reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-3 - Declaration of public policy

It is hereby declared that the state's public welfare demands, and the state's public policy requires:
(a)
That for the benefit of the people of the State of Mississippi, it is essential to foster and promote the issuing of bonds by local government units jointly or severally, including any joint bond issuance with a county, parish or other foreign political subdivision in another state.
(b)
That the bonds to be issued pursuant to this chapter shall be of any type permissible to be issued by any local government unit without limitation.
(c)
That the purposes of the bonds issued under this chapter are for acquiring land and/or acquiring or constructing buildings, fixtures, machinery, equipment, infrastructure, utilities, port or airport facilities, roads, railroad spurs and other related projects that have or will provide a multijurisdictional benefit.
(d)
That the projects contemplated under this chapter are to provide economic development benefits, including but not limited to, industry, distribution, commerce, tourism, healthcare and other purposes in which the public purpose and interest of the people of the state is served.
(e)
That costs and revenues connected with a project should both be shared by the members of the alliance created pursuant to this chapter.
(f)
That the authority granted under this chapter and the purposes to be accomplished hereby are proper governmental and public purposes and that the resulting economic benefits to the state are of paramount importance, mandating that the provisions of this chapter be liberally construed and applied in order to advance the public purposes.
Laws, 2000, 2nd Ex Sess, ch. 1, § 6, eff. 8/30/2000.
Amended by Laws, 2017, ch. 337, SB 2448, 1, eff. 3/13/2017.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-5 - Purpose

It is the purpose of this chapter to permit local government units of the state to make the most efficient use of their powers and resources by enabling them to cooperate and to contract with other local government units, including foreign governmental units from another state, on a basis of mutual advantage, to share the costs of and revenues derived from a project, and to pledge revenue from a project to secure payment of the bonds issued for the project, and thereby provide services and facilities in a manner pursuant to forms of governmental organization that will accord best with geographic, economic, population and other factors influencing the needs and economic development of the local government units.
Laws, 2000, 2nd Ex Sess, ch. 1, § 7, eff. 8/30/2000.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-11 - Issuance of bonds

(1)
After receiving a certificate of public convenience and necessity from the MDA, the local government unit is empowered and authorized, from time to time, to issue bonds up to the maximum principal amount authorized in the certificate.
(2)
After receiving a certificate of public convenience and necessity from the MDA, the governing body of any local government unit entering into an agreement pursuant to this chapter may incur bonded and floating indebtedness by issuing general obligation bonds, revenue bonds or special assessment bonds as authorized by any statute authorizing the issuance of such bonds, and otherwise incur indebtedness in any manner for which the local government unit is authorized by statute to incur debt, and may appropriate funds for the purposes and in the manner prescribed by law without regard to whether the activities and improvements authorized by this chapter to be financed by such debt or appropriation are within or without the boundaries of the local government unit. Revenues derived from any project financed with bonds issued pursuant to this chapter may be pledged in whole or in part to secure payment of the bonded indebtedness incurred to finance the project. Such governing body may sell, lease, grant or otherwise supply goods and services to any other local government unit which is a party to the agreement or the administrative body or legal entity created to operate the joint or cooperative undertaking.
Laws, 2000, 2nd Ex Sess, ch. 1, § 10, eff. 8/30/2000.
Amended by Laws, 2017, ch. 337, SB 2448, 3, eff. 3/13/2017.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-13 - Joint exercise of power and authority by local governments

(1)
Any power, authority or responsibility exercised or capable of being exercised by a local government unit of this state may be exercised and carried out jointly with any other local government unit of this state or with a foreign governmental unit of another state, any state board, agency or commission and any public agency of the United States, to the extent that the laws of the United States permit such joint exercise or enjoyment.
(2)
No such power, authority and responsibility may be exercised under the provisions of this chapter which will have the effect of abolishing any office which is held by a person elected by the citizenry.
(3)
No agreement made under this chapter shall be entered into by any local government unit without the approval by resolution on the minutes of the governing body of that local government unit.
(4)
Any joint undertaking entered into under this chapter shall be evidenced by written contractual agreements for joint or cooperative action to provide services and facilities pursuant to the provisions of this chapter which agreements shall be approved by the MDA. Appropriate action by ordinance, resolution or otherwise pursuant to the law controlling the participating local government units or agencies shall be necessary before any such agreement shall be in force.
(5)
An alliance created pursuant to this chapter may take any action with respect to a project that any local government unit member may take. If one (1) member of the alliance shall have authority to undertake a particular project or pursue a particular action with respect to such project, then the alliance shall have identical authority so to do. No local government unit shall be precluded from joining an alliance, and it shall not be the basis for denying an application for a certificate of convenience and necessity by the MDA, solely because the alliance may have power to take actions that the local government unit acting alone could not take.
Laws, 2000, 2nd Ex Sess, ch. 1, § 11, eff. 8/30/2000.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-17 - Promulgation of rules and regulations

