

(c) There is submitted to the MDA application for designation as a redevelopment county or municipality which, at minimum, contains (i) MDEQ concurrence of the existence of a contaminated site and concurrence and involvement in the assessment and remediation plan, (ii) a resolution of the county or municipality setting forth the boundaries of the redevelopment project area and consenting to the designation of the county or municipality as a redevelopment county or municipality, and (iii) a developer agreement.

(2) If a proposed redevelopment project area falls wholly within the municipality, only the municipality must apply to the MDA for designation as a redevelopment municipality. If a proposed redevelopment project area falls wholly within the county and outside the boundaries of a municipality, only the county may apply to the MDA for designation as a redevelopment county. If a proposed redevelopment project area falls partly within and partly without a municipality, then both the county and municipality must apply for designation as a redevelopment county and municipality; however, the county and municipality may submit a single application to the MDA, but the governing bodies of both the county and the municipality must pass resolutions meeting the requirements of paragraph (c)(ii) of subsection (1) of this section.
Miss. Code Ann. § 57-61-19 — MS Code / Title 57 / Chapter 13 / Section 61-19
Miss. Code Ann. § 57-61-19
Status: in_force

No loan shall be made to a municipality under this chapter unless the municipality certifies to the department, in a form satisfactory to the department, that it shall not discriminate against any employee or against any applicant for employment because of race, religion, color, national origin, sex or age.
Miss. Code Ann. § 57-75-9 — MS Code / Title 57 / Chapter 67 / Section 75-9
Miss. Code Ann. § 57-75-9
Status: in_force

(1) The authority is hereby designated and empowered to act on behalf of the state in submitting a siting proposal for any project eligible for assistance under this act. The authority is empowered to take all steps appropriate or necessary to effect the siting, development, and operation of the project within the state, including the negotiation of a fee-in-lieu. If the state is selected as the preferred site for the project, the authority is hereby designated and empowered to act on behalf of the state and to represent the state in the planning, financing, development, construction and operation of the project or any facility related to the project, with the concurrence of the affected public agency. The authority may take affirmative steps to coordinate fully all aspects of the submission of a siting proposal for the project and, if the state is selected as the preferred site, to coordinate fully, with the concurrence of the affected public agency, the development of the project or any facility related to the project with private business, the United States government and other public agencies. All public agencies are encouraged to cooperate to the fullest extent possible to effectuate the duties of the authority; however, the development of the project or any facility related to the project by the authority may be done only with the concurrence of the affected public agency.

(2)(a) Contracts, by the authority or a public agency, including, but not limited to, design and construction contracts, for the acquisition, purchase, construction or installation of a project defined in Section 57-75-5(f)(iv) 1 or any facility related to the project shall be exempt from the provisions of Section 31-7-13 if:

(i) The authority finds and records such finding on its minutes, that because of availability or the particular nature of a project, it would not be in the public interest or would less effectively achieve the purposes of this chapter to enter into such contracts on the basis of Section 31-7-13 ; and

(ii) The enterprise that is involved in the project concurs in such finding.

(b) When the requirements of paragraph (a) of this subsection are met:

(i) The requirements of Section 31-7-13 shall not apply to such contracts; and

(ii) The contracts may be entered into on the basis of negotiation.

(c) The enterprise involved with the project may, upon approval of the authority, negotiate such contracts in the name of the authority.

(d) The provisions of this subsection (2) shall not apply to contracts by the authority for excavation, fill dirt and compaction for the preparation of the site of a project as defined in Section 57-75-5(f)(iv) 1 and such contracts may be entered into pursuant to subsection (3) of this section.

(3)(a) Contracts by the authority for excavation, fill dirt and compaction for the preparation of the site of a project defined in Section 57-75-5(f)(iv) 1 shall be exempt from the provisions of Section 31-7-13 and the following procedure shall be followed in the award of such contracts:

(i) The authority shall advertise for a period of time to be set by the authority, but in no event less than one (1) business day, the date, time and place of a meeting with the authority to receive specifications on a request for proposals on excavation, fill dirt and compaction for the preparation of the site of the project defined in Section 57-75-5(f)(iv) 1 .

(ii) The authority shall set the minimum qualifications necessary to be considered for award of the contract and the advertisement shall set forth such minimum qualifications.

(iii) Following the meeting the authority shall, in its discretion, select one or more of the qualified contractors with whom to negotiate or award the contract. The decision of the authority concerning the selection of the contractor shall be final.

(b) Contracts by the authority or a public agency for site preparation, utilities, real estate improvements, wastewater or for public works for a project defined in Section 57-75-5(f)(xxi) or Section 57-75-5(f)(xxii) shall be exempt from the provisions of Section 31-7-13 and the following procedure shall be followed in the award of such contracts:

(i) The authority or the public agency shall advertise for a period of time to be set by the authority or the public agency, but in no event less than one (1) nor more than five (5) calendar days, the date, time and place of a meeting with the authority or the public agency to receive specifications on the preparation of the site of the project defined in Section 57-75-5(f)(xxi) or Section 57-75-5(f)(xxii) .

(ii) The authority or the public agency shall set the minimum qualifications necessary to be considered for award of the contract and the advertisement shall set forth such minimum qualifications.

(iii) Following the meeting the authority or the public agency shall, in its discretion, select one or more of the qualified contractors with whom to negotiate or award the contract. The decision of the authority or the public agency concerning the selection of the contractor shall be final.

(c) Contracts by a public agency for site preparation, utilities, real estate improvements, infrastructure, roads or for public works for a project defined in Section 57-75-5(f)(xxiii) , Section 57-75-5(f)(xxix) , Section 57-75-5(f)(xxx) , Section 57-75-5(f)(xxxi) , Section 57-75-5(f)(xxxii) or Section 57-75-5(f) (xxxiii) may be exempt from the provisions of Section 31-7-13 and the following procedure shall be followed in the award of contracts:

(i) The public agency shall advertise for a period of time to be set by the public agency, but in no event less than one (1) nor more than five (5) calendar days, the date, time and place of a meeting with the public agency to receive specifications on site preparation, utilities, real estate improvements, infrastructure, roads or for public works related to the project defined in Section 57-75-5(f)(xxiii) , Section 57-75-5(f)(xxix) , Section 57-75-5(f)(xxx) , Section 57-75-5(f)(xxxi) , Section 57-75-5(f)(xxxii) or Section 57-75-5(f) (xxxiii).

(ii) The public agency shall set the minimum qualifications necessary to be considered for award of the contract and the advertisement shall set forth such minimum qualifications.

(iii) Following the meeting the public agency shall, in its discretion, which discretion may include participation by an enterprise involved in the project, select one or more of the qualified contractors with whom to negotiate or award the contract. The decision of the public agency concerning selection of the contractor shall be final.

