reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › JOINDER OF SUPERVISORS DISTRICTS OF ADJACENT COUNTIES IN ESTABLISHING INDUSTRIAL ENTERPRISES (§§ 57-1-131 — 57-1-145) › Section 57-1-135 - Appointment, terms of office, organization, and meetings of board of commissioners

The commissioners authorized by Section
57-1-131
shall be deemed to be the governing body of the municipality. Except as hereinafter provided, the term of each commissioner shall be four (4) years, and until his successor shall have been appointed in like manner and shall have qualified. In case of death, disability or resignation, the vacancy shall be filled for the unexpired term by appointment to be made by the board of supervisors of the county in which such vacancy occurred. Of the two (2) commissioners first appointed by each county, one (1) shall be designated to serve for a term of two (2) years, and the other shall be designated to serve for a term of four (4) years, and until their respective successors shall have been appointed and qualified. The aforesaid designations shall be made by the respective boards of supervisors. Such commissioners shall constitute a board, and shall organize by electing a president and a secretary, and by adopting an official seal with which to attest its official acts, and by adopting a name by which the municipality formed by the districts involved shall be known and recognized. The adoption of a name for any such municipality prior to the enactment of this statute is hereby validated and confirmed. The commissioners shall meet at such time and place as they may determine, shall keep full, complete and permanent minutes of their meetings and records of their proceedings, and shall receive no compensation for their services, except reimbursement for actual and necessary expenses incurred by them in traveling in performance of their duties. No action taken by such commissioners and no contract or agreement entered into by them shall be valid and effectual unless and until the same is approved by the board of supervisors of each county having territory involved, by resolution spread at large upon the minutes of such board.
Codes, 1942, § 8938-03; Laws, 1946, ch. 245, § 3; Laws, 1962, 2d Ex. Sess. ch. 26, eff. 11/15/1962.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › JOINDER OF SUPERVISORS DISTRICTS OF ADJACENT COUNTIES IN ESTABLISHING INDUSTRIAL ENTERPRISES (§§ 57-1-131 — 57-1-145) › Section 57-1-137 - Rights, powers and authority of municipalities generally

For the purpose of operating or engaging in the enterprise as authorized at the election held for that purpose, the municipality herein authorized acting through its board of commissioners and subject to the approval of the boards of supervisors of each of the counties having territory included within such municipality shall have all the rights, powers, and authority granted to municipalities by Sections
57-1-1
through
57-1-51
.
Codes, 1942, § 8938-08; Laws, 1946, ch. 245, § 8.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › JOINDER OF SUPERVISORS DISTRICTS OF ADJACENT COUNTIES IN ESTABLISHING INDUSTRIAL ENTERPRISES (§§ 57-1-131 — 57-1-145) › Section 57-1-139 - Issuance of bonds; contracts

The board of commissioners of the municipality as defined in Section
57-1-133
, subject to the approval of the boards of supervisors of each county having territory involved, may issue such bonds as may be authorized in the election held for the operation of the enterprise, and may make all contracts for the erection of buildings and structures and the acquisition and purchase of lands, and for the operation of such enterprise. All such contracts so entered into by such commissioners shall not be valid, however, until approved by resolution spread at large upon the minutes of each of the boards of supervisors of the counties having territory included in the municipality.
Codes, 1942, § 8938-04; Laws, 1946, ch. 245, § 4.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › JOINDER OF SUPERVISORS DISTRICTS OF ADJACENT COUNTIES IN ESTABLISHING INDUSTRIAL ENTERPRISES (§§ 57-1-131 — 57-1-145) › Section 57-1-141 - Execution of bonds

The bonds issued under Section
57-1-139
shall be signed by the president of the board of commissioners, counter-signed by the clerk of said board of commissioners, and shall pledge the full faith and credit of the supervisors districts included in the municipality.
Codes, 1942, § 8938-05; Laws, 1946, ch. 245, § 5.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › JOINDER OF SUPERVISORS DISTRICTS OF ADJACENT COUNTIES IN ESTABLISHING INDUSTRIAL ENTERPRISES (§§ 57-1-131 — 57-1-145) › Section 57-1-143 - Depository