The MDA is hereby authorized and empowered to promulgate and put into effect, in accordance with the Mississippi Administrative Procedures Law, all reasonable rules and regulations that it may deem necessary to carry out the provisions of the Regional Economic Development Act. Nothing in the Regional Economic Development Act shall in any way confer to the MDA the authority to impose a sales tax or other tax of any kind.
Laws, 2000, 2nd Ex Sess, ch. 1, § 13, eff. 8/30/2000.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-21 - Agreements under this chapter to include certain provisions

Any agreement made under this chapter shall specify the following:
(a)
Its duration.
(b)
Its purpose or purposes.
(c)
The precise organization, composition, nature and powers of any separate legal or administrative entity created thereby and the specific citation of statutory authority vested in each of the local government units which is to be a party to the agreement.
(d)
The manner of financing, staffing and supplying the joint or cooperative undertaking and of establishing and maintaining a budget therefor; provided that the treasurer and/or disbursing officer of one (1) of the local government units shall be designated in the agreement to receive, disburse and account for all funds of the joint undertaking as a part of the duties of the officer or officers.
(e)
The permissible method or methods to be employed in operating the alliance and the project and accomplishing the partial or complete termination or amendment of the agreement and for disposing of property upon such partial or complete termination or amendment.
(f)
The provision for administration of issuance of any bonds under this chapter by a local government unit exercising the power authorized by this chapter.
(g)
The manner of acquiring, holding and disposing of real and personal property used in the joint or cooperative undertaking in the event that the agreement does not or may not establish a separate legal entity to conduct the joint or cooperative undertaking.
(h)
A provision specifying the terms and conditions that would cause the alliance to be terminated.
(i)
The manner in which the costs of the project shall be shared between the local government units.
(j)
The manner in which the revenues from the project shall be shared by the local government units.
(k)
Any other necessary and proper matters.
Laws, 2000, 2nd Ex Sess, ch. 1, § 15, eff. 8/30/2000.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-23 - Agreements under this chapter to be approved by certain officers; agreements to be filed

(1)
In the event that an agreement made pursuant to this chapter shall deal in whole or in part with the provision of services or facilities with regard to which an officer, unit or agency of the state government has constitutional or statutory powers of control, the agreement shall, as a condition precedent to its being in force, be submitted to the state officer, unit or agency having such power of control and shall be approved or disapproved by him or it as to all matters within his or its jurisdiction in the same manner and subject to the same requirements governing action of the Attorney General pursuant to subsection (2) of this section.
(2)
Every agreement made by a local government unit under this chapter shall, prior to and as a condition precedent to its entry into force, be submitted to the Attorney General of this state who shall determine whether the agreement is in proper form and compatible with the laws of this state. The Attorney General shall approve any such agreement submitted to him hereunder unless he shall find that it does not meet the conditions set forth herein and elsewhere in the laws of this state and shall detail in writing addressed to the governing bodies of the units concerned the specific respects in which the proposed agreement fails to meet the requirements of law.
Failure to disapprove an agreement submitted hereunder within sixty (60) days of its submission shall constitute approval thereof.
(3)
Prior to its being in force, an agreement made pursuant to this chapter shall be filed with the chancery clerk of each of the counties wherein a participating local government unit is located and with the Secretary of State. The chancery clerk and the Secretary of State shall preserve such agreements as public records and index and docket the same separate and apart from all other records in his office.
Laws, 2000, 2nd Ex Sess, ch. 1, § 16; Laws, 2009, ch. 546, § 17, eff. 4/15/2009.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-25 - Applicability of existing laws