(4)(a) Contracts, by the authority or a public agency, including, but not limited to, design and construction contracts, for the acquisition, purchase, construction or installation of a project defined in Section 57-75-5(f)(xxvi) , Section 57-75-5(f)(xxvii) , Section 57-75-5(f) (xxviii), Section 57-75-5(f)(xxix) , Section 57-75-5(f)(xxx) , Section 57-75-5(f)(xxxi) , Section 57-75-5(f)(xxxii) or Section 57-75-5(f) (xxxiii), and any contracts by the authority or a public agency for site preparation, utilities, real estate improvements, infrastructure, roads or for other public facilities related to any such project shall be exempt from the provisions of Section 31-7-13 if:

(i) The authority finds and records such finding on its minutes, that because of availability or the particular nature of a project, it would not be in the public interest or would less effectively achieve the purposes of this chapter to enter into such contracts on the basis of Section 31-7-13 ; and

(ii) The enterprise that is involved in the project concurs in such finding.

(b) When the requirements of paragraph (a) of this subsection are met:

(i) The requirements of Section 31-7-13 shall not apply to such contracts; and

(ii) The contracts may be entered into on the basis of negotiation with the authority or such public agency, and the authority or such public agency may, as part of such negotiations, further negotiate and require the level of participation by the enterprise involved in the project in the negotiation of such contracts.

(c) Contracts by the authority or a public agency for site preparation, utilities, real estate improvements, infrastructure, roads or for other public facilities related to a project defined in Section 57-75-5(f)(xxxii) , shall be exempt from the provisions of Section 65-1-85 , and the authority or public agency is authorized to use any method for design and/or construction procurement and contracting. With respect to any such contract that is anticipated to be federally funded, in whole or in part, the authority or public agency may nonetheless comply with the provisions of Section 65-1-85 for purposes of compliance with any applicable federal funding requirements.

(d) The decision of the authority or the public agency concerning selection of the contractor shall be final.

(e) The company shall make commercially reasonable efforts to place out for bid, such that Mississippi Contractors and Mississippi Disadvantaged Business Enterprises (“DBEs”) shall have an equal opportunity to respond to such bid, any contract by the company which (i) is subject to tax pursuant to Mississippi Code Section 27-65-21 (i.e., contracts for constructing, building, erecting, grading, excavating, etc.), and (ii) will be paid, or payment thereunder by the company will be reimbursed, using any portion of the grant proceeds or funds provided by the authority to the company in accordance with this agreement. In carrying out such efforts, in order to increase the pool of qualified DBE bidders, the company will request that successful prime contract bidders include in their response a commitment to (a) participate in and/or host forums that highlight subcontract bidding opportunities for DBEs; and (b) work with various trade associations and the Mississippi Development Authority to promote increased participation from DBEs. With respect to awarding any contract placed out for bid, the company shall be allowed to award such contract in the company's sole discretion (e.g., based upon optimization of quality, cost and efficiency or on any other basis as the company may see fit). MDA agrees that it will offer to eligible contractor DBEs that have an opportunity to work on the project assistance through its Minority Surety Bond Guaranty Program.

(5) The Department of Employment Security is authorized to provide to the authority any information received, obtained or produced, or findings or determinations made thereby, with respect to any jobs created or maintained for a project that has been certified by the authority as a project as defined in Section 57-75-5(f) .
Miss. Code Ann. § 57-44-5 — MS Code / Title 57 / Chapter 43 / Section 44-5
Miss. Code Ann. § 57-44-5
Status: in_force

There is established a local governments freight rail service project revolving loan program to be administered by the Department of Economic and Community Development for the purpose of making loans to counties and municipalities that the governing authorities of such counties and municipalities may utilize to make loans to railroad corporations for freight rail service projects.
Miss. Code Ann. § 57-10-31 — MS Code / Title 57 / Chapter 9 / Section 10-31
Miss. Code Ann. § 57-10-31
Status: in_force

No officer or director of this corporation shall ever be held personally liable for contracts, debts or defaults of this corporation nor shall any mere informality in organization have the effect of rendering these null or of exposing the officers or directors to any such liability or responsibility. However, the officers, directors, agents and employees of the corporation shall be liable for any fraudulent or illegal diversion or misappropriation of the funds of the corporation which any such person knowingly and willfully caused, permitted or conspired to permit to be made, and all such officers, directors, agents and employees entrusted with the custody of the securities of or authorized to disburse the funds of the corporation shall be bonded, either by a blanket bond or by individual bonds, with a surety bond or bonds with a minimum limitation of One Hundred Thousand Dollars ($ 100,000.00) coverage for each person covered thereby, conditioned upon the faithful performance of their duties, the premium for which shall be paid out of the assets of the corporation.
Miss. Code Ann. § 57-18-3 — MS Code / Title 57 / Chapter 5 / Section 18-3
Miss. Code Ann. § 57-18-3
Status: in_force

The Legislature finds and declares:

(a) That the economic progress of Mississippi depends in large measure upon the development and wise use of the natural resources of this state;

(b) That the forest, wildlife and fisheries resources in this state constitute a vital segment of the natural resources available in Mississippi;

(c) That the forest, wildlife and fisheries resources, when properly managed and efficiently utilized, contribute significantly to the economic well being of Mississippi;

(d) That forestry, wildlife and related natural resource research programs can be coordinated, integrated and strengthened in a more efficient and effective manner when funded and managed jointly within a single administrative unit;

(e) That there is a present and increasing need for additional knowledge of natural resource management and utilization practices, the impact of such practices on the long-term viability of forest, wildlife and fishery resources, and the interrelationship between natural resource management and utilization practices and those aspects of environmental quality associated with the state's forest and water resources; and

(f) That this chapter is specifically designed to consolidate within a single administrative unit diverse programs of research which address the forest, wildlife and fisheries resources of the state and the management and utilization thereof.
Miss. Code Ann. § 57-41-5 — MS Code / Title 57 / Chapter 7 / Section 41-5
Miss. Code Ann. § 57-41-5
Status: in_force

The principal of, redemption premium, if any, and interest on the notes of the municipality shall be payable solely out of, and shall be secured by a pledge of the revenues and receipts derived from the industrial enterprise as designated in the proceedings of the governing body under which the notes shall be authorized to be issued, including debt obligations of the industrial enterprises obtained from or in connection with the financing of a project, and from such other sources available to the municipality as may be designated by the governing body in its proceedings in connection with the issuance of the notes. Such notes may be executed and delivered by the governing body at any time and from time to time, may be in such form and denominations, may be subject to such terms of redemption, may mature at such time or times not exceeding ten (10) years; and may be in fully registered form or in bearer form registrable either as to principal or interest or both, may bear such conversion privileges and be payable in such installments and at such time or times, may be payable at such place or places, whether within or without the state of Mississippi, may bear interest irrespective of any interest rate limitation, payable at such time or times, and at such place or places and evidenced in such manner, and may contain such provisions not inconsistent herewith, all as shall be provided in the proceedings of the governing body whereunder the notes shall be authorized to be issued.

