reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 7 - MISSISSIPPI SMALL BUSINESS FINANCING ACT (§§ 57-10-201 — 57-10-261) › Section 57-10-249 - Contracts with bondholders

The company shall have the power to contract with the holders of any of its bonds as to the custody, collection, securing, investment and payment of any money of the company, and of any money held in trust or otherwise for the payment of bonds, and to carry out such contract. Money held in trust or otherwise for the payment of bonds or in any way to secure bonds and deposits of money may be secured in the same manner as money of the company, and all banks and trust companies are authorized to give security for the deposits.
Laws, 1985, ch. 450, § 25, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 7 - MISSISSIPPI SMALL BUSINESS FINANCING ACT (§§ 57-10-201 — 57-10-261) › Section 57-10-251 - Effect of future amendments to article

Subsequent amendments to this article shall not limit the rights vested in the company with respect to any agreements made with, or remedies available to, the holders of bonds issued under this article prior to the enactment of the amendments until the bonds, together with all interest thereon, and all costs and expenses in connection with any proceeding by or on behalf of the holders, are fully met and discharged.
Laws, 1985, ch. 450, § 26, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 7 - MISSISSIPPI SMALL BUSINESS FINANCING ACT (§§ 57-10-201 — 57-10-261) › Section 57-10-253 - Expenses

All expenses incurred by the company in carrying out the provisions of this article shall be payable solely from funds provided under this article, and nothing in this article shall be construed to authorize the company to incur indebtedness or liability on behalf of or payable by the state or any other political subdivision thereof.
Laws, 1985, ch. 450, § 27, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 7 - MISSISSIPPI SMALL BUSINESS FINANCING ACT (§§ 57-10-201 — 57-10-261) › Section 57-10-255 - Tax-exempt status of company; state's right to remaining assets upon dissolution; mortgages, leases, etc., tax-exempt; time limit on ad valorem tax exemption; new ad valorem tax exemptions where tax levied for school district purposes

(1)
The company is hereby declared to be performing a public function and to be a public body corporate and a political subdivision of the state. Accordingly, the income, including any profit made on the sale thereof from all bonds issued by the company, shall at all times be exempt from all taxation by the state or any public subdivision thereof. If, after all indebtedness and other obligations of the company are discharged the company is dissolved, its remaining assets shall inure to the benefit of the state.
(2)
All mortgages or deeds of trust executed as security therefor, all lease, loan or purchase agreements made pursuant to the provisions hereof, all purchases required to establish the enterprise and financed by proceeds from bonds issued pursuant to Chapter 10, Title 57, Mississippi Code of 1972, shall likewise be exempt from all taxation in the State of Mississippi except the contractors' tax imposed by Section
27-65-21
and the taxes levied by Section
27-65-24(1)(b)
, and all projects financed by the proceeds from such bonds and the revenue derived from any lease thereof shall be exempt from all taxation in the State of Mississippi, except the tax levied by Sections
27-65-21
and
27-65-24(1)(b)
, and except the tax levied under Chapter 7, Title 27, Mississippi Code of 1972. From and after July 1, 2002, there shall be no new ad valorem tax exemption authorized under this section unless approved by the appropriate local taxing authority.
(3)
The time of any ad valorem tax exemption provided for hereunder shall not exceed a total of ten (10) years, which shall run from the date of the completion of the project. In no event shall the term of the ad valorem tax exemption provided for hereunder be limited, terminated or otherwise affected by payment in full of the bonds issued under this chapter or by the change from a leasehold to a fee title in the enterprise financed with bonds issued under this chapter.
(4)
From and after July 1, 1990, there shall be no new exemption under this section from ad valorem taxes levied for school district purposes.
Laws, 1985, ch. 450, § 28; Laws, 1987, ch. 464, § 5; Laws, 1990 Ex Sess, ch. 71, § 16; Laws, 1992, ch. 518, § 5; Laws, 1995, ch. 355, § 3; Laws, 2002, ch. 498, § 1; Laws, 2010, ch. 449, § 7, eff. 7/1/2010.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 7 - MISSISSIPPI SMALL BUSINESS FINANCING ACT (§§ 57-10-201 — 57-10-261) › Section 57-10-257 - Investment in bonds; bonds as security for deposits

