Mississippi Development Authority

Miss. Code Ann. tit. 57, ch. 1

in effect

Miss. Code Ann. § 57-1-1 Declaration of public policy.

It is hereby declared that the state public welfare demands, and the state public policy requires: That a balanced economic development of this state is essential. That the reconversion from wartime economy to peacetime pursuits appears reasonably imminent, requiring a planning program for readjustment of employment to accord with employment problems necessarily arising from changed conditions. That the present and prospective health, safety, morals, pursuit of happiness, right to gainful employment and the general welfare of the citizens demand as a public purpose the development within Mississippi of commercial, industrial, agricultural, manufacturing and tourism enterprises, herein called “enterprises” by the several counties, supervisors districts and municipalities, all herein called “municipalities.” “Enterprises” shall be construed to include expansion of such existing buildings and facilities, conditioned, however, that the municipality, if required by the Board of Economic Development, shall take security upon the existing building or buildings at the time of entering into contract for the expansion of existing buildings and facilities. That the means and measures herein authorized to promote said enterprises are, as a matter of public policy, for the public purposes of the several counties, supervisors districts, municipalities, and of the State of Mississippi. That the present and prospective promotion of health, safety, morals, pursuit of happiness, right to gainful employment, and the general welfare of the state requires the accomplishment of that which is herein and hereby authorized, in order to afford ready and attractive markets for farm and garden products, to develop natural resources and convert raw materials of farm, mine and forest into finished products for the general welfare of each of said municipalities and the entire state. That the accomplishment of the things herein authorized to be done by the several municipalities will give to them local benefits peculiar to each.

Miss. Code Ann. § 57-1-2 Definitions.

For the purposes of this chapter, the following words shall have the meanings ascribed herein, unless the context otherwise requires: “Department” shall mean the Mississippi Development Authority. “Office” shall mean an administrative subdivision of the department. “Executive director” shall mean the executive officer of the department. “Agricultural and Industrial Board,” “Department of Economic Development,” “Board of Economic Development,” “Department of Economic and Community Development” and “Mississippi Department of Economic and Community Development” wherever they appear in the laws of the State of Mississippi, shall mean the “Mississippi Development Authority,” operating through its executive director.

Miss. Code Ann. § 57-1-3 Mississippi Development Authority seal.

The Mississippi Development Authority shall have an official seal, and all orders, findings, acts and certifications of the department shall be attested by such seal, and by the signature of the executive director; and when so attested, all orders, acts, findings and certifications of the department shall be competent evidence and shall be given full faith and credit in any proceedings of a court in this state.

Miss. Code Ann. § 57-1-5 Executive director.

The Governor shall, with the advice and consent of the Senate, appoint an executive director who: Shall have at least a bachelor’s degree, and Shall be an experienced administrator and have at least five (5) years’ experience in at least one (1) of the following areas: Industrial development, or Economic development. The executive director shall be the executive officer of the department in the execution of any and all provisions of this chapter, and his salary shall be fixed by the Governor. The executive director shall have the following powers and duties: To formulate the policy of the department regarding the economic and tourist development of the state. To use and expend any funds from state, federal or private sources coming into the department for the purposes herein provided. State funds appropriated for the department shall be expended in accordance with the regulations governing the expenditures of other state funds. To implement the duties assigned to the department and consistent with specific requirements of law, including but not limited to: Support services to include legal, finance, data processing, personnel, communications and advertising, purchasing and accounting; Research and planning; Outreach, agency liaison and community development; Tourism, business travel, and film; Programs and assistance for existing state business and industry; Recruiting new business and industry into the state; Fostering and promoting of entrepreneurship and the creation of new business in the state; Programs aimed at competing effectively in the international economy by increasing exports of state products and services and by promoting, developing and creating the conditions and programs that will bring about significant increases in investment in the state from other countries; Programs relating to the development of ports; Such other areas as are within the jurisdiction and authority of the department and will foster and promote the economic development of this state; Salaries of the associate directors, deputy directors and bureau directors may be set by the executive director of the department. The positions of associate directors, deputy directors and bureau directors shall not be state service positions.

Miss. Code Ann. § 57-1-7 Department motor vehicle insurance.

The executive director may carry on each motor vehicle of the department property damage insurance and uninsured and underinsured motorists coverage for any physical damage which is sustained by such motor vehicles while such motor vehicles are being operated by a duly authorized department employee in the performance of his official duties. The coverage authorized in this section shall be purchased in a policy or policies written by the agent or agents of an insurance company authorized to do, and doing business, in this state, and the amount of coverage purchased shall be determined by the executive director. Premiums on such policies shall be paid as are other expenses of the department.

Miss. Code Ann. § 57-1-9 Repealed.

Repealed by Laws, 1988, ch. 518, § 92, eff from and after July 1, 1988. [Codes, 1942, § 8936-06; Laws, 1944, ch. 241, § 7; Laws, 1962, ch. 173]

Miss. Code Ann. § 57-1-10 Mississippi Development Authority Legislative Oversight Committee created; membership; meetings; compensation; terms of office; vacancies.