Any notes of the governing body may be sold at public or private sale. The governing body may pay all expenses, premiums and commissions which its governing body may deem necessary or advantageous in connection with the issuance thereof, but solely from the proceeds of the notes. Bonds issued hereunder shall be validated in the manner provided by law in the chancery court of the county in which the municipality is located.
Miss. Code Ann. § 57-29-3 — MS Code / Title 57 / Chapter 25 / Section 29-3
Miss. Code Ann. § 57-29-3
Status: in_force

The travel and tourism department of the board is hereby authorized, upon approval of the board, to solicit bids from competent publication agencies and to expend such funds as may be appropriated for the purpose of publishing a vacation guide.
Miss. Code Ann. § 57-34-9 — MS Code / Title 57 / Chapter 1 / Section 34-9
Miss. Code Ann. § 57-34-9
Status: in_force

(1) A project shall be subject to taxation in the state in which the project is located. A project shall be subject to all state and local taxes in the state in which the project is located that are levied on other enterprises of similar nature in the state.

(2) For purposes of determining an entity's state tax liability with respect to a project, an entity engaging in a project located in the designated geographic area may request tax incentives offered by the state in which the project is located. Tax incentives and modifications to implement more favorable incentives may be offered to the project at the discretion of the authority. No such incentives are final without approval of the legislatures of the states.
Miss. Code Ann. § 57-49-21 — MS Code / Title 57 / Chapter 47 / Section 49-21
Miss. Code Ann. § 57-49-21
Status: in_force

The board, through the council and the committee, shall monitor activity by Congress and the federal government related to the long-term or temporary storage and/or permanent disposal of high-level radioactive waste and transuranic waste. The board, upon recommendation of the council, may advise the congressional delegation from this state of action which is necessary to protect the interests of the state.
Miss. Code Ann. § 57-40-3 — MS Code / Title 57 / Chapter 10 / Section 40-3
Miss. Code Ann. § 57-40-3
Status: in_force

There is established an energy infrastructure revolving loan program to be administered by the MDA for the purpose of assisting counties and municipalities in:

(a) Constructing, repairing or improving infrastructure related to a project, including, but not limited to, making a contribution in aid of construction to an energy-providing utility or cooperative for its constructing, repairing, improving and owning such infrastructure;

(b) Site preparation related to a project on property owned by a county or municipality; and

(c) Site preparation on property owned by the enterprise owning or operating a project.
Miss. Code Ann. § 57-61-15 — MS Code / Title 57 / Chapter 11 / Section 61-15
Miss. Code Ann. § 57-61-15
Status: in_force

(1) Except for grants authorized for state-owned ports and for grants authorized under Section 57-61-32 , Section 57-61-33 and Section 57-61-36, Mississippi Code of 1972 , no more than Seven Million Five Hundred Thousand Dollars ($ 7,500,000.00) of the proceeds of bonds authorized to be issued under this chapter shall be made available for grants to municipalities; however, Two Million Five Hundred Thousand Dollars ($ 2,500,000.00) of such amount shall be made available for grants to small communities.

(2) In no case shall any municipality receive more than one (1) grant in any single fiscal year. This subsection shall not apply to grants authorized under Section 57-61-36, Mississippi Code of 1972 .

(3) A minimum of twenty-five percent (25%) of the aggregate funds made available under this chapter shall be allocated to small communities. For the purpose of determining the aggregate funds available to make the allocation established in this subsection, there shall be excluded from inclusion therein any funds specifically dedicated pursuant to Sections 57-61-11(e)(iii) and (v) , 57-61-32 , 57-61-33 , 57-61-34 , 57-61-36 , 57-61-39 , 57-61-41 and 57-75-27, Mississippi Code of 1972 .

(4) No loan or grant shall be made without substantiation of the provisions of Section 57-61-9, Mississippi Code of 1972 .

(5) Except in the case of an application pursuant to Section 57-61-9(5)(a), Mississippi Code of 1972 , funds loaned shall be secured by a lien and/or collateralized consistent with Section 57-61-9(1)(d), Mississippi Code of 1972 , if required by the Mississippi Development Authority.

(6) Except in the case of an application pursuant to Section 57-61-9(5)(a), Mississippi Code of 1972 , private companies which fail to create and maintain the number of jobs specified in an approved application shall be liable for, in the discretion of the Mississippi Development Authority, (a) a penalty equal to two percent (2%) greater than the current prime interest rate for the remainder of the loan made for their benefit, or (b) prepayment of the outstanding loan amount incurred by the municipality for their benefit, unless the penalty or a portion thereof is waived by the Mississippi Development Authority because the failure is due to circumstances outside the control of the private company. The penalty shall be payable in installments which the Mississippi Development Authority deems appropriate. Immediate notice of penalties and waivers of penalties, including the penalties in Section 57-61-9(1)(d), Mississippi Code of 1972 , with the reasons thereof, shall be submitted by the Mississippi Development Authority to the Governor and the Legislature along with the Mississippi Development Authority's decision on the imposition of penalties and the reasons for this decision.

(7) Except in the case of an application pursuant to Section 57-61-9(5)(a), Mississippi Code of 1972 , municipalities receiving loans which fail to meet their repayment obligations shall forfeit the right to receive their sales tax allocation and/or homestead exemption reimbursement in an amount sufficient to repay obligations due until such time as their indebtedness has been discharged or arrangements to discharge such indebtedness satisfactory to the Mississippi Development Authority have been made. Sales tax allocations and/or homestead exemption reimbursements forfeited hereby shall, upon demand by the Mississippi Development Authority made in writing upon the State Tax Commission, be paid to the Mississippi Development Authority and applied to the discharge of the obligation. The Mississippi Development Authority may prescribe such other penalties it deems necessary.

(8) Any municipality which has forfeited its sales tax allocation and/or homestead exemption reimbursement for twelve (12) months may levy an ad valorem tax on the taxable property therein for the purpose of meeting its repayment obligation. The revenue produced from the tax levy shall not be included within the ten percent (10%) growth limitation on ad valorem tax receipts for its general budget.