All laws in regard to purchases, auditing, depositories and expenditures in general which limit the authority of the agreeing local governing units shall also apply to any joint body created by the agreement pursuant to the provisions of this chapter.
Laws, 2000, 2nd Ex Sess, ch. 1, § 17, eff. 8/30/2000.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-27 - Powers and authorities granted by this chapter additional and supplemental to existing powers; chapter does not authorize alliances to provide utility service other than water and sewage; chapter not a limitation on local authority to proceed with a project utilizing methods not included in this chapter

(1)
The powers and authority granted and set forth in this chapter shall be additional and supplemental to any other powers and authority granted by law and shall not amend, repeal or supersede any other powers and authority granted by law.
(2)
Nothing in this chapter shall authorize an alliance to provide utility services, other than water and sewage, for compensation. This subsection shall not be construed to prevent a city, county or natural gas district from supplying utility service that it is authorized to supply in the service area that it is authorized to serve.
(3)
Nothing in this chapter shall be construed to limit the authority of any local government unit to plan, construct, expand or maintain a project as defined in this chapter utilizing any method not included in this chapter, nor shall the authority to issue bonds to finance such projects or oversight of the project be construed to be transferred to the MDA.
Laws, 2000, 2nd Ex Sess, ch. 1, § 18, eff. 8/30/2000.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-29 - Authority of member of regional economic development alliance to negotiate purchase option for real property; preliminary engineering, environmental and related studies; costs

A local government unit that is a member of a regional economic development alliance created under the Regional Economic Development Act is authorized to negotiate a purchase option for real property to be used for the purposes of the alliance. A local government unit may pay all costs incurred for the acquisition of such an option regardless of whether the local government unit exercises the option at a later date. As a part of any such option, a local government unit may negotiate the right to enter upon the real property before the purchase for the purpose of conducting any preliminary engineering, environmental and related surveys or studies necessary to effectuate the option. A local government unit may pay all costs incurred for such surveys or studies regardless of whether the local government unit exercises the option at a later date.
Laws, 2002, ch. 464, § 1, eff. 3/20/2002.
Amended by Laws, 2017, ch. 337, SB 2448, 4, eff. 3/13/2017.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-31 - Eminent domain

The board of supervisors of any county that is a member of a regional economic development alliance created under the Regional Economic Development Act may exercise the power of eminent domain for the purpose of acquiring land, property and/or rights-of-way for a project as defined in Section
57-75-5(f)(i)
or any facility related to the project as defined in Section
57-75-5(d)
, or both. The board of supervisors of such a county shall not exercise the authority granted under this section without first receiving a binding commitment providing that such a project will be located in a county that is a member of the regional economic development alliance. The board of supervisors of such a county shall not exercise the power of eminent domain under this section after July 1, 2006.
Laws, 2002, ch. 464, § 2; Laws, 2004, ch. 378, § 1, eff. 7/1/2004.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 64 - REGIONAL ECONOMIC DEVELOPMENT (§§ 57-64-1 — 57-64-33) › Section 57-64-33 - [Repealed]

Repealed by Laws, 2004, ch. 481, § 1, eff. 5/1/2004.
Laws, 2002, ch. 464, § 4, eff. 3/20/2002.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 65 - MISSISSIPPI INTERNATIONAL TRADE INSTITUTE (§ 57-65-1) › Section 57-65-1 - Establishment; functions and duties

(1)
The Department of Economic Development may establish a Mississippi International Trade Institute, hereinafter referred to as the MITI.
(2)
It shall be the function and duties of the MITI to:
(a)
Gather, evaluate, interpret and publish international trade data on Mississippi's foreign trade.
(b)
Represent the state in responding to, and assisting, foreign officials or business representatives and domestic representatives in undertaking appropriate foreign trade development.
(c)
Establish liaison with those federal and state agencies and organizations engaged in international trade to assure for Mississippi the best possible posture for expanding its international trade economy.
(d)
Serve as a clearinghouse for inquiries received from foreign business persons seeking information on product distribution, sales, trade agreements, manufacturing, licensing and similar matters.
(e)
Publish a directory of prominent businesses and organizations in Mississippi's foreign trade, with a product guide.
(f)
Provide special assistance to Mississippi's agricultural producers and firms engaged in the marketing of agricultural products produced in Mississippi to develop overseas markets.
(g)
Communicate with foreign, national, state and local agencies, and public and private persons, associations and corporations regarding international marketing of agricultural products produced in Mississippi.
(3)
In executing the duties assigned in this section, the MITI shall work closely with other state and local agencies having responsibility for economic development.
(4)
It is the intention of the Legislature that the Department of Economic Development shall establish such institute if personnel and funds are made available therefor.
Laws, 1987, ch. 435; Laws, 1988, ch. 518, § 87, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-1 - Short title

