reglab/housing_qa huggingface dataset:
MS Code § 57-10-243 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 7 - Mississippi Small Business Financing Act|§ 57-10-243. Trust indenture

 The bonds may be secured by an indenture by and between the company and a corporate trustee which may be any bank or other corporation having the power of a trust company or any trust company within or without this state. Such indenture may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the company in relation to the exercise of its powers and the custody, safekeeping and application of all money. The company may provide by the indenture for the payment of the proceeds of the bonds and revenues to the trustee under the indenture or other depository, and for the method of disbursement thereof, with such safeguards and restrictions as the company may determine. If the bonds shall be secured by an indenture, the bondholders shall have no authority to appoint a separate trustee to represent them.
MS Code § 57-10-245 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 7 - Mississippi Small Business Financing Act|§ 57-10-245. Signatures on bonds

 In the event that any of the members or officers of the board of directors of the company shall cease to be members or officers of the board prior to the delivery of any bonds signed by them, their signatures or facsimiles thereof shall nevertheless be valid and sufficient for all purposes, the same as if such members or officers had remained in office until such delivery.
MS Code § 57-10-247 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 7 - Mississippi Small Business Financing Act|§ 57-10-247. Establishment of funds and accounts

 The company may create and establish such funds and accounts as may be necessary or desirable for its purposes.
MS Code § 57-10-249 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 7 - Mississippi Small Business Financing Act|§ 57-10-249. Contracts with bondholders

 The company shall have the power to contract with the holders of any of its bonds as to the custody, collection, securing, investment and payment of any money of the company, and of any money held in trust or otherwise for the payment of bonds, and to carry out such contract. Money held in trust or otherwise for the payment of bonds or in any way to secure bonds and deposits of money may be secured in the same manner as money of the company, and all banks and trust companies are authorized to give security for the deposits.
MS Code § 57-10-251 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 7 - Mississippi Small Business Financing Act|§ 57-10-251. Effect of future amendments to article

 Subsequent amendments to this article shall not limit the rights vested in the company with respect to any agreements made with, or remedies available to, the holders of bonds issued under this article prior to the enactment of the amendments until the bonds, together with all interest thereon, and all costs and expenses in connection with any proceeding by or on behalf of the holders, are fully met and discharged.
MS Code § 57-10-253 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 7 - Mississippi Small Business Financing Act|§ 57-10-253. Expenses

 All expenses incurred by the company in carrying out the provisions of this article shall be payable solely from funds provided under this article, and nothing in this article shall be construed to authorize the company to incur indebtedness or liability on behalf of or payable by the state or any other political subdivision thereof.
MS Code § 57-10-255 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 7 - Mississippi Small Business Financing Act|§ 57-10-255. Tax-exempt status of company; state's right to remaining assets upon dissolution; mortgages, leases, etc., tax-exempt; time limit on ad valorem tax exemption; new ad valorem tax exemptions where tax levied for school district purposes

  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.   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.   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.   From and after July 1, 1990, there shall be no new exemption under this section from ad valorem taxes levied for school district purposes.
MS Code § 57-10-257 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 7 - Mississippi Small Business Financing Act|§ 57-10-257. Investment in bonds; bonds as security for deposits

 The bonds issued by and under the authority of this article by the company are declared to be legal investments in which all public officers or public bodies of the state, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations, and other persons carrying on insurance business, all banks, bankers, banking associations, trust companies, savings associations, including savings and loan associations, building and loan associations, investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons who are now or may later be authorized to invest in bonds or in other obligations of the state, may invest funds, including capital, in their control or belonging to them. Such bonds are also hereby made securities which may be deposited with and received by all public officers and bodies of the state or any agency or political subdivision of the state and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the state is now or may be later authorized by law.
MS Code § 57-10-259 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 7 - Mississippi Small Business Financing Act|§ 57-10-259. Annual report

 The company shall, within one hundred twenty (120) days of the close of each fiscal year, submit an annual report of its activities for the preceding year to the Governor. The clerk of each house of the Legislature shall receive a copy of the report by making a request for it to the company. Each report shall set forth a complete operating and financial statement for the company during the fiscal year it covers.
MS Code § 57-10-261 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 7 - Mississippi Small Business Financing Act|§ 57-10-261. Construction of article