(9) This chapter is expressly not intended to encourage the relocation of a company from one (1) jurisdiction within the state to another. Any request by a local sponsor for assistance to be provided a firm which currently operates a similar business in the state must be accompanied by a demonstration that the total net increase in and maintenance of full-time equivalent jobs, using the current number of jobs in all similar businesses operated by the private company in the state as a base, shall be at least twenty-five percent (25%). This requirement shall not apply to private companies relocating from small business incubators.
Miss. Code Ann. § 57-21-9 — MS Code / Title 57 / Chapter 21 / Section 21-9
Miss. Code Ann. § 57-21-9
Status: in_force

The laboratory is established for the following purposes:

(a) To provide analytical chemical and bacteriological services for regulatory control, in cooperation with the Mississippi Department of Agriculture and Commerce, of the quality of feeds, oil-seed meals, fertilizers and economic poisons offered for sale in Mississippi. The State Chemist shall also share responsibility for labeling and standards of such goods with these agencies.

(b) To conduct chemical, bacteriological and physical tests of foods sold in the state, regulating the quality and labeling of such foods.

(c) To conduct chemical and physical tests on petroleum products offered for sale in the state.

(d) To provide chemically oriented consultation, problem-solving services and supporting analytical chemistry for other state organizations and agencies such as the Mississippi Department of Wildlife, Fisheries and Parks, the Mississippi Department of Environmental Quality, the State Geologist, the Board of Health, the Mississippi Development Authority, the University Research Center, the Veterinary Diagnostic Laboratory, the Highway Patrol, the Mississippi Forensics Laboratory, the Mississippi Department of Agriculture and Commerce, the Cooperative Extension Service and the Agricultural and Forestry Experimental Station as funds and resources permit.

(e) To provide chemical consultation, toxicological analyses and scientific services for the solution of problems of individual citizens and firms of the state who are engaged in agricultural or industrial endeavors furthering the economic growth or development of Mississippi.

(f) To conduct research and development programs associated with the discharge of these responsibilities.

(g) To carry out any program or duty which may be authorized or delegated to it by future legislation.
Miss. Code Ann. § 57-10-517 — MS Code / Title 57 / Chapter 9 / Section 10-517
Miss. Code Ann. § 57-10-517
Status: in_force

(1) DECD shall adopt and publish the eligibility criteria for planning and development districts and qualified entities to participate in the program as set forth in this article, a timetable and process for review of applications from planning and development districts or qualified entities, and program report forms, all in accordance with this article, and such other rules and regulations as may be necessary and appropriate in carrying out its responsibilities under this article; provided, however, that planning and development districts or qualified entities shall have sole authority over the approval of assistance and the management of the assistance provided under this article.

(2) The Mississippi Association of Planning and Development Districts shall prepare and adopt such uniform applications, forms, procedures and requirements for use in connection with the program as they deem necessary and appropriate.
Miss. Code Ann. § 57-10-109 — MS Code / Title 57 / Chapter 3 / Section 10-109
Miss. Code Ann. § 57-10-109
Status: in_force

The manager shall be required to have a surety bond in an amount to be fixed by the committee.

The manager, subject to the approval of the committee, is authorized to employ such additional technical, clerical and stenographic assistance as may be necessary to carry out the provisions of this article. It is hereby made the duty of all of the departments and agencies of the state government to give aid and assistance to the manager in administering this program.
Miss. Code Ann. § 57-49-17 — MS Code / Title 57 / Chapter 28 / Section 49-17
Miss. Code Ann. § 57-49-17
Status: in_force

The board shall promote and coordinate educational programs which provide information on the nature of high-level radioactive waste and transuranic waste, the long-term or temporary storage and/or permanent disposal of these wastes, the activities of the board, the council and the committee, the activities of the federal department of energy and other federal agencies related to the long-term or temporary storage and/or permanent disposal of high-level radioactive waste and transuranic waste.
Miss. Code Ann. § 57-49-17 — MS Code / Title 57 / Chapter 23 / Section 49-17
Miss. Code Ann. § 57-49-17
Status: in_force

The board shall promote and coordinate educational programs which provide information on the nature of high-level radioactive waste and transuranic waste, the long-term or temporary storage and/or permanent disposal of these wastes, the activities of the board, the council and the committee, the activities of the federal department of energy and other federal agencies related to the long-term or temporary storage and/or permanent disposal of high-level radioactive waste and transuranic waste.
Miss. Code Ann. § 57-85-5 — MS Code / Title 57 / Chapter 65 / Section 85-5
Miss. Code Ann. § 57-85-5
Status: in_force

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

(a) “ MDA ” means the Mississippi Development Authority.

(b) “ Project ” means construction, rehabilitation or repair of buildings; sewer systems and transportation directly affecting the site of the proposed rural business; sewer facilities, acquisition of real property, development of real property, improvements to real property, and any other project approved by the Mississippi Development Authority. The term “project” does not include any medical cannabis establishment as defined in the Mississippi Medical Cannabis Act.

(c) “ Rural business ” means a new or existing business located or to be located in a rural community or a business or industry located or to be located within five (5) miles of a rural community. “Rural business” does not include gaming businesses or utility businesses, or medical cannabis establishments as defined in the Mississippi Medical Cannabis Act.

(d) “ Rural community ” means a county in the State of Mississippi that meets the population criteria for the term “limited population county” as provided in Section 57-1-18 . “Rural community” also means a municipality in the State of Mississippi that meets the population criteria for the term “small municipality” as provided in Section 57-1-18 .

(2)(a) There is created in the State Treasury a special fund to be designated as the “Mississippi Rural Impact Fund,” which shall consist of funds appropriated or otherwise made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used to make grants and loans to rural communities and loan guaranties on behalf of rural businesses to assist in completing projects under this section.

(b) Monies in the fund which are derived from proceeds of bonds issued after April 15, 2003, may be used to reimburse reasonable actual and necessary costs incurred by the MDA for the administration of the various grant, loan and financial incentive programs administered by the MDA. An accounting of actual costs incurred for which reimbursement is sought shall be maintained by the MDA. Reimbursement of reasonable actual and necessary costs shall not exceed three percent (3%) of the proceeds of bonds issued. Reimbursements under this paragraph (b) shall satisfy any applicable federal tax law requirements.

(c) The MDA may use monies in the fund to pay for the services of architects, engineers, attorneys and such other advisors, consultants and agents that the MDA determines are necessary to review loan and grant applications and to implement and administer the program established under this section.

(d) The State Auditor may conduct performance and compliance audits under this chapter according to Section 7-7-211(o) and may bill the oversight agency.

(3) The MDA shall establish a program to make grants and loans to rural communities and loan guaranties on behalf of rural businesses from the Mississippi Rural Impact Fund. A rural community may apply to the MDA for a grant or loan under this section in the manner provided for in this section. A rural business may apply to the MDA for a loan guaranty under this section in the manner provided in this section.