This chapter shall be known and may be cited as the "Mississippi Superconducting Super Collider Act."
Laws, 1987 Ex Sess, ch. 24, § 1, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-3 - Legislative findings and declarations

The Legislature hereby finds and declares that:
(a)
There exists in the State of Mississippi a continuing need for gainful employment for the citizens of this state.
(b)
To help provide employment opportunities, a division within the Office of the Governor should be created with power to secure the location within this state of the particle beam accelerator known as the Superconducting Super Collider that the United States Department of Energy is planning to build.
(c)
In accomplishing this purpose, such division will be acting in all respects for the benefit of the people of the state in the performance of essential public functions and is serving a valid public purpose in improving and otherwise promoting their health, welfare and prosperity, and the enactment of the provisions hereinafter set forth is for a valid public purpose.
(d)
Public agencies of the state, as herein defined, must be authorized and empowered to contract with and cooperate with the authority for the purposes herein set out.
(e)
The borrowing of money and the issuance of bonds and state bonds for the purposes hereinafter set out serves valid public purposes in that the project will significantly contribute to the employment base and scientific and educational growth of the state.
Laws, 1987, Ex Sess ch. 24, § 2, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-7 - Mississippi Superconducting Super Collider Authority created; executive director

(1)
There is created within the Office of the Governor a division to be known as the "Mississippi Superconducting Super Collider Authority" for the performance of essential public functions. The Governor shall appoint, with the advice and consent of the Senate, an executive director, who shall serve at the will and pleasure of the Governor. The Governor shall prescribe the duties of and fix the compensation of such executive director. The executive director shall have the authority to employ and dismiss employees of the authority.
(2)
The executive director shall administer, manage and direct the affairs and business of the authority, subject to the policies, direction, control and approval of the Governor.
Laws, 1987 Ex Sess, ch. 24, § 4, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-9 - Submission of site proposal; development of project; special advisory committees

(1)
The authority is hereby designated and empowered to act on behalf of the state in submitting a siting proposal for the project. If the authority is not operational as of the date of the proposal, the Governor is authorized to submit the proposal. The authority is empowered to take all steps appropriate or necessary to effect the siting, development, and operation of the Superconducting Super Collider research facility within the state. 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. The authority shall 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 the development of the project or any facility related to the project with the United States Department of Energy and other public agencies. Other state agencies and local governmental entities in this state shall cooperate to the fullest extent possible to effectuate the duties of the authority.
(2)
To consult with the Governor and with the authority concerning the siting, development and operation of the Superconducting Super Collider research facility in the state, the Governor may establish special advisory committees, as he deems necessary, which may be composed of lay persons, scientists, physicists, engineers, other professionals and anyone having special knowledge of or interest in the project.
Laws, 1987 Ex Sess, ch. 24, § 5, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-13 - Board of Trustees of State Institutions of Higher Learning; powers and duties

(1)
The Board of Trustees of State Institutions of Higher Learning is hereby directed to develop plans for the creation of an Institute of High Energy Physics. Upon notification to the authority by the Department of Energy that the state has been selected as the site of the project, the Board of Trustees of State Institutions of Higher Learning not later than one (1) year thereafter shall establish and create the institute. Such institute shall include at least twenty (20) funded faculty positions and shall include facilities to accommodate faculty and graduate students.
(2)
The Board of Trustees of State Institutions of Higher Learning is hereby directed to develop plans for the creation of an Institute for Mathematics and Computing Sciences. Upon notification to the authority by the Department of Energy that the state has been selected as the site of the project, the Board of Trustees of State Institutions of Higher Learning not later than one (1) year thereafter shall establish and create the institute.
(3)
The authority is hereby directed to develop plans for technology transfer activities to ensure private sector conduits for exchange of information, technology and expertise related to the project to generate opportunities for commercial development within the state.
Laws, 1987 Ex Sess, ch. 24, § 7, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-21 - Power of authority to issue refunding bonds