The bonds issued by and under the authority of this article by the company are declared to be legal investments in which all public officers or public bodies of the state, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations, and other persons carrying on insurance business, all banks, bankers, banking associations, trust companies, savings associations, including savings and loan associations, building and loan associations, investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons who are now or may later be authorized to invest in bonds or in other obligations of the state, may invest funds, including capital, in their control or belonging to them. Such bonds are also hereby made securities which may be deposited with and received by all public officers and bodies of the state or any agency or political subdivision of the state and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the state is now or may be later authorized by law.
Laws, 1985, ch. 450, § 29, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 7 - MISSISSIPPI SMALL BUSINESS FINANCING ACT (§§ 57-10-201 — 57-10-261) › Section 57-10-259 - Annual report

The company shall, within one hundred twenty (120) days of the close of each fiscal year, submit an annual report of its activities for the preceding year to the Governor. The clerk of each house of the Legislature shall receive a copy of the report by making a request for it to the company. Each report shall set forth a complete operating and financial statement for the company during the fiscal year it covers.
Laws, 1985, ch. 450, § 30, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 7 - MISSISSIPPI SMALL BUSINESS FINANCING ACT (§§ 57-10-201 — 57-10-261) › Section 57-10-261 - Construction of article

Nothing contained in this article is to be construed as a restriction or limitation upon any powers which the company might otherwise have under any other law of the state. Insofar as the provisions of this article are inconsistent with the provisions of any other law, the provisions of this article shall be controlling, and the powers conferred by this article shall be regarded as supplemental and additional to powers conferred by any other laws. No proceedings, notice or approval shall be required for the issuance of any bonds or any instrument or the security therefor, except as provided in this article.
The provisions of this article shall be liberally construed to accomplish the purposes of this article.
The powers granted and the duties imposed in this article shall be construed to be independent and severable. If any one or more sections, subsections, sentences or parts of any of this article shall be adjudged unconstitutional or invalid, such adjudication shall not affect, impair or invalidate the remaining provisions thereof, but shall be confined in its operation to the specific provisions so held unconstitutional or invalid.
Laws, 1985, ch. 450, § 31, eff. 7/1/1985.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 9 - MISSISSIPPI BUSINESS FINANCE CORPORATION BEGINNING FARMER PROGRAM (§§ 57-10-301 — 57-10-309) › Section 57-10-301 - Short title

This article shall be entitled the "Mississippi Business Finance Corporation Beginning Farmer Program."
Laws, 1992, ch. 461, § 1, eff. 5/5/1992.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 9 - MISSISSIPPI BUSINESS FINANCE CORPORATION BEGINNING FARMER PROGRAM (§§ 57-10-301 — 57-10-309) › Section 57-10-305 - Legislative findings and determinations

The Legislature finds and determines as follows:
(a)
There exists a serious problem in the state regarding the ability of nonestablished farmers to acquire agricultural land and agricultural improvements and depreciable agricultural property in order to enter farming.
(b)
This barrier to entry into farming is conducive to consolidation of acreage of agricultural land with fewer individuals resulting in a grave threat to the traditional family farm.
(c)
These conditions result in a loss in population, unemployment and a movement of persons from rural communities to urban areas accompanied by added costs to communities for creation of new public facilities and services.
(d)
One major cause of this condition has been recurrent shortages of funds in private channels and the high interest cost of borrowing.
(e)
These shortages and costs have made the sale and purchase of agricultural land to beginning farmers a virtual impossibility in many parts of the state.
(f)
The ordinary operations of private enterprise have not in the past corrected these conditions.
(g)
A stable supply of adequate funds for agricultural financing is required to encourage beginning farmers in an orderly and sustained manner and to reduce the problems described in this section.
(h)
It is necessary that the corporation be given the authority to encourage ownership of farms by beginning farmers by providing purchase money loans to beginning farmers who are not able to obtain adequate capital elsewhere to provide such funds and to lower costs through the use of public financing.
Laws, 1992, ch. 461, § 3, eff. 5/5/1992.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-403 - [Repealed effective 10/1/2025] Legislative findings and declarations