(4) A rural community desiring assistance under this section must submit an application to the MDA. The application must include a description of the project for which assistance is requested, the cost of the project for which assistance is requested and any other information required by the MDA. A rural business desiring assistance under this section must submit an application to the MDA. The application must include a description of the purpose for which assistance is requested and any other information required by the MDA. The MDA may waive any requirements of the program established under this section in order to expedite funding for unique projects.

(5) The MDA shall have all powers necessary to implement and administer the program established under this section, and the MDA shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.
Miss. Code Ann. § 57-31-29 — MS Code / Title 57 / Chapter 15 / Section 31-29
Miss. Code Ann. § 57-31-29
Status: in_force

The carrying out of the corporate purposes of the authority is in all respects for the benefit of the people of such county and is a public purpose, and the authority will be performing an essential governmental function in the exercise of the powers conferred upon it by this chapter. Hence, any property owned or held by the authority or under its jurisdiction under the provisions of this chapter shall be exempt from all taxation in the State of Mississippi.
Miss. Code Ann. § 57-39-9 — MS Code / Title 57 / Chapter 11 / Section 39-9
Miss. Code Ann. § 57-39-9
Status: in_force

The powers and duties of the division shall include, but not be limited to, the following:

(a) To promote Mississippi as a leader in energy development, job creation and research.

(b) To contribute to economic development activities related to the energy production and manufacturing sectors.

(c) To promote energy efficiency across state government and within the private sector and other sectors, so that the state can realize the monetary and environmental benefits of energy efficiency.

(d) To prepare, when necessary, a Mississippi Energy Plan and a State Energy Management Plan as hereinafter set forth.

(e) To develop policies and long-term strategic plans for the State of Mississippi to accomplish the duties hereinafter set forth.

(f) To collect, maintain and provide analysis of data related to energy consumption, production and natural resources pertinent to the development of more energy opportunities within the state.

(g) To promote the development, manufacturing and use of renewable technologies, processes and products in the state.

(h) To serve as the State Energy Office for the State of Mississippi and fulfill requirements of the State Energy Office as mandated by the federal government or the Governor.

(i) To prepare implementation programs in accordance with the requirements of the plan.

(j) Upon request, to accept, receive and receipt for federal monies and other monies, either public or private, for and in behalf of this state. Upon request of any political subdivision of the state, to accept, receive and receipt for any designated purpose, federal monies and other monies, either public or private, for and in behalf of any such political subdivision.

(k) To confer with or to hold joint hearings with any agency of the United States in connection with any matter arising under this chapter, or relating to the sound development of energy utilization.

(l) To perform such acts, make, promulgate and amend such reasonable general or special rules, regulations and procedures as it shall deem necessary to carry out the provisions of this chapter and to perform its duties hereunder. No rules, regulations or procedures prescribed by the board shall be inconsistent with, or contrary to, any acts of the Congress of the United States or any regulations promulgated pursuant thereto, or to this chapter or any other statutes of the State of Mississippi.

(m) To enter into contracts, grants and cooperative agreements with any federal or state agency, department or subdivision thereof, or any public or private institution located inside or outside the State of Mississippi, or any person, corporation or association in connection with carrying out the provisions of this chapter, provided the agreements do not have a financial cost in excess of the amounts appropriated for such purposes by the Legislature.

(n) As required by the federal government or as directed by the Governor of the State of Mississippi, to establish a state program to administer the State Petroleum Set-Aside Program and to provide assistance in obtaining adjustments specified in orders issued by the Federal Energy Office.
Miss. Code Ann. § 57-114-9 — MS Code / Title 57 / Chapter 67 / Section 114-9
Miss. Code Ann. § 57-114-9
Status: in_force

The total amount of the initial mFlex tax incentive determined and awarded by the authority to the certified applicant shall be calculated by the authority as follows:

(a) Subject to paragraph (f) below, one and one-half percent (1.5%) of the total purchase or sales price, or value, including any installation costs thereof, as applicable, of all manufacturing or processing machinery acquired, leased or otherwise moved into the state following the project certification date to establish and equip the qualified economic development project; plus

(b) Subject to paragraph (f) below, seven percent (7%) of the total purchase or sales price, or value, including any installation costs thereof, as applicable, of all nonmanufacturing equipment, other than tagged over-the-road vehicles, acquired, leased or otherwise moved into the state following the project certification date to establish and equip the qualified economic development project; plus

(c) Subject to paragraph (f) below, two percent (2%) of the total contract price or compensation paid to any contractor pursuant to any construction contract entered into following the project certification date by the qualified business or industry or any affiliate thereof, to construct, build, erect, repair or add to any building, facility, structure or other improvement to real property described in Section 27-65-21(1)(a)(i) to establish and construct the qualified economic development project; plus, if applicable;

(d) To the extent that the average employer wage is equal to or more than seventy-five percent (75%) of the average state or county wage, then an additional fifteen percent (15%) of the product derived by multiplying the average employer wage by the number of new full-time jobs; plus, if applicable;

(e)(i) To the extent that 1. the qualified economic development project is an enterprise enumerated in Section 2(x)(i) or Section 2(x)(ii) of this act; 2. the number of new full-time jobs totals fifty (50) or more; 3. the qualified investment totals Ten Million Dollars ($10,000,000) or more; 4. the average employer wage is equal to or more than one hundred ten percent (110%) of the average state or county wage; and 5. all full-time employees are eligible for and offered health insurance coverage funded in whole or at least fifty percent (50%) by the qualified business or industry (or by a leasing company with respect to leased employees), then an additional thirty percent (30%) of the product derived by multiplying the average employer wage by the number of new full-time jobs; or

(ii) To the extent that subparagraph (i) of this paragraph (e) does not apply, but 1. the number of new full-time jobs totals twenty-five (25) or more; 2. the average employer wage is equal to or more than one hundred twenty-five percent (125%) of the average state or county wage; and 3. all full-time employees are eligible for and offered health insurance coverage funded in whole or at least fifty percent (50%) by the qualified business or industry (or by a leasing company with respect to leased employees), then an additional thirty percent (30%) of the product derived by multiplying the average employer wage by the number of new full-time jobs; provided, however, that the initial mFlex tax incentive award amount determined by the authority and awarded on the project certification date shall be based upon estimates provided by the qualified business or industry to the authority with respect to paragraphs (a) through (d) of this section, which estimates shall be memorialized as project performance measures agreed to by the qualified business or industry in the mFlex agreement; provided, further, that such initial award amount shall be subject to any subsequent adjustments made by the authority pursuant to Section 7 of this act;