The board of commissioners of the municipality as defined in Section
57-1-133
shall designate a depository for the funds of the municipality in the same manner as county depositories are designated.
Codes, 1942, § 8938-06; Laws, 1946, ch. 245, § 6.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › JOINDER OF SUPERVISORS DISTRICTS OF ADJACENT COUNTIES IN ESTABLISHING INDUSTRIAL ENTERPRISES (§§ 57-1-131 — 57-1-145) › Section 57-1-145 - Tax levy

On or before the first Monday of September of each year, the board of commissioners for the municipality comprising two or more supervisors districts of adjacent counties shall meet and levy a tax sufficient upon the taxable property of the territory to provide funds for the payment of interest on bonds and the payment of bonds maturing within one year, and to provide a sinking fund for the redemption of any outstanding bond and shall certify such levy to the boards of supervisors of each of the counties affected, prior to the date on which county tax levies are fixed, and it shall be the duty of the respective boards of supervisors to levy the tax prescribed by the board of commissioners of the municipality upon the taxable property of the territory of the county which is embraced in the municipality. The tax collector of each county shall thereupon collect such tax in the same manner and at the same time as other taxes are collected and shall transmit the proceeds thereof to the proper depositories.
Codes, 1942, § 8938-07; Laws, 1946, ch. 245, § 7.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › JOINDER WITH ADJOINING SUPERVISORS DISTRICT WHICH HAS CERTIFICATE OF NECESSITY AND CONVENIENCE (§§ 57-1-171 — 57-1-179) › Section 57-1-171 - Definitions for Sections 57-1-171 through 57-1-179

The word "municipality" as used in Sections
57-1-171
through
57-1-179
shall mean "county, supervisors district, city, town or village."
Codes, 1942, § 8937; Laws, 1946, ch. 320, §§ 1-5; Laws, 1960, ch. 146.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › JOINDER WITH ADJOINING SUPERVISORS DISTRICT WHICH HAS CERTIFICATE OF NECESSITY AND CONVENIENCE (§§ 57-1-171 — 57-1-179) › Section 57-1-173 - Application for and issuance of certificate

Whenever a supervisors district or a city, town or village in a supervisors district, or both, which adjoins a supervisors district in the same county, already having a certificate of convenience and necessity issued under the provisions of Sections
57-1-1
through
57-1-51
, and which has already voted to engage in an enterprise authorized under the provisions of said sections, desires to join in the enterprise, the adjoining supervisors district or city, town or village, or both, wishing to so join may make application to the Mississippi Agricultural and Industrial Board for a certificate of convenience and necessity, the same as if such supervisors district or city, town or village, or both, had joined with the supervisors district already having a certificate of convenience and necessity in its original application. Such application shall show that the joining of the said supervisors district or city, town or village, or both, will benefit such municipality by the use of its natural resources or the employment of its labor, and that it has adequate property values and suitable financial conditions so that the total bonded indebtedness of the municipality shall not exceed twenty percent (20%) of the total assessed valuation of all of the property in the municipality, and that the joining of such municipality in the operation of the enterprise by the supervisors district already holding a certificate of convenience and necessity shall result in the enlargement of the enterprise and that such enlargement of the enterprise shall benefit the petitioning municipality. The board may issue a certificate of convenience and necessity the same as if the petitioning municipality had joined in the original application. However, when bonds are issued jointly by a municipality and a county or a supervisors district of such county, then in such event, the limitation of twenty percent (20%) of the assessed valuation of such municipality or county or supervisors district shall apply to each such taxing district even though such assessments include identical property.
Codes, 1942, § 8937; Laws, 1946, ch. 320, §§ 1-5; Laws, 1960, ch. 146.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › JOINDER WITH ADJOINING SUPERVISORS DISTRICT WHICH HAS CERTIFICATE OF NECESSITY AND CONVENIENCE (§§ 57-1-171 — 57-1-179) › Section 57-1-175 - Election; issuance of bonds