(1)
The Legislature finds and declares that the general welfare and material well-being of citizens of the state depend in large measure upon the development and growth of industry in the state.
(2)
The Legislature finds and declares further that it is in the best interest of the state to induce the location or expansion of manufacturing facilities within this state in order to advance the public purposes of relieving unemployment by creating new jobs within this state that, but for the inducements to be offered by the corporation to approved companies as herein provided, would not exist, and of creating new sources of tax revenues for the support of the public services provided by this state and country.
(3)
The Legislature finds and declares further that the authority granted by this article and the purposes to be accomplished hereby are proper governmental and public purposes for which public monies may be expended, and that the inducement of the location or expansion of manufacturing facilities within the state is of paramount importance, mandating that the provisions of this article be liberally construed and applied in order to advance the public purposes.
Laws, 1993, ch. 565, § 2; reenacted without change, Laws, 1997, ch. 576, § 2; reenacted without change, Laws, 2000, ch. 425, § 2; reenacted without change, Laws, 2001, ch. 337, § 2; reenacted without change, Laws, 2005, ch. 399, § 2; reenacted without change, Laws, 2007, ch. 389, § 2; reenacted without change, Laws, 2011, ch. 519, § 2, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 2, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 2, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 2, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-407 - [Repealed effective 10/1/2025] Power of corporation to accept and expend monies

The corporation may accept and expend:
(a)
monies which may be appropriated from time to time by the Legislature;
(b)
monies which may be available under the Mississippi Small Enterprise Development Finance Act; or
(c)
monies which may be received from any source, including income from the corporation's operations, under Sections
57-10-401
through
57-10-445
, for effectuating the purposes of Sections
57-10-401
through
57-10-445
, including, without limitation, the payment of the expenses of administration and operation incurred pursuant to Sections
57-10-401
through
57-10-445
and the establishment and, if deemed desirable, maintenance of a reserve or contingency fund for the administration of Sections
57-10-401
through
57-10-445
.
Laws, 1993, ch. 565, § 4; reenacted without change, Laws, 1997, ch. 576, § 4; reenacted without change, Laws, 2000, ch. 425, § 4; reenacted without change, Laws, 2001, ch. 337, § 4; reenacted without change, Laws, 2005, ch. 399, § 4; reenacted without change, Laws, 2007, ch. 389, § 4; reenacted without change, Laws, 2011, ch. 519, § 4, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 4, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 4, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 4, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-411 - [Repealed effective 10/1/2025] Certification of company's state income tax liability and amount of tax credits

Ninety (90) days after the filing of the tax return of the approved company, the Department of Revenue shall certify to the corporation the state income tax liability for the preceding year of each approved company with respect to an economic development project financed under Sections
57-10-401
through
57-10-445
, and the amounts of any tax credits taken under Sections
57-10-401
through
57-10-445
.
Laws, 1993, ch. 565, § 6; reenacted without change, Laws, 1997, ch. 576, § 6; reenacted without change, Laws, 2000, ch. 425, § 6; reenacted without change, Laws, 2001, ch. 337, § 6; reenacted without change, Laws, 2005, ch. 399, § 6; reenacted without change, Laws, 2007, ch. 389, § 6; reenacted without change, Laws, 2011, ch. 519, § 6, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 6, eff. 7/1/2022.
Reenacted and amended by Laws, 2017, ch. 325, SB 2474, 6, eff. 7/1/2017.
Reenacted and amended by Laws, 2015, ch. 398, SB 2658, 6, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-415 - [Repealed effective 10/1/2025] Payment of revenue bonds; security

Every issue of bonds under Sections
57-10-401
through
57-10-445
shall be payable solely out of any revenues of the corporation as provided in Sections
57-10-401
through
57-10-445
. The bonds additionally may be secured by a pledge of any grant, contribution or guarantee from the federal government or any person or a pledge by the corporation of any revenues from any source.
Laws, 1993, ch. 565, § 8; reenacted without change, Laws, 1997, ch. 576, § 8; reenacted without change, Laws, 2000, ch. 425, § 8; reenacted without change, Laws, 2001, ch. 337, § 8; reenacted without change, Laws, 2005, ch. 399, § 8; reenacted without change, Laws, 2007, ch. 389, § 8; reenacted without change, Laws, 2011, ch. 519, § 8, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 8, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 8, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 8, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-417 - [Repealed effective 10/1/2025] Bonds as limited obligation of corporation; personal liability of member or officer of corporate board