(f) To the extent that all or any portion of the purchases to establish a qualified economic development project which are financed by proceeds from bonds issued pursuant to Section 57-10-201 et seq. or Section 57-10-401 et seq. , the mFlex tax incentive determined in accordance with this section shall exclude the amount calculated in accordance with paragraphs (a), (b) and (c) above; provided that, this paragraph (f) shall not apply in determining the mFlex tax incentive for a qualified economic development project to the extent that (i) the qualified economic development project is an expansion of an existing project, (ii) all or any portion of the purchases to establish the existing project were financed by proceeds from bonds issued pursuant to Section 57-10-201 et seq. or Section 57-10-401 et seq. , and (iii) no purchases to establish the expansion constituting a qualified economic development project are financed by proceeds from bonds issued pursuant to Section 57-10-201 et seq. or Section 57-10-401 et seq.
Miss. Code Ann. § 57-32-9 — MS Code / Title 57 / Chapter 15 / Section 32-9
Miss. Code Ann. § 57-32-9
Status: in_force

Any county electing to designate a specific portion of the levy authorized by this chapter to industrial development within such county may also pledge to continue to levy an assessment, not in excess of three-fourths ( 3 / 4 ) mill, against all of the assessed property in said county for a period of time no longer than twenty (20) years, in order to further secure any indebtedness of the council incurred pursuant to the granted authority under Section 57-32-5 . Once the board of supervisors of any county has so pledged to levy such millage, not in excess of three-fourths ( 3 / 4 ) mill, the county shall be obligated to continue such levy until the indebtedness of the council for which the levy was pledged under the authority of this chapter has been paid in full, but in no case shall such levy continue in force longer than twenty (20) years. No county shall be obligated to continue any levy to pay off any indebtedness of the council the board of supervisors of such county, by appropriate order, shall have approved the borrowing of such money by the council for a specific purpose and shall have pledged to levy such assessment, not in excess of three-fourths ( 3 / 4 ) mill, for such specific indebtedness of the council.
Miss. Code Ann. § 57-10-531 — MS Code / Title 57 / Chapter 3 / Section 10-531
Miss. Code Ann. § 57-10-531
Status: in_force

(1) The proceeds realized from the sale of bonds and notes under this article, other than refunding bonds and replacement notes, shall be paid to the State Treasurer and deposited into the Mississippi Small Business Assistance Fund and specifically dedicated to the purposes enumerated in this article.

(2) All nonfederal funds which may become available for the purposes of this article shall be deposited in the Mississippi Small Business Assistance Fund and shall be allocated for the purposes of this article.

(3) The proceeds of the sale of refunding bonds and replacement notes shall be applied solely to the payment of the principal of and the accrued interest on and premium, if any, and costs of redemption of the bonds and notes for which such obligations have been issued.
Miss. Code Ann. § 57-40-1 — MS Code / Title 57 / Chapter 31 / Section 40-1
Miss. Code Ann. § 57-40-1
Status: in_force

As used in this chapter:

(a) “ Project ” means a facility constructed after July 1, 2012, with a capital investment from private sources of not less than Fifty Million Dollars ($ 50,000,000.00).

(b) “ MDA ” means the Mississippi Development Authority.
Miss. Code Ann. § 57-49-5 — MS Code / Title 57 / Chapter 27 / Section 49-5
Miss. Code Ann. § 57-49-5
Status: in_force

(1) The department shall serve as the initial agency in this state to be contacted by the federal department of energy or any other federal agency on any matter related to the long-term or temporary storage and/or permanent disposal of high-level radioactive waste or transuranic waste.

(2) The department shall serve as the initial agency in this state to receive any report, study, document, information or notification of proposed plans from the federal department of energy or any other federal agency on any matter related to the long-term or temporary storage and/or permanent disposal of high-level radioactive waste or transuranic waste. Notification of proposed plans include notification of proposals to conduct field work, on-site evaluation, on-site testing or any other related studies.

(3) The department shall disseminate or arrange with the federal department of energy or other federal agency to disseminate information received under subsection (2) of this section to the council, the committee, appropriate state agencies, appropriate local units of government and interested citizen groups.

(4) The department, in accordance with the recommendations and advice of the council and committee, shall respond to contacts made under subsection (1) of this section and information received under subsection (2) of this section if a response is appropriate. The department may consult with the council, the committee, and with appropriate state agencies and local units of government. The council and the committee shall prepare written comments for use by the department in preparing its response.

(5) The department, in consultation with the council and the committee, is authorized to promulgate all rules and regulations and to establish all procedures necessary to enable it to discharge its duties and powers under this chapter and to carry out the purposes and objectives of this chapter. This authority shall include, but shall not be limited to, the establishment of procedures regarding the issuance of any permits the department may require for any type of testing to be conducted in connection with evaluating and selecting a site for the long-term or temporary storage and/or permanent disposal of high-level radioactive waste or transuranic waste.
Miss. Code Ann. § 57-49-25 — MS Code / Title 57 / Chapter 28 / Section 49-25
Miss. Code Ann. § 57-49-25
Status: in_force

An application for a permit to conduct site characterization studies which shall be filed pursuant to this chapter shall contain the following information and materials:

(a) A description of the proposed activities, including maps, present and proposed development, and geological, seismic, ecological, hydrological, biological, aesthetic, social, demographic and related data as appropriate;

(b) A statement of the ownership and other financial interests in the facility;

(c) An estimate of the costs of the proposed activities, if any, and the source of the funds therefor;

(d) A statement of the need for the proposed activities, including the sources, type, and composition of the nuclear waste proposed to be received for storage at the facility;

(e) A plan for decontamination and decommissioning of the facility and the possibility of restoration of the site to unrestricted use, including the costs thereof and the source of the funds therefor;

(f) An assessment of the environmental impacts of the proposed action, including the preparation of a formal environment assessment, such assessment to include at a minimum:

(1) An evaluation by the secretary of the United States Department of Energy of the suitability of such site for site characterization pursuant to guidelines promulgated pursuant to Section 112(a) of P.L. 97-425 ;

(2) An evaluation of the short-term and long-term environmental effects and proposed mitigation measures proposed to minimize those effects;

(3) An evaluation of any adverse environmental effects which could not be avoided during the site characterization activities;

(4) An evaluation by the secretary as to whether such candidate site is suitable for development as a repository under each such guideline that does not require site characterization as a prerequisite for application of such guideline;

(5) An evaluation by the secretary of the effects of the site characterization activities at such candidate site on the public health and safety and the environment;

(6) A reasonable comparative evaluation by the secretary of such candidate site with other sites and locations that have been considered;

(7) A description of the decision process by which such candidate site was recommended; and

(8) An assessment of the regional and local impacts of locating the proposed repository at such candidate site.