 Nothing contained in this article is to be construed as a restriction or limitation upon any powers which the company might otherwise have under any other law of the state. Insofar as the provisions of this article are inconsistent with the provisions of any other law, the provisions of this article shall be controlling, and the powers conferred by this article shall be regarded as supplemental and additional to powers conferred by any other laws. No proceedings, notice or approval shall be required for the issuance of any bonds or any instrument or the security therefor, except as provided in this article.   The provisions of this article shall be liberally construed to accomplish the purposes of this article.   The powers granted and the duties imposed in this article shall be construed to be independent and severable. If any one or more sections, subsections, sentences or parts of any of this article shall be adjudged unconstitutional or invalid, such adjudication shall not affect, impair or invalidate the remaining provisions thereof, but shall be confined in its operation to the specific provisions so held unconstitutional or invalid.
MS Code § 57-10-301 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 9 - Mississippi Business Finance Corporation Beginning Farmer Program|§ 57-10-301. Short title

 This article shall be entitled the "Mississippi Business Finance Corporation Beginning Farmer Program."
MS Code § 57-10-303 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 9 - Mississippi Business Finance Corporation Beginning Farmer Program|§ 57-10-303. Definitions

 For the purposes of this article, the following words shall have the meanings ascribed herein, unless the context otherwise requires:   "Act" means the Mississippi Business Financing Act being Title 57, Chapter 10, Article 7, Mississippi Code of 1972.   "Agricultural land" means land suitable for use in farming.   "Agricultural improvements" means any improvements, buildings, structures or fixtures suitable for use in farming which are located on agricultural land. "Agricultural improvements" includes a single-family dwelling located on agricultural land which is or will be occupied by the beginning farmer and structures attached to or incidental to the use of the dwelling.   "Corporation" means the Mississippi Business Finance Corporation.   "Beginning farmer" means an individual or partnership with a low or moderate net worth that engages in farming or wishes to engage in farming.   "Bonds" means bonds issued by the corporation pursuant to the provisions of the Mississippi Business Financing Act.   "Depreciable agricultural property" means personal property suitable for use in farming for which an income tax deduction for depreciation is allowable in computing federal income tax under the Internal Revenue Code of 1986, as amended.   "Farming" means the cultivation of land for the production of agricultural crops, the raising of poultry, the production of eggs, the production of milk, the production of fruit or other horticultural crops, grazing, the production of livestock, aquaculture, hydroponics, the production of forest products or other activities designated by the corporation.   "Mortgage" means a mortgage, mortgage deed, deed of trust, or other instrument creating a first lien, subject only to title exceptions and encumbrances acceptable to the corporation, including any other mortgage liens of equal standing with or subordinate to the mortgage loan retained by a seller or conveyed to a mortgage lender, on a fee interest in agricultural land and agricultural improvements.   "Mortgage lender" means a bank, trust company, mortgage company, national banking association, savings and loan association, life insurance company, any state or federal governmental agency or instrumentality, including without limitation the Federal Land Bank or any of its local associations, or any other financial institution or entity authorized to make mortgage loans or secured loans in this state.   "Mortgage loan" means a financial obligation secured by a mortgage.   "Note" means a bond anticipation note or other obligation or evidence of indebtedness issued by the corporation pursuant to this article.   "Secured loan" means a financial obligation secured by a chattel mortgage, security agreement or other instrument creating a lien on an interest in depreciable agricultural property.   "State agency" means any board, commission, department, public officer or other agency or authority of the State of Mississippi.
MS Code § 57-10-305 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 9 - Mississippi Business Finance Corporation Beginning Farmer Program|§ 57-10-305. Legislative findings and determinations

 The Legislature finds and determines as follows:   There exists a serious problem in the state regarding the ability of nonestablished farmers to acquire agricultural land and agricultural improvements and depreciable agricultural property in order to enter farming.   This barrier to entry into farming is conducive to consolidation of acreage of agricultural land with fewer individuals resulting in a grave threat to the traditional family farm.   These conditions result in a loss in population, unemployment and a movement of persons from rural communities to urban areas accompanied by added costs to communities for creation of new public facilities and services.   One major cause of this condition has been recurrent shortages of funds in private channels and the high interest cost of borrowing.   These shortages and costs have made the sale and purchase of agricultural land to beginning farmers a virtual impossibility in many parts of the state.   The ordinary operations of private enterprise have not in the past corrected these conditions.   A stable supply of adequate funds for agricultural financing is required to encourage beginning farmers in an orderly and sustained manner and to reduce the problems described in this section.   It is necessary that the corporation be given the authority to encourage ownership of farms by beginning farmers by providing purchase money loans to beginning farmers who are not able to obtain adequate capital elsewhere to provide such funds and to lower costs through the use of public financing.
MS Code § 57-10-403 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 11 - Bonds to Finance Economic Development Projects|§ 57-10-403. Legislative findings and declarations