The bonds issued by the corporation under Sections
57-10-401
through
57-10-445
shall be limited obligations of the corporation and shall not constitute a debt, liability or general obligation of the state or any political subdivision thereof (other than the corporation), or a pledge of the faith and credit of the state or any political subdivision thereof (other than the corporation), but shall be payable solely as provided by the corporation under Sections
57-10-401
through
57-10-445
. No member or officer of the board of directors of the corporation nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof. Each bond issued under Sections
57-10-401
through
57-10-445
shall contain on the face thereof a statement that neither the state, nor any other political subdivision thereof, shall be obligated to pay the same or the interest thereon or other costs incident thereto except from the revenue or money pledged by the corporation and that neither the faith and credit nor the taxing power of the state or any political subdivision thereof is pledged to the payment of the principal of, or the interest on, such bond.
Laws, 1993, ch. 565, § 9; reenacted without change, Laws, 1997, ch. 576, § 9; reenacted without change, Laws, 2000, ch. 425, § 9; reenacted without change, Laws, 2001, ch. 337, § 9; reenacted without change, Laws, 2005, ch. 399, § 9; reenacted without change, Laws, 2007, ch. 389, § 9; reenacted without change, Laws, 2011, ch. 519, § 9, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 9, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 9, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 9, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-423 - [Repealed effective 10/1/2025] Pledge made by corporation; recording of resolution or other instrument

Any pledge made by the corporation shall be valid and binding from the time when the pledge was made. The revenues or properties so pledged and thereafter received by the corporation shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the corporation, irrespective of whether the parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be recorded.
Laws, 1993, ch. 565, § 12; reenacted without change, Laws, 1997, ch. 576, § 12; reenacted without change, Laws, 2000, ch. 425, § 12; reenacted without change, Laws, 2001, ch. 337, § 12; reenacted without change, Laws, 2005, ch. 399, § 12; reenacted without change, Laws, 2007, ch. 389, § 12; reenacted without change, Laws, 2011, ch. 519, § 12, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 12, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 12, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 12, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-425 - [Repealed effective 10/1/2025] Purchase of bonds by corporation

The corporation, subject to the provisions in proceedings relating to outstanding bonds as may then exist, may purchase bonds out of any funds available therefor, which shall thereupon be canceled, at any reasonable price which, if the bonds are then redeemable, shall not exceed the redemption price (and premium, if any) then applicable plus accrued interest to the redemption date thereof.
Laws, 1993, ch. 565, § 13; reenacted without change, Laws, 1997, ch. 576, § 13; reenacted without change, Laws, 2000, ch. 425, § 13; reenacted without change, Laws, 2001, ch. 337, § 13; reenacted without change, Laws, 2005, ch. 399, § 13; reenacted without change, Laws, 2007, ch. 389, § 13; reenacted without change, Laws, 2011, ch. 519, § 13, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 13, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 13, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 13, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-427 - [Repealed effective 10/1/2025] Trust indentures

The bonds may be secured by an indenture by and between the corporation and a corporate trustee which may be any bank or other corporation having the power of a trust company or any trust company within or without this state. Such indenture may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the corporation in relation to the exercise of its powers and the custody, safekeeping and application of all money. The corporation may provide by the indenture for the payment of the proceeds of the bonds and revenues to the trustee under the indenture or other depository, and for the method of disbursement thereof, with such safeguards and restrictions as the corporation may determine. If the bonds shall be secured by an indenture, the bondholders shall have no authority to appoint a separate trustee to represent them.
Laws, 1993, ch. 565, § 14; reenacted without change, Laws, 1997, ch. 576, § 14; reenacted without change, Laws, 2000, ch. 425, § 14; reenacted without change, Laws, 2001, ch. 337, § 14; reenacted without change, Laws, 2005, ch. 399, § 14; reenacted without change, Laws, 2007, ch. 389, § 14; reenacted without change, Laws, 2011, ch. 519, § 14, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 14, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 14, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 14, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-429 - [Repealed effective 10/1/2025] Signatures on bonds