When such certificate of convenience and necessity is issued authorizing the petitioning municipality to join in the operation of the enterprise, proceedings thereafter shall be held within such municipality as is provided in Sections
57-1-1
through
57-1-51
with reference to notice, voting and election, and such municipality may issue its bonds in such amount as may be authorized by the board for the enlargement and extension of the enterprise.
Codes, 1942, § 8937; Laws, 1946, ch. 320, §§ 1-5; Laws, 1960, ch. 146.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › JOINDER WITH ADJOINING SUPERVISORS DISTRICT WHICH HAS CERTIFICATE OF NECESSITY AND CONVENIENCE (§§ 57-1-171 — 57-1-179) › Section 57-1-177 - Application of Sections 57-1-1 through 57-1-51

All provisions of Sections
57-1-1
through
57-1-51
, so far as the same are applicable, shall apply to all proceedings by the municipality desiring to join with another municipality which has already received a certificate of convenience and necessity.
Codes, 1942, § 8937; Laws, 1946, ch. 320, §§ 1-5; Laws, 1960, ch. 146.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › JOINDER WITH ADJOINING SUPERVISORS DISTRICT WHICH HAS CERTIFICATE OF NECESSITY AND CONVENIENCE (§§ 57-1-171 — 57-1-179) › Section 57-1-179 - Interest of joining municipality in enterprise

The municipality joining with another municipality which has already received a certificate of convenience and necessity shall have an undivided interest in the enterprise in the same proportion as the amount of bonds issued by such municipality bears to the total bonds issued by both municipalities in the establishment of such enterprise.
Codes, 1942, § 8937; Laws, 1946, ch. 320, §§ 1-5; Laws, 1960, ch. 146.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › AVAILABLE INDUSTRIAL BUILDING PROGRAM [Repealed] (§ 57-1-201) › Section 57-1-201 - through 57-1-215 - [Repealed]

Repealed by Laws, 1981, ch. 441, § 9, eff. 7/1/1985.
Laws, 1981, ch. 441, §§ 1-8.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › MAJOR ENERGY PROJECT DEVELOPMENTS (§§ 57-1-251 — 57-1-261) › Section 57-1-253 - Duties of department as to proposal, planning, financing, development, operation, etc., of project; cooperation by other agencies

The department is hereby designated and empowered to act on behalf of the state in submitting a siting proposal for the project. The department is empowered to take all steps appropriate or necessary to effect the siting, development, and operation of the project within the state. If the state is selected as the preferred site for the project, the department 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 department 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 department; however, the development of the project or any facility related to the project by the department may be done only with the concurrence of the affected public agency.
Laws, 1992, ch. 552 § 2, eff. 5/15/1992.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › MAJOR ENERGY PROJECT DEVELOPMENTS (§§ 57-1-251 — 57-1-261) › Section 57-1-259 - Concurrence of affected county, municipality, and/or school district required

The department shall not undertake to develop any project or facility related to the project within a county, municipality and/or school district without the concurrence of the affected county, municipality and/or school district.
Laws, 1992, ch. 552 § 5, eff. 5/15/1992.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › MAJOR ENERGY PROJECT DEVELOPMENTS (§§ 57-1-251 — 57-1-261) › Section 57-1-261 - Construction of Sections 57-1-251 through 57-1-261

The provisions of Sections
57-1-251
through
57-1-261
are cumulative of other statutes now or hereafter enacted relating to the department, and the department may exercise all presently held powers in the furtherance of Sections
57-1-251
through
57-1-261
. If any section, paragraph, sentence, clause, phrase or any part of the provisions of Sections
57-1-251
through
57-1-261
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, 1992, ch. 552 § 6, eff. 5/15/1992.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-301 - Local governments capital improvements revolving loan program established; "capital improvements" defined