(g) An assessment of the safety and adequacy of in-state transportation access to the site for construction and maintenance purposes;

(h) A disposal plan and assured funding mechanism for the nuclear waste proposed to be stored at the facility, including the costs of such disposal and the source of the funds therefor; and

(i) A complete survey by the applicant of its expertise and experience in all other fields of study in relation to high-level radioactive waste disposal, to include the general conclusions and technical results and findings of those activities.
Miss. Code Ann. § 57-27-3 — MS Code / Title 57 / Chapter 7 / Section 27-3
Miss. Code Ann. § 57-27-3
Status: in_force

Any group of interested citizens and residents of counties comprising a natural promotion region of this state, and who are residents of counties representing not less than fifty percent (50%) of the total population of the region, but in no event less than fifteen (15) individuals, who shall form a nonprofit corporation pursuant to the provisions of the Mississippi Nonprofit Corporation Law for the purpose of promoting tourist travel and vacation business in the counties comprising the natural promotion region, and whose charter, bylaws and purpose are in compliance with the rules and regulations promulgated by the board pursuant to the provisions of this chapter, may apply for recognition by the board as a regional tourist promotion council under this chapter. Provided, that upon approval of the board, a county in one (1) natural promotion region of the state may be included within the area comprising a different and adjacent natural promotion region if, and when, experience establishes that the county tourist values are more closely identified with the other region.
Miss. Code Ann. § 57-32-3 — MS Code / Title 57 / Chapter 26 / Section 32-3
Miss. Code Ann. § 57-32-3
Status: in_force

Before entering upon the duties of the office, each member of said council shall take and subscribe the following oath: “I __________, do solemnly swear (or affirm) that I will faithfully support the Constitution of the United States and the Constitution of the State of Mississippi, and obey the laws thereof; that I am not disqualified from being a member of Southeast Mississippi Industrial Council; that I will faithfully discharge the duties of the office upon which I am about to enter; so help me God.” In addition thereto, each member so appointed shall qualify by making a surety bond in an amount not less than ten thousand dollars ($ 10,000.00) indemnifying the council against malfeasance or misfeasance in office, the premiums on all such surety bonds being paid by the council. The members of said council shall meet at the regular meeting place of the board of supervisors of Jones County, Mississippi, within ten (10) days after the council is created, and shall elect from among their number a president, vice president and secretary-treasurer, and shall adopt a seal and such bylaws, rules and regulations as may be necessary to govern the time, place and manner for holding of subsequent meetings of the council and for the conduct of its business, not inconsistent with the provisions of this chapter. The members of said council shall serve without salary or compensation; provided, however, that their actual reasonable expenses incurred in performance of their duties may be reimbursed, including mileage as authorized by law for state employees.
Miss. Code Ann. § 57-10-707 — MS Code / Title 57 / Chapter 9 / Section 10-707
Miss. Code Ann. § 57-10-707
Status: in_force

(1) To the extent funds are available, the Mississippi Development Authority, in cooperation with public and private sector partners, is authorized to establish a program modeled on comparable initiatives throughout the nation that provides grants and loans and/or promotes access to healthy food retailers that increase access to fresh fruits and vegetables, in natural and/or frozen form, and other affordable healthy food in underserved communities.

(2) The agency may contract with one or more qualified nonprofit organizations or community development financial institutions to administer the program described in this article through a public-private partnership, to raise matching funds, market the program statewide, evaluate applicants, make award decisions, underwrite loans and monitor compliance and impact. The agency and its partners shall coordinate with complementary nutrition assistance and education programs.

(3) Any funding provided under the program shall be provided on a competitive, one-time basis as appropriate for the eligible project. No state funds shall be directly provided as a source of funding for any food retailer under this program, but may be used by the agency for its administrative duties in carrying out the provisions of this article.

(4)(a) The program may provide technical assistance and/or funding for projects such as:

(i) New construction of healthy food retailers.

(ii) Store renovations, expansion and infrastructure upgrades that improve the availability and quality of fresh produce.

(iii) Farmers' markets and public markets, food cooperatives, mobile markets and delivery projects and distribution projects that enable food retailers in underserved communities to regularly obtain fresh produce.

(iv) Other projects that create or improve healthy food retail outlets that meet the intent of this article as determined by the agency.

(b) Funding made available for projects included in paragraph (a) of this subsection may be used for the following purposes:

(i) Site acquisition and preparation.

(ii) Construction costs.

(iii) Equipment and furnishings.

(iv) Workforce training.

(v) Security.

(vi) Certain predevelopment costs such as market studies and appraisals.

(vii) Working capital for initial inventory and costs.

(5) An applicant for funding may include, but not be limited to, a sole proprietorship, partnership, limited liability company, corporation or cooperative.

(6) In order to be considered for funding, an applicant shall meet the following eligibility criteria:

(a) The project for which the applicant seeks funding shall benefit an underserved community.

(b) The applicant shall demonstrate a meaningful commitment to sell fresh fruits and vegetables, in natural and/or frozen form, according to a measurable standard established by the agency.

(c) The applicant shall not locate the project in an area where it would be directly competing against an existing food retailer.

(7) Applicants shall be evaluated on the following financial criteria in order to determine the funding awarded:

(a) Demonstrated capacity to successfully implement the project, including the applicant's relevant experience and the likelihood that the project will be economically self-sustaining.

(b) The ability of the applicant to repay debt.

(c) The degree to which the project requires an investment of public funding to move forward, create impact or be competitive, and the level of need in the area to be served. Additional factors that will improve or preserve retail access for low-income residents, such as proximity to public transit lines, also may be taken into account.

(d) The degree to which the project will promote sales of fresh produce, particularly Mississippi-grown fruits and vegetables.

(e) The degree to which the project will have a positive economic impact on the underserved community, including, creating or retaining jobs for local residents.

(f) Other criteria that the agency determines to be consistent with the purposes of this article.

(8) The agency shall establish program benchmarks and reporting processes to make certain that the program benefits the communities in the program area. The agency shall likewise establish monitoring and accountability mechanisms for projects receiving grants or loans, such as tracking fruit and vegetable sales data.

(9) The agency shall prepare and submit an annual report to the Legislature on any projects funded and outcome data.