In the event that any of the members or officers of the board of directors of the corporation shall cease to be members or officers of the board prior to the delivery of any bonds signed by them, their signatures or facsimiles thereof shall nevertheless be valid and sufficient for all purposes, the same as if such members or officers had remained in office until such delivery.
Laws, 1993, ch. 565, § 15; reenacted without change, Laws, 1997, ch. 576, § 15; reenacted without change, Laws, 2000, ch. 425, § 15; reenacted without change, Laws, 2001, ch. 337, § 15; reenacted without change, Laws, 2005, ch. 399, § 15; reenacted without change, Laws, 2007, ch. 389, § 15; reenacted without change, Laws, 2011, ch. 519, § 15, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 15, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 15, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 15, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-431 - [Repealed effective 10/1/2025] Establishment of funds and accounts

The corporation may create and establish such funds and accounts as may be necessary or desirable for its purposes under Sections
57-10-401
through
57-10-445
.
Laws, 1993, ch. 565, § 16; reenacted without change, Laws, 1997, ch. 576, § 16; reenacted without change, Laws, 2000, ch. 425, § 16; reenacted without change, Laws, 2001, ch. 337, § 16; reenacted without change, Laws, 2005, ch. 399, § 16; reenacted without change, Laws, 2007, ch. 389, § 16; reenacted without change, Laws, 2011, ch. 519, § 16, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 16, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 16, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 16, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-433 - [Repealed effective 10/1/2025] Contracts with bondholders; securing of moneys held for payment of bonds

The corporation shall have the power to contract with the holders of any of its bonds issued under Sections
57-10-401
through
57-10-445
as to the custody, collection, securing, investment and payment of any money of the corporation, and of any money held in trust or otherwise for the payment of bonds, and to carry out such contract. Money held in trust or otherwise for the payment of bonds or in any way to secure bonds and deposits of money may be secured in the same manner as money of the corporation, and all banks and trust companies are authorized to give security for the deposits.
Laws, 1993, ch. 565, § 17; reenacted without change, Laws, 1997, ch. 576, § 17; reenacted without change, Laws, 2000, ch. 425, § 17; reenacted without change, Laws, 2001, ch. 337, § 17; reenacted without change, Laws, 2005, ch. 399, § 17; reenacted without change, Laws, 2007, ch. 389, § 17; reenacted without change, Laws, 2011, ch. 519, § 17, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 17, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 17, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 17, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-435 - [Repealed effective 10/1/2025] Effect of amendments to Sections 57-10-401 through 57-10-445 enacted after July 1, 1993

Amendments to Sections
57-10-401
through
57-10-445
, enacted after July 1, 1993, shall not limit the rights vested in the corporation with respect to any agreements made with, or remedies available to, the holders of bonds issued under this article or Section
27-7-22.3
prior to the enactment of the amendments until the bonds, together with all interest thereon, and all costs and expenses in connection with any proceeding by or on behalf of the holders, are fully met and discharged.
Laws, 1993, ch. 565, § 18; reenacted without change, Laws, 1997, ch. 576, § 18; reenacted without change, Laws, 2000, ch. 425, § 18; reenacted without change, Laws, 2001, ch. 337, § 18; reenacted without change, Laws, 2005, ch. 399, § 18; reenacted without change, Laws, 2007, ch. 389, § 18; reenacted without change, Laws, 2011, ch. 519, § 18, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 18, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 18, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 18, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-437 - [Repealed effective 10/1/2025] Payment of expenses of corporation; limitation on liability

All expenses incurred by the corporation in carrying out the provisions of Sections
57-10-401
through
57-10-445
shall be payable solely from funds provided under Sections
57-10-401
through
57-10-445
, or other funds of the corporation. Nothing in Sections
57-10-401
through
57-10-445
shall be construed to authorize the corporation to incur indebtedness or liability on behalf of or payable by the state or any other political subdivision thereof.
Laws, 1993, ch. 565, § 19; reenacted without change, Laws, 1997, ch. 576, § 19; reenacted without change, Laws, 2000, ch. 425, § 19; reenacted without change, Laws, 2001, ch. 337, § 19; reenacted without change, Laws, 2005, ch. 399, § 19; reenacted without change, Laws, 2007, ch. 389, § 19; reenacted without change, Laws, 2011, ch. 519, § 19, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 19, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 19, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 19, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-439 - [Repealed effective 10/1/2025] Exemption from taxation of income, profits, revenues, bonds, mortgages, deeds of trust and other agreements of corporation