(1)
There is established a local governments capital improvements revolving loan program to be administered by the Mississippi Development Authority for the purpose of assisting counties and municipalities in making capital improvements.
(2)
For purposes of Sections
57-1-301
through
57-1-335
, "capital improvements" include any combination of the following:
(a)
Construction or repair of water and sewer facilities;
(b)
Construction or repair of drainage systems for industrial development;
(c)
Improvements in fire protection;
(d)
Construction of new buildings for economic development purposes;
(e)
Renovation or repair of existing buildings for economic development purposes;
(f)
Construction or repair of access roads for industrial development;
(g)
Purchase of buildings for economic development purposes;
(h)
Construction or repair of railroad spurs for industrial development;
(i)
Construction of any county or municipally owned health care facilities, excluding any county health departments;
(j)
Construction, purchase, renovation or repair of any building to be utilized as an auditorium or convention center;
(k)
Construction of multipurpose facilities for tourism development;
(l)
Loans to a county to aid in retiring interest-bearing loans utilized for the purchase of a motion picture sound stage;
(m)
Construction, repair and renovation of parks, swimming pools and recreational and athletic facilities;
(n)
Remediation of brownfield agreement sites in accordance with Sections
49-35-1
through
49-35-25
; or
(o)
Repair, renovation and improvement of municipal natural gas facilities.
Laws, 1994, ch. 570, § 1; Laws, 1996, ch. 517, § 1; Laws, 1997, ch. 534, § 1; Laws, 2002, ch. 548, § 1; Laws, 2005, ch. 497, § 4, eff. 1/1/2005.
Amended by Laws, 2024, ch. 344, HB 155,§ 1, eff. 7/1/2024.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-305 - General powers and duties of department

In administering the provisions of Sections
57-1-301
through
57-1-335
, the Department of Economic and Community Development shall have the following powers and duties:
(a)
To supervise the use of all funds made available under Sections
57-1-301
through
57-1-335
for local governments capital improvements;
(b)
To review and certify all projects for which funds are authorized to be made available under Sections
57-1-301
through
57-1-335
for local governments capital improvements;
(c)
To requisition monies in the Local Governments Capital Improvements Revolving Loan Fund and distribute those monies on a project-by-project basis in accordance with the provisions of Sections
57-1-301
through
57-1-335
;
(d)
To ensure that the funds made available to a county or an incorporated municipality under Sections
57-1-301
through
57-1-335
provide for an equitable distribution of projects and funds among the counties and incorporated municipalities;
(e)
To maintain an accurate record of all local governments capital improvements funds made available to counties and municipalities and the costs for each project.
(f)
To adopt and promulgate such rules and regulations as may be necessary or desirable for the purpose of implementing the provisions of Sections
57-1-301
through
57-1-335
; and
(g)
To file annually with the Legislature a report detailing how monies in the Local Governments Capital Improvements Revolving Loan Fund were spent during the preceding fiscal year in each county and incorporated municipality, the number of projects approved and constructed, and the cost of each project.
Laws, 1994, ch. 570, § 3, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-307 - Bonds; resolution for issuance; disposition of bond sale proceeds and investment earnings generally

(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
57-1-303
. 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, determine the appropriate method for sale of the bonds, advertise for and accept bids or negotiate the sale of the bonds, 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
57-1-307
through
57-1-335
shall not exceed One Hundred Fifteen Million Dollars ($115,000,000.00); provided, however, that an additional amount of bonds may be issued under Sections
57-1-307
and
57-1-335
in an amount not to exceed Thirteen Million Dollars ($13,000,000.00), and the proceeds of any such additional amount of bonds so issued shall be utilized solely to provide loans for capital improvements that would qualify for the issuance of bonds whose interest is exempt from income taxation under the provisions of the Internal Revenue Code.
(2)
Proceeds from the sale of bonds shall be deposited in the special fund created in Section
57-1-303
. Any investment earnings on amounts deposited into the special fund created in Section
57-1-303
shall be used to pay debt service on bonds issued under Sections
57-1-307
through
57-1-335
, in accordance with the proceedings authorizing issuance of such bonds.
Laws, 1994, ch. 570, § 4; Laws, 1997, ch. 534, § 3; Laws, 1999, ch. 577, § 1; Laws, 2000, ch. 584, § 1; Laws, 2005, ch. 497, § 6; Laws, 2009, ch. 557, § 14, eff. 4/17/2009.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-309 - Bonds; payment of principal and interest; details