The authority may issue refunding bonds for the purpose of paying any of its bonds at or prior to maturity or upon acceleration or redemption. Refunding bonds may be issued at such time prior to the maturity or redemption of the refunded bonds as the authority deems to be in the public interest, without notice and without an election on the question of the issuance thereof. The refunding bonds may be issued in sufficient amounts to pay or provide the principal of the bonds being refunded, together with any redemption premium thereon, any interest accrued or to accrue to the date of payment of such bonds, the expenses of issue of the refunding bonds, the expenses of redeeming the bonds being refunded, and such reserves for debt service or other capital or current expenses from the proceeds of such refunding bonds as may be required by the resolution, trust indenture or other security instruments. The issue of refunding bonds, the maturities and other details thereof, the security therefor, the rights of the holders and the rights, duties and obligations of the authority in respect of the same shall be governed by the provisions of this chapter relating to the issue of bonds other than refunding bonds insofar as the same may be applicable. Any such refunding may be effected, whether the obligations to be refunded shall have then matured or shall thereafter mature, either by the exchange of the refunding bonds for the obligations to be refunded thereby with the consent of the holders of the obligations so to be refunded, or by sale of the refunding bonds and the application of the proceeds thereof to the payment of the obligations proposed to be refunded thereby, and regardless of whether the obligations proposed to be refunded shall be payable on the same date or different dates or shall be due serially or otherwise.
Laws, 1987 Ex Sess, ch. 24, § 11, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-23 - Validation of bonds

All bonds (other than state bonds, refunding bonds, interim notes and certificates of indebtedness, which may be validated) issued pursuant to Sections
57-67-19
through
57-67-31
shall be validated as provided in Sections
31-13-1
through
31-13-11
, Mississippi Code of 1972; provided, however, that notice of such validation proceedings shall be addressed to the taxpayers of all public agencies and political subdivisions:
(a)
Which have contracted with the authority pursuant to Section
57-67-17
; and
(b)
Whose contracts and the payments to be made thereunder constitute security for the bonds of the authority proposed to be issued, and such notice shall be published at least once in a newspaper or newspapers having a general circulation within the geographical boundaries of each public agency or political subdivision to whose taxpayers the notice is addressed. Such validation proceedings shall be instituted in the First Judicial District of the Chancery Court of Hinds County. The validity of the bonds so validated and of the contracts and payments to be made by the political subdivisions thereunder constituting security for the bonds shall be forever conclusive against the authority and the political subdivisions which are parties to said contracts; and the validity of said bonds and said contracts and the payments to be made thereunder shall never be called in question in any court in this state.
Laws, 1987 Ex Sess, ch. 24, § 12, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-25 - Liability for payment of bonds

Bonds issued pursuant to Sections
57-67-19
through
57-67-31
shall not be deemed to constitute a debt, liability or obligation of the contracting public agency or political subdivisions, within the meaning of any constitutional or statutory limitation, nor shall such bonds constitute a pledge of the full faith and credit of the state or the contracting public agency or political subdivisions, but shall be payable solely from the revenues, moneys and funds of the authority pledged therefor. Each bond shall contain on the face thereof a statement to the effect that the authority shall not be obligated to pay the same nor the interest thereon except from those sources above mentioned and pledged therefor and that neither the full 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.
Laws, 1987 Ex Sess, ch. 24, § 13, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-27 - Security for payment of bonds

The authority may, in any authorizing resolution, trust indenture or other security instrument relating to its bonds, provide for the appointment of a trustee who shall have such powers as are provided therein to represent the registered owners of any issue of bonds in the enforcement or protection of their rights under any such resolution, trust indenture or security instrument. The authority may also provide in such resolution, trust indenture or other security instrument that the trustee, or in the event that the trustee so appointed shall fail or decline to so protect and enforce such registered owners' rights then such percentage of registered owners as shall be set forth in, and subject to the provisions of, such resolution, trust indenture or other security interest, may petition the court of proper jurisdiction for the appointment of a receiver of the revenues which are pledged to the payment of the principal of and interest on the bonds of such registered owners. Such receiver may exercise any power as may be granted in any such resolution, trust indenture or security instrument to collect, enforce and receive all revenues derived from agreements with any public agency or political subdivisions entered pursuant to Section
57-67-17
, and carry out the contracts and obligations of the authority in the same manner as the authority itself might do, all under the direction of such court.
Laws, 1987 Ex Sess, ch. 24, § 14, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-31 - Obligations of state in connection with bonds