(1)
The corporation is hereby declared to be performing a public function and to be a public body corporate and a political subdivision of the state. Accordingly, the income, including any profit made on the sale thereof from all bonds issued by the corporation, shall at all times be exempt from all taxation by the state or any political subdivision thereof. If, after all indebtedness and other obligations of the corporation are discharged, the corporation is dissolved, its remaining assets shall inure to the benefit of the state.
(2)
With the approval of the appropriate local taxing authority, all mortgages or deeds of trust executed as security therefor, all lease or purchase agreements made pursuant to the provisions hereof, and all purchases required to establish the industrial enterprise and financed by proceeds from bonds issued under Sections
57-10-401
through
57-10-445
, shall likewise be exempt from all taxation in the State of Mississippi except the contractors' tax imposed by Section
27-65-21
and the tax levied by Section
27-65-24(1)(b)
, and except ad valorem taxes levied for school district purposes. All projects and the revenue derived therefrom from any lease thereof shall be exempt from all taxation in the State of Mississippi, except the tax levied by Sections
27-65-21
and
27-65-24(1)(b)
, except the tax levied under Chapter 7, Title 27, Mississippi Code of 1972, and except ad valorem taxes levied for school district purposes.
Laws, 1993, ch. 565, § 20; Laws, 1994, ch. 525, § 5; reenacted without change, Laws, 1997, ch. 576, § 20; reenacted without change, Laws, 2000, ch. 425, § 20; reenacted without change, Laws, 2001, ch. 337, § 20; reenacted without change, Laws, 2005, ch. 399, § 20; reenacted without change, Laws, 2007, ch. 389, § 20; Laws, 2010, ch. 449, § 8; reenacted without change, Laws, 2011, ch. 519, § 20, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 20, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 20, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 20, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-441 - [Repealed effective 10/1/2025] Investment in bonds; bonds as security for deposits

The bonds issued by and under the authority of Sections
57-10-401
through
57-10-445
by the corporation are declared to be legal investments in which all public officers or public bodies of the state, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations, and other persons carrying on insurance business, all banks, bankers, banking associations, trust companies, savings associations, including savings and loan associations, building and loan associations, investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons who are now or may later be authorized to invest in bonds or in other obligations of the state, may invest funds, including capital, in their control or belonging to them. Such bonds are also hereby made securities which may be deposited with and received by all public officers and bodies of the state or any agency or political subdivision of the state and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the state is now or may be later authorized by law.
Laws, 1993, ch. 565, § 21; reenacted without change, Laws, 1997, ch. 576, § 21; reenacted without change, Laws, 2000, ch. 425, § 21; reenacted without change, Laws, 2001, ch. 337, § 21; reenacted without change, Laws, 2005, ch. 399, § 21; reenacted without change, Laws, 2007, ch. 389, § 21; reenacted without change, Laws, 2011, ch. 519, § 21, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 21, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 21, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 21, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-443 - [Repealed effective 10/1/2025] Annual report of corporation

The corporation, within one hundred twenty (120) days of the close of each fiscal year, shall submit an annual report of its activities in regard to Sections
57-10-401
through
57-10-445
for the preceding year to the Governor. The Clerk of the House of Representatives and the Secretary of the Senate each shall receive a copy of the report by making a request for it to the corporation. Each report shall set forth a complete operating and financial statement in regard to Sections
57-10-401
through
57-10-445
for the corporation during the fiscal year it covers.
Laws, 1993, ch. 565, § 22; reenacted without change, Laws, 1997, ch. 576, § 22; reenacted without change, Laws, 2000, ch. 425, § 22; reenacted without change, Laws, 2001, ch. 337, § 22; reenacted without change, Laws, 2005, ch. 399, § 22; reenacted without change, Laws, 2007, ch. 389, § 22; reenacted without change, Laws, 2011, ch. 519, § 22, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 22, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 22, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 22, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-445 - [Repealed effective 10/1/2025] Construction of Sections 57-10-401 through 57-10-445