(10) The agency shall establish rules for the implementation of this article.
Miss. Code Ann. § 57-11-17 — MS Code / Title 57 / Chapter 7 / Section 11-17
Miss. Code Ann. § 57-11-17
Status: in_force

The Mississippi Marketing Council is hereby authorized to acquire by donation or lease for and in the name of the State of Mississippi suitable and accessible facilities as may be necessary for the display, disposal and sale of those certain objects of crafts and arts set forth in Section 57-11-15 . The marketing council is hereby authorized and empowered to lease, or rent, to any individual any part of the property under its jurisdiction acquired for such purposes. The funds derived from any lease, or rental contract, entered into under authority of this section shall be deposited in the state treasury to the credit of the general fund of the state.
Miss. Code Ann. § 57-10-307 — MS Code / Title 57 / Chapter 4 / Section 10-307
Miss. Code Ann. § 57-10-307
Status: in_force

(1) The corporation shall develop a beginning farmer loan program to facilitate the acquisition of agricultural land and improvements and depreciable agricultural property by beginning farmers. The corporation shall exercise the powers granted to it in Title 57, Chapter 10, Article 9 and Title 57, Chapter 10, Article 7, Mississippi Code of 1972 , in order to fulfill the goal of providing financial assistance to beginning farmers in the acquisition of agricultural land and agricultural improvements and depreciable agricultural property. The corporation may participate in and cooperate with programs of the Farmers Home Administration, Federal Land Bank or any other agency or instrumentality of the federal government or with any program of any other state agency in the administration of the beginning farmer loan program and in the making or purchasing of mortgage or secured loans pursuant to this article.

(2) The corporation may participate in any federal programs designed to assist beginning farmers or in any related federal or state programs.

(3) Prior to carrying out the powers granted under Sections 57-10-301 through 57-10-305 , the corporation shall promulgate rules and regulations governing activities authorized hereunder, including but not limited to rules and regulations including the following:

(a) The beginning farmer is a resident of the state. If the beginning farmer is a partnership, all partners shall be residents of the state.

(b) The agricultural land and agricultural improvements or depreciable agricultural property the beginning farmer proposes to purchase will be located in the state.

(c) The beginning farmer has sufficient education, training or experience in the type of farming for which the beginning farmer requests the mortgage or secured loan. If the beginning farmer is a partnership, all partners shall have sufficient education, training or experience in the type of farming for which the beginning farmer requests the mortgage or secured loan.

(d) A loan to a beginning farmer for the acquisition of agricultural land and agricultural improvements does not exceed Two Hundred Fifty Thousand Dollars ($ 250,000.00). A loan to a beginning farmer for the acquisition of depreciable agricultural property does not exceed One Hundred Twenty-five Thousand Dollars ($ 125,000.00).

(e) If the loan is for the acquisition of agricultural land, the beginning farmer has or will have access to adequate working capital, farm equipment, machinery or livestock. If the loan is for the acquisition of depreciable agricultural property, the beginning farmer has or will have access to adequate working capital or agricultural land.

(f) The beginning farmer will materially and substantially participate in farming. If the beginning farmer is a partnership, each partner shall materially and substantially participate in farming.

(g) If the beginning farmer is an individual, the agricultural land and agricultural improvements shall only be used for farming by the individual, the individual's spouse, the individual's minor children, or any of them. If the beginning farmer is a partnership, the agricultural land and agricultural improvements shall only be used for farming by the partners, each partner's spouse, each partner's minor children, or any of them.

(h) The beginning farmer has not previously received financing under this article for the acquisition of property similar in nature to the property for which the loan is sought. However, this restriction shall not apply if the amount previously received plus the amount of the loan does not exceed Two Hundred Fifty Thousand Dollars ($ 250,000.00) in the case of agricultural land and improvements or One Hundred Twenty-five Thousand Dollars ($ 125,000.00) in the case of depreciable agricultural property.

(4) The corporation may provide in a mortgage or secured loan made or purchased pursuant to this article that the loan may not be assumed or any interest in the agricultural land or improvements or depreciable agricultural property may not be leased, sold or otherwise conveyed without its prior written consent and may provide a due-on-sale clause with respect to the occurrence of any of the foregoing events without its prior written consent. The corporation may provide by rule the grounds for permitted assumptions of a mortgage or for the leasing, sale or other conveyance of any interest in the agricultural land or improvements. However, the corporation shall provide and state in a mortgage or secured loan that the corporation has the power to raise the interest rate of the loan to the prevailing market rate if the mortgage or secured loan is assumed by a farmer who is already established in that field at the time of the assumption of the loan.

(5) The corporation may participate in any interest in any mortgage or secured loan made or purchased pursuant to this article with a mortgage lender. The participation interest may be on a parity with the interest in the mortgage or secured loan retained by the corporation, equally and ratably secured by the mortgage or securing agreement securing the mortgage or secured loan.
Miss. Code Ann. § 57-10-403 — MS Code / Title 57 / Chapter 7 / Section 10-403
Miss. Code Ann. § 57-10-403
Status: in_force

(1) The Legislature finds and declares that the general welfare and material well-being of citizens of the state depend in large measure upon the development and growth of industry in the state.

(2) The Legislature finds and declares further that it is in the best interest of the state to induce the location or expansion of manufacturing facilities within this state in order to advance the public purposes of relieving unemployment by creating new jobs within this state that, but for the inducements to be offered by the corporation to approved companies as herein provided, would not exist, and of creating new sources of tax revenues for the support of the public services provided by this state and country.

(3) The Legislature finds and declares further that the authority granted by this article and the purposes to be accomplished hereby are proper governmental and public purposes for which public monies may be expended, and that the inducement of the location or expansion of manufacturing facilities within the state is of paramount importance, mandating that the provisions of this article be liberally construed and applied in order to advance the public purposes.
Miss. Code Ann. § 57-31-23 — MS Code / Title 57 / Chapter 4 / Section 31-23
Miss. Code Ann. § 57-31-23
Status: in_force

The revenues, rents, and earnings derived from any project, or any and all revenues, rents, and earnings received by the authority unless necessary for operation, maintenance or repair of the project or unless otherwise pledged and allocated, may be pledged and allocated by the authority to the payment of the principal of and interest on the revenue bonds of the authority as the resolution authorizing the issuance of the bonds may provide, and such pledge may include funds received from one or more or all sources and shall be set aside at regular intervals into a sinking fund, which sinking fund shall be pledged to and charged with the payment of:

(a) The interest upon such revenue bonds as such interest shall accrue.

(b) The principal of the bonds as the same shall become due.

(c) The necessary charges of the paying agent or paying agents for paying principal and interest of and on such bonds.

The use and disposition of such sinking fund shall be subject to such regulations as may be provided in the resolution authorizing any issue of revenue bonds. Subject to the provisions of the resolution authorizing the issuance of the bonds, surplus moneys in the sinking fund may be applied to the purchase or redemption of any of such bonds, and any such bonds so purchased or redeemed shall forthwith be cancelled and shall not again be issued.