  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.   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.   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.
MS Code § 57-10-407 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 11 - Bonds to Finance Economic Development Projects|§ 57-10-407. Power of corporation to accept and expend monies

 The corporation may accept and expend: (a) monies which may be appropriated from time to time by the Legislature; (b) monies which may be available under the Mississippi Small Enterprise Development Finance Act; or (c) monies which may be received from any source, including income from the corporation's operations, under Sections 57-10-401 through 57-10-445, for effectuating the purposes of Sections 57-10-401 through 57-10-445, including, without limitation, the payment of the expenses of administration and operation incurred pursuant to Sections 57-10-401 through 57-10-445 and the establishment and, if deemed desirable, maintenance of a reserve or contingency fund for the administration of Sections 57-10-401 through 57-10-445.
MS Code § 57-10-411 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 11 - Bonds to Finance Economic Development Projects|§ 57-10-411. Certification of company's state income tax liability and amount of tax credits

 Ninety (90) days after the filing of the tax return of the approved company, the Department of Revenue shall certify to the corporation the state income tax liability for the preceding year of each approved company with respect to an economic development project financed under Sections 57-10-401 through 57-10-445, and the amounts of any tax credits taken under Sections 57-10-401 through 57-10-445.
MS Code § 57-10-413 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 11 - Bonds to Finance Economic Development Projects|§ 57-10-413. Job development assessment fee

 [In cases involving an economic development project for which the Mississippi Business Finance Corporation has issued bonds for the purpose of financing the approved costs of such project prior to July 1, 1994, this section shall read as follows:]    The approved company may require that each employee whose gross wages are equivalent to Five Dollars ($5.00) or more per hour, as a condition of employment, agrees to pay a job development assessment fee not to exceed a certain percentage of the gross wages of each such employee whose job was created as a result of the economic development project, for the purpose of retiring the bonds which fund the economic development project or other indebtedness. The job development assessment fee shall not exceed the following percentages of the gross wages of the employee:   Two percent (2%), if the gross wages of the employee are equivalent to Five Dollars ($5.00) or more per hour but less than Seven Dollars ($7.00) per hour;   Four percent (4%), if the gross wages of the employee are equivalent to Seven Dollars ($7.00) or more per hour but less than Nine Dollars ($9.00) per hour; and   Six percent (6%), if the gross wages of the employee are equivalent to Nine Dollars ($9.00) or more per hour.     Each employee so assessed shall be entitled to credits against Mississippi income taxes as provided in Section 27-7-22.3.   If an approved company shall elect to impose the assessment as a condition of employment, it shall deduct the assessment from each paycheck of each employee.   Any approved company collecting an assessment as provided in subsection (1) of this section shall make its payroll books and records available to the corporation at such reasonable times as the corporation shall request and shall file with the corporation documentation respecting the assessment as the corporation may require.   Any assessment of the wages of employees of an approved company in connection with their employment at an economic development project under subsection (1) of this section shall lapse on the date the bonds are retired.
MS Code § 57-10-415 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 11 - Bonds to Finance Economic Development Projects|§ 57-10-415. Payment of revenue bonds; security

 Every issue of bonds under Sections 57-10-401 through 57-10-445 shall be payable solely out of any revenues of the corporation as provided in Sections 57-10-401 through 57-10-445. The bonds additionally may be secured by a pledge of any grant, contribution or guarantee from the federal government or any person or a pledge by the corporation of any revenues from any source.
MS Code § 57-10-417 (2020)
2020 Mississippi Code|Title 57 - Planning, Research and Development|Chapter 10 - Small Business Assistance|Article 11 - Bonds to Finance Economic Development Projects|§ 57-10-417. Bonds as limited obligation of corporation; personal liability of member or officer of corporate board

 The bonds issued by the corporation under Sections 57-10-401 through 57-10-445 shall be limited obligations of the corporation and shall not constitute a debt, liability or general obligation of the state or any political subdivision thereof (other than the corporation), or a pledge of the faith and credit of the state or any political subdivision thereof (other than the corporation), but shall be payable solely as provided by the corporation under Sections 57-10-401 through 57-10-445. No member or officer of the board of directors of the corporation nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof. Each bond issued under Sections 57-10-401 through 57-10-445 shall contain on the face thereof a statement that neither the state, nor any other political subdivision thereof, shall be obligated to pay the same or the interest thereon or other costs incident thereto except from the revenue or money pledged by the corporation and that neither the faith and credit nor the taxing power of the state or any political subdivision thereof is pledged to the payment of the principal of, or the interest on, such bond.