The corporation, within one hundred twenty (120) days of the close of each fiscal year, shall submit an annual report of its activities in regard to Sections
57-10-401
through
57-10-445
for the preceding year to the Governor. The Clerk of the House of Representatives and the Secretary of the Senate each shall receive a copy of the report by making a request for it to the corporation. Each report shall set forth a complete operating and financial statement in regard to Sections
57-10-401
through
57-10-445
for the corporation during the fiscal year it covers.
Laws, 1993, ch. 565, § 23; reenacted without change, Laws, 1997, ch. 576, § 23; reenacted without change, Laws, 2000, ch. 425, § 23; reenacted without change, Laws, 2001, ch. 337, § 23; reenacted without change, Laws, 2005, ch. 399, § 23; reenacted without change, Laws, 2007, ch. 389, § 23; reenacted without change, Laws, 2011, ch. 519, § 23, eff. 7/1/2011.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 23, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 23, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 23, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-447 - [Repealed effective 10/1/2025] Deriving of pecuniary benefit or income by public official, member of Legislature, or partner or associate or family member of legislator

No elected or appointed official shall derive any pecuniary benefit, directly or indirectly, as a result of such elected or appointed official's duties under Sections
57-10-401
through
57-10-445
. Any member of the Legislature, any elected or appointed official, any member of the immediate family of a member of the Legislature, or any partner or associate of such a member of the Legislature or elected or appointed official, shall not derive any income from the issuance of any bonds under Sections
57-10-401
through
57-10-445
, contrary to the provisions of Section 109, Mississippi Constitution of 1890, or Article 3, Chapter 4, Title 25, Mississippi Code of 1972. The provisions of this section shall not apply to any person performing clerical or administrative functions, which are other than legal services provided by an attorney, that are associated with the issuance of any bonds under Sections
57-10-401
through
57-10-445
, such as the printing of bonds or other materials. Any person convicted of a violation of this section shall be punished by imprisonment for not less than one (1) year and not more than five (5) years and a fine of not less than Two Thousand Five Hundred Dollars ($2,500.00) and not more than Ten Thousand Dollars ($10,000.00).
Laws, 1993, ch. 565, § 28, eff. 7/1/1993.
Reenacted without change by Laws, 2022, ch. 381, SB 2846,§ 24, eff. 7/1/2022.
Reenacted without change by Laws, 2017, ch. 325, SB 2474, 24, eff. 7/1/2017.
Reenacted without change by Laws, 2015, ch. 398, SB 2658, 24, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 11 - BONDS TO FINANCE ECONOMIC DEVELOPMENT PROJECTS (§§ 57-10-401 — 57-10-449) › Section 57-10-449 - Repeal of Sections 57-10-401 through 57-10-447 and 27-7-22.3

Sections
57-10-401
through
57-10-447
and
27-7-22.3
shall be repealed from and after October 1, 2025.
Laws, 1993, ch. 565, § 29; Laws, 1996, ch. 553, § 7; Laws, 1997, ch. 576, § 26; Laws, 2000, ch. 425, § 25; Laws, 2001, ch. 337, § 25; reenacted and amended, Laws, 2005, ch. 399, § 25; Laws, 2007, ch. 389, § 25; Laws, 2011, ch. 519, § 25, eff. 7/1/2011.
Amended by Laws, 2022, ch. 381, SB 2846,§ 26, eff. 7/1/2022.
Amended by Laws, 2017, ch. 325, SB 2474, 26, eff. 7/1/2017.
Amended by Laws, 2015, ch. 398, SB 2658, 26, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 13 - MISSISSIPPI SMALL BUSINESS ASSISTANCE ACT (§§ 57-10-501 — 57-10-533) › Section 57-10-501 - Short title

This article shall be known and may be cited as the Mississippi Small Business Assistance Act.
Laws, 1993, ch. 566, § 1, eff. 4/19/1993.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 13 - MISSISSIPPI SMALL BUSINESS ASSISTANCE ACT (§§ 57-10-501 — 57-10-533) › Section 57-10-503 - Purpose