The principal of and interest on the bonds authorized under Section
57-1-307
shall be payable in the manner provided in this section. Such bonds shall bear such date or dates, be in such denomination or denominations, bear interest at such rate or rates (not to exceed the limits set forth in Section
75-17-101
, Mississippi Code of 1972), be payable at such place or places within or without the State of Mississippi, shall mature absolutely at such time or times not to exceed twenty-five (25) years from date of issue, be redeemable before maturity at such time or times and upon such terms, with or without premium, shall bear such registration privileges, and shall be substantially in such form, all as shall be determined by resolution of the State Bond Commission.
Laws, 1994, ch. 570, § 5, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-311 - Bonds; execution

The bonds authorized by Section
57-1-307
shall be signed by the Chairman of the State Bond Commission, or by his facsimile signature, and the official seal of the commission shall be affixed thereto, attested by the Secretary of the State Bond Commission. The interest coupons, if any, to be attached to such bonds may be executed by the facsimile signatures of such officers. Whenever any such bonds shall have been signed by the officials designated to sign the bonds who were in office at the time of such signing but who may have ceased to be such officers before the sale and delivery of such bonds, or who may not have been in office on the date such bonds may bear, the signatures of such officers upon such bonds and coupons shall nevertheless be valid and sufficient for all purposes and have the same effect as if the person so officially signing such bonds had remained in office until their delivery to the purchaser, or had been in office on the date such bonds may bear. However, notwithstanding anything herein to the contrary, such bonds may be issued as provided in the Registered Bond Act of the State of Mississippi.
Laws, 1994, ch. 570, § 6, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-313 - Bonds; negotiability

All bonds and interest coupons issued under the provisions of Sections
57-1-307
through
57-1-335
have all the qualities and incidents of negotiable instruments under the provisions of the Uniform Commercial Code, and in exercising the powers granted by this chapter, the State Bond Commission shall not be required to and need not comply with the provisions of the Uniform Commercial Code.
Laws, 1994, ch. 570, § 7, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-315 - Bonds; issuance and sale; redemption

The State Bond Commission shall act as issuing agent for the bonds authorized under Section
57-1-307
, prescribe the form of the bonds, determine the appropriate method for sale of the bonds, advertise for and accept bids or negotiate the sale of the bonds, issue and sell the bonds so authorized to be sold, pay all fees and costs incurred in such issuance and sale, and do any and all other things necessary and advisable in connection with the issuance and sale of such bonds. The State Bond Commission is authorized and empowered to pay the costs that are incident to the sale, issuance and delivery of the bonds authorized under Sections
57-1-307
through
57-1-335
from the proceeds derived from the sale of such bonds. The State Bond Commission may sell such bonds on sealed bids at public sale or may negotiate the sale of the bonds for such price as it may determine to be for the best interest of the State of Mississippi. All interest accruing on such bonds so issued shall be payable semiannually or annually.
If such bonds are sold by sealed bids at public sale, notice of the sale shall be published at least one time, not less than ten (10) days before the date of sale, and shall be so published in one or more newspapers published or having a general circulation in the City of Jackson, Mississippi, selected by the commission.
The State Bond Commission, when issuing any bonds under the authority of Sections
57-1-307
through
57-1-335
, may provide that bonds, at the option of the State of Mississippi, may be called in for payment and redemption at the call price named therein and accrued interest on such date or dates named therein.
Laws, 1994, ch. 570, § 8; Laws, 2009, ch. 557, § 15, eff. 4/17/2009.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-317 - Bonds; general obligations of state