The state hereby covenants with the registered owners of bonds of the authority issued pursuant to this chapter, that so long as the bonds are outstanding and unpaid the state will not materially limit or materially alter the rights and powers of the authority under this chapter to conduct the activities referred to herein in any way pertinent to the interests of the bondholders including without limitation the authority's right to collect revenues and to fulfill the terms of any covenants made with the registered owners of the bonds, or in any other way materially impair the rights and remedies of the registered owners of the bonds, unless provision for full payment of such bonds, by escrow or otherwise, has been made pursuant to the terms of the bonds or the resolution, trust indenture or security instrument securing the bonds.
Laws, 1987 Ex Sess, ch. 24, § 16, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-33 - Taxation of bonds

Any bonds or state bonds issued under the provisions of this chapter, a transaction relating to the sale or securing of such bonds, their transfer and the income therefrom shall at all times be free from taxation by the state or any local unit or political subdivision or other instrumentality of the state, excepting inheritance and gift taxes.
Laws, 1987 Ex Sess, ch. 24, § 17, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-35 - Bonds as legal investments and securities

All bonds or state bonds issued pursuant to this chapter shall be legal investments for trustees, other fiduciaries, savings banks, trust companies and insurance companies organized under the laws of the State of Mississippi; and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies of the state and all municipalities and other political subdivisions thereof for the purpose of securing the deposit of public funds.
Laws, 1987 Ex Sess, ch. 24, § 18, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 67 - MISSISSIPPI SUPERCONDUCTING SUPER COLLIDER ACT (§§ 57-67-1 — 57-67-39) › Section 57-67-39 - Construction of chapter

The provisions of this chapter are cumulative of other statutes now or hereafter enacted relating to the authority, and the authority may exercise all presently held powers in the furtherance of this chapter. If any section, paragraph, sentence, clause, phrase or any part of the provisions of this chapter is declared to be unconstitutional or void, or for any reason is declared to be invalid or of no effect, the remaining sections, paragraphs, sentences, clauses and phrases shall in no manner be affected thereby but shall remain in full force and effect.
Laws, 1987 Ex Sess, ch. 24, § 22, eff. 8/29/1987.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 69 - MISSISSIPPI MINORITY BUSINESS ENTERPRISE ACT (§§ 57-69-1 — 57-69-9) › Section 57-69-1 - Short title

This chapter shall be known and may be cited as the "Mississippi Minority Business Enterprise Act."
Laws, 1988, ch. 518, § 96, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 69 - MISSISSIPPI MINORITY BUSINESS ENTERPRISE ACT (§§ 57-69-1 — 57-69-9) › Section 57-69-7 - Certification of minority business enterprises

(1)
The Executive Director of the Mississippi Development Authority shall certify minority business enterprises that qualify as such. The director shall establish criteria by which minority business enterprises may qualify for certification.
(2)
The Executive Director of the Mississippi Development Authority shall certify minority business enterprises suppliers that qualify as such. The director shall establish criteria by which minority business enterprise suppliers may qualify for certification.
Laws, 1988, ch. 518, § 99; Laws, 2002, ch. 442, § 3; Laws, 2006, ch. 580, § 3, eff. 7/1/2006.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 69 - MISSISSIPPI MINORITY BUSINESS ENTERPRISE ACT (§§ 57-69-1 — 57-69-9) › Section 57-69-9 - Annual reports on participation in public works and procurement contracts

Each state agency and educational institution shall report the participation of minority business enterprises in the public works and procurement contracts executed by the agency or institution. The reports shall be made on a an annual basis.
Laws, 1988, ch. 518, § 100, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 71 - MISSISSIPPI SMALL ENTERPRISE DEVELOPMENT FINANCE ACT (§§ 57-71-1 — 57-71-35) › Section 57-71-1 - Short title

This act shall be known and may be cited as the Mississippi Small Enterprise Development Finance Act.
Laws, 1988, ch. 580, § 1, eff. 5/21/1988.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 71 - MISSISSIPPI SMALL ENTERPRISE DEVELOPMENT FINANCE ACT (§§ 57-71-1 — 57-71-35) › Section 57-71-3 - Purpose