It is the purpose of this article to promote economic and community development in the State of Mississippi through the planning and development districts in Mississippi by providing assistance for job creation and retention and small business development and to authorize the issuance of state bonds or notes for funding such assistance.
Laws, 1993, ch. 566, § 2, eff. 4/19/1993.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 13 - MISSISSIPPI SMALL BUSINESS ASSISTANCE ACT (§§ 57-10-501 — 57-10-533) › Section 57-10-505 - Definitions

The following words and phrases when used in this article shall have the meaning given to them in this section unless the context clearly indicates otherwise:
(a)
"Assistance" means a loan to a small business or an equity investment in a small business by a planning and development district in accordance with this article.
(b)
"DECD" means the Mississippi Development Authority.
(c)
"Equity investment" means an investment in the ownership of a small business incorporated in Mississippi by a planning and development district in accordance with this article.
(d)
"General Fund" means the General Fund of the State of Mississippi.
(e)
"Loan" means a loan by a planning and development district to a small business in accordance with this article.
(f)
"MDA" means the Mississippi Development Authority.
(g)
"Planning and development districts" means an organized planning and development district in Mississippi.
(h)
"Program" means the Mississippi Small Business Assistance Program established in this article.
(i)
"Qualified entities" means small business investment corporations, community development corporations and other similar entities approved by the Mississippi Business Finance Corporation to participate in the program.
(j)
"Seller" means the State Bond Commission.
(k)
"Small business" means any commercial enterprise with less than one hundred (100) full-time employees, less than Seven Million Dollars ($7,000,000.00) in net worth or less than Seven Hundred Fifty Thousand Dollars ($750,000.00) in net annual profit after taxes.
Laws, 1993, ch. 566, § 3; Laws, 2001, ch. 428, § 2; Laws, 2001, ch. 537, § 2; Laws, 2010, ch. 533, § 10, eff. 4/16/2010.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 13 - MISSISSIPPI SMALL BUSINESS ASSISTANCE ACT (§§ 57-10-501 — 57-10-533) › Section 57-10-507 - Mississippi Small Business Assistance Program established; purpose

There is hereby established, under the direction of DECD, a program to be known as the Mississippi Small Business Assistance Program for the purpose of making grants to the planning and development districts and qualified entities for their use in providing assistance to small businesses in accordance with this article for the purpose of creating and retaining jobs and small business development.
Laws, 1993, ch. 566, § 4, eff. 4/19/1993.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 13 - MISSISSIPPI SMALL BUSINESS ASSISTANCE ACT (§§ 57-10-501 — 57-10-533) › Section 57-10-509 - Submission of grant applications to DECD

(1)
Any planning and development district or qualified entity desiring to participate in the program shall make application for a grant to DECD in a form satisfactory to DECD.
(2)
The application must indicate that the planning and development district or qualified entity has established a small business assistance review board to review applications for assistance under the program and make recommendations thereon to the board of directors of the planning and development district or governing board of a qualified entity in accordance with this article. The planning and development district or qualified entity shall provide such other assurances of their ability to administer and manage the program in accordance with this article as may be reasonably required by DECD. An eligible community development corporation shall execute a memorandum of agreement with the planning and development district(s) having such jurisdiction as may be concurrent with that of the community development corporation.
Laws, 1993, ch. 566, § 5, eff. 4/19/1993.
Mississippi Code 1972 (2023) › Title 57 - PLANNING, RESEARCH AND DEVELOPMENT (§§ 57-NEW-001 — 57-123-55) › Chapter 10 - SMALL BUSINESS ASSISTANCE (§§ 57-10-1 — 57-10-731) › Article 13 - MISSISSIPPI SMALL BUSINESS ASSISTANCE ACT (§§ 57-10-501 — 57-10-533) › Section 57-10-515 - Engagement of professional services

The planning and development districts and qualified entities are hereby authorized to engage legal counsel, accountants, financial advisors, appraisers, consultants and others as needed in connection with providing assistance to small businesses pursuant to this article, and to charge the costs of these services to the small businesses receiving such assistance or charge the proceeds of such assistance therefor. To the extent required by DECD, such professional services shall be engaged on a statewide program basis.
Laws, 1993, ch. 566, § 8, eff. 4/19/1993.