The bonds issued under the provisions of Sections
57-1-307
through
57-1-335
are general obligations of the State of Mississippi, and for the payment thereof the full faith and credit of the State of Mississippi is irrevocably pledged. If the funds appropriated by the Legislature are insufficient to pay the principal of and the interest on such bonds as they become due, then the deficiency shall be paid by the State Treasurer from any funds in the State Treasury not otherwise appropriated. All such bonds shall contain recitals on their faces substantially covering the provisions of this section.
Laws, 1994, ch. 570, § 9, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-319 - Bonds; disposition of proceeds of sale

Upon the issuance and sale of bonds under the provisions of Sections
57-1-307
through
57-1-335
, the State Bond Commission shall transfer the proceeds of any such sale or sales to the special fund created in Section
57-1-303
. 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.
Laws, 1994, ch. 570, § 10, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-321 - Bonds; conditions for issuance

The bonds authorized under Sections
57-1-307
through
57-1-335
may be issued without any other proceedings or the happening of any other conditions or things other than those proceedings, conditions and things which are specified or required by Sections
57-1-307
through
57-1-335
. Any resolution providing for the issuance of bonds under the provisions of Sections
57-1-307
through
57-1-335
shall become effective immediately upon its adoption by the State Bond Commission, and any such resolution may be adopted at any regular or special meeting of the State Bond Commission by a majority of its members.
Laws, 1994, ch. 570, § 11, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-323 - Bonds; validation

The bonds authorized under the authority of Sections
57-1-307
through
57-1-335
may be validated in the Chancery Court of the First Judicial District of Hinds County, Mississippi, in the manner and with the force and effect provided by Chapter 13, Title 31, Mississippi Code of 1972, for the validation of county, municipal, school district and other bonds. The notice to taxpayers required by such statutes shall be published in a newspaper published or having a general circulation in the City of Jackson, Mississippi.
Laws, 1994, ch. 570, § 12, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-325 - Bonds; protection and enforcement of rights of holders

Any holder of bonds issued under the provisions of Sections
57-1-307
through
57-1-335
or of any of the interest coupons pertaining thereto may, either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce any and all rights granted under Sections
57-1-307
through
57-1-335
, or under such resolution, and may enforce and compel performance of all duties required by Sections
57-1-307
through
57-1-335
to be performed, in order to provide for the payment of bonds and interest thereon.
Laws, 1994, ch. 570, § 13, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-327 - Bonds; legal investments and legal securities

All bonds issued under the provisions of Sections
57-1-307
through
57-1-335
shall be legal investments for trustees and other fiduciaries, and for 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 this state and all municipalities and political subdivisions for the purpose of securing the deposit of public funds.
Laws, 1994, ch. 570, § 14, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-329 - Bonds; exemption from taxation

Bonds issued under the provisions of Sections
57-1-307
through
57-1-335
and income therefrom shall be exempt from all taxation in the State of Mississippi.
Laws, 1994, ch. 570, § 15, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-331 - Bonds; use of proceeds

The proceeds of the bonds issued under Sections
57-1-307
through
57-1-335
shall be used solely for the purposes herein provided, including the costs incident to the issuance and sale of such bonds.
Laws, 1994, ch. 570, § 16, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-333 - Bonds; issuance of warrants for payment

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
57-1-307
through
57-1-335
; 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.
Laws, 1994, ch. 570, § 17, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › LOCAL GOVERNMENTS CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM (§§ 57-1-301 — 57-1-335) › Section 57-1-335 - Construction of Sections 57-1-307 through 57-1-335

Sections
57-1-307
through
57-1-335
shall be deemed to be full and complete authority for the exercise of the powers herein granted, but Sections
57-1-307
through
57-1-335
shall not be deemed to repeal or to be in derogation of any existing law of this state.
Laws, 1994, ch. 570, § 18, eff. 4/7/1994.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › PROJECT COUGAR SITING PROPOSAL AND AUTHORITY (§ 57-1-351) › Section 57-1-351 - through 57-1-369 - [Repealed]