It is the purpose of this act to promote business and economic development in the State of Mississippi through job producing programs and by providing loans to the Certified Development Company of Mississippi, Inc., as defined in this act; to assist in securing investment in small communities by private companies locating or expanding in the state; and to authorize the issuance of state bonds or notes for funding such programs.
Laws, 1988, ch. 580, § 2, eff. 5/21/1988.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 71 - MISSISSIPPI SMALL ENTERPRISE DEVELOPMENT FINANCE ACT (§§ 57-71-1 — 57-71-35) › Section 57-71-5 - Definitions

The following words and phrases when used in this act shall have the meaning given to them in this section unless the context clearly indicates otherwise:
(a)
"MBFC" or "company" means the Mississippi Business Finance Corporation.
(b)
"Private company" means any agricultural, aquacultural, horticultural, industrial, manufacturing or research and development enterprise or enterprises, or the lessor thereof, or any commercial enterprise approved by the Mississippi Business Finance Corporation; however, the term "private company" shall not include any business, corporation or entity having a gaming license issued under Section
75-76-1
et seq., or any medical cannabis establishment as defined in the Mississippi Medical Cannabis Act.
(c)
"Qualified financial institution" means any commercial bank or savings and loan institution approved by the Mississippi Business Finance Corporation to provide letters of credit under this act.
(d)
"Letter of credit" means a letter of credit obligation from a qualified financial institution approved by the Mississippi Business Finance Corporation.
(e)
"Planning and development districts" means the organized planning and development districts in Mississippi.
(f)
"Director" means the Executive Director of the Mississippi Business Finance Corporation.
(g)
"Seller" means the State Bond Commission.
Laws, 1988, ch. 580, § 3; Laws, 1992, ch. 548 § 7; Laws, 2007, ch. 458, § 1, eff. 3/26/2007.
Amended by Laws, 2022, ch. 303, SB 2095,§ 90, eff. 2/2/2022.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 71 - MISSISSIPPI SMALL ENTERPRISE DEVELOPMENT FINANCE ACT (§§ 57-71-1 — 57-71-35) › Section 57-71-7 - Small enterprise development finance program

There is hereby established, under the direction of the Certified Development Company of Mississippi, Inc., a program to be known as the Mississippi Small Enterprise Development Finance Program for the purpose of making loans to qualified private companies in order to provide financing to small businesses which will increase employment and investment in small communities.
Laws, 1988, ch. 580, § 4, eff. 5/21/1988.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 71 - MISSISSIPPI SMALL ENTERPRISE DEVELOPMENT FINANCE ACT (§§ 57-71-1 — 57-71-35) › Section 57-71-9 - Application for loan

Any private company desiring to borrow from the program shall make application to the company. The company shall define and publish criteria for eligibility for the program and timetable for review.
All loan applications shall identify a qualified financial institution which will issue a letter of credit to the Certified Development Company guaranteeing the loan made pursuant to this act. Such letter of credit will be in a form satisfactory to the Certified Development Company.
Laws, 1988, ch. 580, § 5, eff. 5/21/1988.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 71 - MISSISSIPPI SMALL ENTERPRISE DEVELOPMENT FINANCE ACT (§§ 57-71-1 — 57-71-35) › Section 57-71-11 - Terms and conditions of loans

(1)
No loan made under the provisions of this act shall be in an amount exceeding Four Million Dollars ($4,000,000.00) principal.
(2)
The maximum loan term shall not exceed twenty (20) years.
(3)
All loans made pursuant to this act shall be guaranteed by a letter of credit in a form acceptable to the Mississippi Business Finance Corporation from a qualified financial institution. A letter of credit may be replaced by another letter of credit from a qualified financial institution if the letter is in a form acceptable to the Mississippi Business Finance Corporation. The cost of the letter of credit shall not exceed two percent (2%) per annum of the loan. If a letter of credit, upon expiration, is not renewed by the financial institution or otherwise replaced, the company shall draw upon the letter of credit for the payment of the principal of and accrued interest on the bonds, including any penalties, premium on bonds or other costs incident to the loan.
(4)
No more than Four Million Dollars ($4,000,000.00) in loans may be outstanding in the aggregate to any one (1) borrower, either directly or indirectly, at any one time.
(5)
The interest rate on such loans shall not be less than the net interest rate on the bonds or notes issued pursuant to this act to finance the loan being repaid, plus company servicing fees.
(6)
The total amount of a loan secured by 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 thereof 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 act.
(7)
No loan shall be made under this act to finance any existing debt.
Laws, 1988, ch. 580, § 6; Laws, 1989, ch. 524, § 25; Laws, 1991, ch. 584, § 1; Laws, 2003, ch. 378, § 1, eff. 3/13/2003.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 71 - MISSISSIPPI SMALL ENTERPRISE DEVELOPMENT FINANCE ACT (§§ 57-71-1 — 57-71-35) › Section 57-71-13 - Lending guidelines, rules and regulations; identifying eligible projects; requirement of job creation; purchases exempt from taxation