Repealed byLaws, 1998, ch. 301, § 11, eff. 7/1/1999.
Added byLaws, 1998, ch. 301, §§ 1 through 10, eff. 2/9/1998.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › PENALTIES UNDER CERTAIN PROGRAMS ADMINISTERED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY FOR ENTITIES THAT ARE CONVICTED OF HIRING ILLEGAL IMMIGRANTS (§§ 57-1-371 — 57-1-373) › Section 57-1-371 - Ineligibility for loans or grants under Sections 1 through 57 of Chapter 1, Laws of 2005, Third Extraordinary Session, of entities that are convicted of hiring illegal immigrants; repayment of assistance received under Sections 1 through 57 of Chapter 1, Laws of 2005, Third Extraordinary Session, by entities that are convicted of hiring illegal immigrants

Any business, enterprise or other entity that is criminally convicted by a court of competent jurisdiction of intentionally hiring illegal immigrants shall be ineligible to receive any loan, grant or other form of assistance made available under Sections 1 through 57 of Chapter 1, Laws of 2005, Third Extraordinary Session. Any business, enterprise or other entity that receives any loan, grant or other form of assistance made available under Sections 1 through 57 of Chapter 1, Laws of 2005, Third Extraordinary Session, and is criminally convicted by a court of competent jurisdiction of intentionally hiring illegal immigrants shall repay the full amount of such loan, grant or other form of assistance.
Laws, 2005, 3rd Ex Sess, ch. 1, § 60, eff. 7/1/2005.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › PENALTIES UNDER CERTAIN PROGRAMS ADMINISTERED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY FOR ENTITIES THAT ARE CONVICTED OF HIRING ILLEGAL IMMIGRANTS (§§ 57-1-371 — 57-1-373) › Section 57-1-373 - Ineligibility for certain forms of assistance under Sections 1 through 7 of Chapter 2, Laws of 2006, First Extraordinary Session, of entities that are convicted of hiring illegal immigrants; repayment of assistance received under Sections 1 through 7 of Chapter 2, Laws of 2006, First Extraordinary Session, by entities that are convicted of hiring illegal immigrants

(1)
No business, enterprise or other entity that is, or has ever been, criminally convicted by a court of competent jurisdiction of intentionally hiring illegal immigrants that develops or is located in a "project" as defined in Section
57-75-5(f)(xx)
shall be eligible to receive:
(a)
Any funds provided or derived from the issuance of any bonds under Sections 1 through 7 of Chapter 2, Laws of 2006, First Extraordinary Session.
(b)
Any loan, grant or other form of assistance that may be made available under Sections 1 through 7 of Chapter 2, Laws of 2006, First Extraordinary Session; or
(c)
Any funds, tax credit or other form of assistance that may be made available as an incentive payment under Sections 1 through 7 of Chapter 2, Laws of 2006, First Extraordinary Session.
(2)
If a business, enterprise or other entity that develops or is located in a "project" as defined in Section
57-75-5(f)(xx)
has received funds or assistance as described in paragraphs (a) through (c) of subsection (1) of this section, and thereafter is convicted by a court of competent jurisdiction of intentionally hiring illegal immigrants, then the business, enterprise or other entity shall repay the full amount of the funds or assistance received. The repayment shall be certified by the State Treasurer, who shall deposit such amounts into the specific special fund in the State Treasury from which the funds were awarded, or, in the case of incentive payments under Sections
57-28-1
through
57-28-5
, into the State General Fund.
Laws, 2006, 1st Ex Sess, ch. 2, § 8, eff. 9/13/2006.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › MISSISSIPPI DEVELOPMENT AUTHORITY WORKFORCE TRAINING FUND (§ 57-1-401) › Section 57-1-401 - Mississippi Development Authority Workforce Training Fund created; use of funds

(1)
A special fund, to be designated as the "Mississippi Development Authority Workforce Training Fund," is created within the State Treasury into which shall be deposited money from any source that is designated for deposit therein. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. 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 or investment earnings on amounts in the fund shall be deposited into such fund.
(2)
All money deposited into the Mississippi Development Authority Workforce Training Fund shall be disbursed by the Mississippi Development Authority to provide workforce training through state institutions of higher learning, community and junior colleges, and Workforce Investment Network job centers to meet workforce training needs not met by other resources. Employers may request training for existing employees and/or newly hired employees from the Mississippi Development Authority. The Mississippi Development Authority shall establish criteria for utilization of the money in the fund and be responsible for approving the training.
Laws, 2010, 2nd Ex Sess, ch. 30, § 1, eff. 9/3/2010.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › MISSISSIPPI DEVELOPMENT AUTHORITY JOB TRAINING GRANT FUND (§ 57-1-451) › Section 57-1-451 - [Repealed]

Repealed by Laws, 2021, ch. 472, HB 109,§ 13, eff. 5/19/2021.
Added by Laws, 2013, ch. 447, HB 117, 1, eff. 7/1/2013.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › ECONOMIC DEVELOPMENT AND INFRASTRUCTURE FUND (§ 57-1-501) › Section 57-1-501 - Economic Development and Infrastructure Fund created; purpose; use of funds

(1)
There is created in the State Treasury a special fund to be designated as the "Economic Development and Infrastructure Fund." The special fund shall consist of monies deposited into the fund from any source that is 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 interest earned or investment earnings on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used by the Mississippi Development Authority for the purposes authorized in subsection (2) of this section.
(2)
(a)
The Mississippi Development Authority shall establish a program to provide grants (i) to assist with construction and repair of infrastructure in counties in this state where legal gaming is being conducted or is authorized and for structures designed to promote the gaming and entertainment industry in such counties, and (ii) to aid in increasing commercial air service at existing commercial service airports in counties in this state in which legal gaming is being conducted or is authorized by offering to assist Part 121 carriers through the following air service development methods: revenue guaranty, seat guaranty, seat cost mitigation, ground handling and marketing.
(b)
The Mississippi Development Authority shall establish a procedure for accepting and reviewing applications for grants under this section.
(c)
If funds are available in the fund created under this section, not less than Two Million Five Hundred Thousand Dollars ($2,500,000.00) shall be used annually for grants provided for under paragraph (a)(ii) of this subsection (2). Thereafter, the funds may be used for grants provided for under paragraph (a)(i) of this subsection (2).
(3)
The Mississippi Development Authority shall have all powers necessary to implement and administer the program established under this section, and the Mississippi Development Authority shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.
Added by Laws, 2016, ch. 497, HB 1074, 1, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › TRIPLE CROWN PROJECT FUND (§ 57-1-651) › Section 57-1-651 - Triple Crown Project Fund created; purpose; use of monies; annual report

(1)
There is created a special fund in the State Treasury to be known as the "Triple Crown Project 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 flat-rolled aluminum production facilities, biocarbon production facilities, certain other industrial facilities and related port improvement projects as defined in Section
57-75-5(f)(xxxi)
.
(b)
In addition to the purpose in subsection (2) of this section, 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 the number and amount of grants and loans disbursed from the Triple Crown Project Fund, including an accounting of the actual costs and expenses incurred by the Mississippi Development authority. 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.
Added by Laws, 2022EX1, ch. 2, SB 2001,§ 1, eff. 11/17/2022.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 1 - MISSISSIPPI DEVELOPMENT AUTHORITY (§§ 57-NEW-001 — 57-1-783) › MISSISSIPPI SITE DEVELOPMENT GRANT FUND (§§ 57-1-701 — 57-1-703) › Section 57-1-703 - MDA Site Development Grant Program Fund created; funding sources; purpose

There is created in the State Treasury a special fund to be designated as the "MDA Site Development Grant Program Fund," which shall consist of funds made available by the Legislature in any manner and funds from any other source designated for deposit into the fund. Monies in the fund shall be used by the Mississippi Development Authority, upon appropriation by the Legislature, to make grants to assist eligible entities under the Mississippi Site Development Grant Program as provided in Section
57-1-701
. 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.
Amended by Laws, 2021, ch. 472, HB 109,§ 10, eff. 4/19/2021.