The Mississippi Business Finance Corporation shall promulgate lending guidelines, rules and regulations as may be necessary to carry out the provisions of this act.
The Mississippi Business Finance Corporation may work closely with the planning and development districts in identifying eligible projects and making the program available in all areas of the state.
As part of the lending criteria, the Mississippi Business Finance Corporation must receive a commitment that the proposed project will create a minimum of ten (10) net new full-time equivalent jobs.
Notwithstanding the provisions of Section
27-65-101(1)
, Mississippi Code of 1972, and other applicable laws, all purchases required to establish any project and financed by proceeds from bonds issued under this act shall be exempt from all taxation in the State of Mississippi except the contractors' tax imposed by Sections
27-65-21
and
27-65-24(1)(b)
.
Laws, 1988, ch. 580, § 7; Laws, 1990 Ex Sess, ch. 71, § 20; Laws, 2010, ch. 449, § 9, eff. 7/1/2010.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 71 - MISSISSIPPI SMALL ENTERPRISE DEVELOPMENT FINANCE ACT (§§ 57-71-1 — 57-71-35) › Section 57-71-15 - Authorization to hire attorneys, accountants, and others to review and close loans

The Certified Development Company of Mississippi, Inc., is hereby authorized to engage legal services, financial advisors, appraisers and consultants if needed to review and close loans made pursuant to this act. The costs of such professionals shall be paid by the borrower or from loan proceeds as determined and approved by the company.
Laws, 1988, ch. 580, § 8; Laws, 1992, ch. 548 § 8, eff. 5/14/1992.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 71 - MISSISSIPPI SMALL ENTERPRISE DEVELOPMENT FINANCE ACT (§§ 57-71-1 — 57-71-35) › Section 57-71-17 - Default on loan; penalty

In the event of a default, the Certified Development Company shall call upon the letter of credit guaranteeing the principal amount of the loan plus interest due.
Failure to comply with lending criteria shall result in a penalty which the company may establish by regulation, and penalties shall not be treated as interest income for the purposes of Section 148 of the Internal Revenue Code of 1986.
Laws, 1988, ch. 580, § 9, eff. 5/21/1988.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 71 - MISSISSIPPI SMALL ENTERPRISE DEVELOPMENT FINANCE ACT (§§ 57-71-1 — 57-71-35) › Section 57-71-19 - Certification of nondiscrimination as condition of loan

No loan shall be made to a private company under this act unless the private company certifies to the Certified Development Company of Mississippi, Inc., in a form satisfactory to the company, that it will not discriminate against any employee or against any applicant for employment because of race, religion, color, national origin, sex or age.
Laws, 1988, ch. 580, § 10, eff. 5/21/1988.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 71 - MISSISSIPPI SMALL ENTERPRISE DEVELOPMENT FINANCE ACT (§§ 57-71-1 — 57-71-35) › Section 57-71-21 - Mississippi Small Enterprise Development Finance Fund; Mississippi Small Enterprise Development Finance Sinking Fund

(1)
There is hereby created a special fund in the State Treasury to be known as the Mississippi Small Enterprise Development Finance Fund out of which the Certified Development Company of Mississippi, Inc., shall provide loans authorized by this act. All monies received by the company to carry out the purposes of this act by issuance of bonds shall be deposited into the Mississippi Small Enterprise Development Finance Fund or funds. Expenditures authorized from the fund shall be paid by the State Treasurer upon warrants drawn on the Mississippi Small Enterprise Development Finance Fund, and the State Fiscal Management Board shall issue warrants upon requisitions signed by the director.
(2)
Any monies repaid to the state from loans funded through the Mississippi Small Enterprise Development Finance Fund shall be deposited into the Mississippi Small Enterprise Development Finance Sinking Fund, which is hereby created in the State Treasury.
Laws, 1988, ch. 580, § 11; Laws, 1992, ch. 548 § 9, eff. 5/14/1992.