There is created the Mississippi Development Authority Legislative Oversight Committee to serve in an advisory capacity to the Mississippi Development Authority (“MDA”) regarding matters under the jurisdiction of the MDA. The committee shall consist of six (6) members, two (2) members to be appointed by the Governor, two (2) Senators to be appointed by the Lieutenant Governor and two (2) Representatives to be appointed by the Speaker of the House of Representatives. The committee shall have no jurisdiction or vote on any matter within the jurisdiction of the MDA. The committee shall meet quarterly and may meet at other times specified by the chairman of the committee. A quorum of the committee shall consist of four (4) members. The committee shall elect from among its membership a chairman and vice chairman. The MDA shall not be required to submit to the committee any information that it considers confidential or proprietary, or anything the disclosure of which may negatively affect a project it has under consideration. Members of the committee who are not legislators, state officials or state employees shall be compensated at the per diem rate authorized by Section 25-3-69 and shall be reimbursed in accordance with Section 25-3-41 for mileage and actual expenses incurred in the performance of their duties. Legislative members of the committee shall be paid from the contingent expense funds of their respective houses in the same manner as provided for committee meetings when the Legislature is not in session. However, no per diem or expense for attending meetings of the committee may be paid to legislative members of the committee while the Legislature is in session. No committee member may incur per diem, travel or other expenses unless previously authorized by vote, at a meeting of the committee, which action shall be recorded in the official minutes of the meeting. Nonlegislative members shall be paid from any funds made available to the committee for that purpose. The terms of the legislative members of the committee shall expire at the end of their terms of office, and the Governor’s appointees shall serve for a term concurrent with the term of office of the appointing Governor. Any vacancy on the advisory committee shall be filled by appointment by the original appointing authority for the remainder of the members’ unexpired term.

Miss. Code Ann. § 57-1-11 Rules and regulations.

The executive director is hereby authorized and empowered to promulgate and put into effect all reasonable rules and regulations that he may deem necessary to carry out the provisions of Sections 57-1-1 through 57-1-51, not inconsistent herewith.

Miss. Code Ann. § 57-1-12 Mississippi Development Authority to file annual report describing all assistance provided under the Advantage Mississippi Initiative.

The Mississippi Development Authority shall file an annual report with the Governor, Secretary of the Senate and the Clerk of the House of Representatives not later than July 1, 2001, and each year thereafter, describing all assistance provided under Laws, 2000, Second Extraordinary Session, Chapter 1.

Miss. Code Ann. § 57-1-12.1 1. Mississippi Development Authority to file quarterly reports regarding the net economic impact of incentives or assistance authorized under Sections 1 through 37 of Chapter 1, Laws of 2005, Third Extraordinary Session.

The Mississippi Development Authority shall prepare and file a quarterly report with the Secretary of State regarding the net economic impact on the state as a result of incentives or other forms of assistance authorized under Sections 1 through 37 of Chapter 1, Laws of 2005, Third Extraordinary Session, the number of enterprises benefited and the number of jobs created. Each report shall estimate the number of jobs created or retained at each enterprise or business as a result of the incentives or other forms of assistance authorized under Sections 1 through 37 of Chapter 1, Laws of 2005, Third Extraordinary Session.

Miss. Code Ann. § 57-1-12.2 2. Mississippi Development Authority to file annual report regarding tax credits, loans, rebates and grants made, approved or awarded as result of negotiations involving economic development projects; contents.

The Mississippi Development Authority (MDA) shall file an annual report with the Governor, Secretary of State, Secretary of the Senate and the Clerk of the House of Representatives not later than October 1 of each year regarding all tax credits, loans, rebates and grants made, approved or awarded by MDA as a result of negotiations involving an economic development project. The report shall contain the following information: The total amount of incentives approved or awarded; The total amount of loans made by MDA; The total amount of grants awarded by MDA; and A description of standard terms for each loan program. With respect to each client that receives or is awarded a tax credit, loan, rebate or grant referred to in subsection (1) of this section, the report shall include: The name and county of operation of the recipient; The amount of the loan, rebate or grant; The purpose of the loan, rebate or grant; The number of employees that the client agreed to hire, retain or train; The amount of the financial investment that the client expects to make in this state as a result of the economic development project; and A list of projects that have met contractual requirements and have been closed out by MDA. The Department of Revenue shall provide MDA with the tax information that is required to be included in this report.

Miss. Code Ann. § 57-1-13 Plans for advertising and developing state.

It shall be the duty of the executive director to prepare and perfect plans for the advertisement and development of the state in such manner and through such means as he may deem proper and within such appropriations as shall be made for expenditure.

Miss. Code Ann. § 57-1-14 Confidentiality of client information concerning development projects.

Any records of the Department of Economic and Community Development which contain client information concerning development projects shall be exempt from the provisions of the Mississippi Public Records Act of 1983 for a period of two (2) years after receipt of the information by the department. Confidential client information in public records held by the department shall be exempt from the provisions of the Mississippi Public Records Act of 1983 during the period of review and negotiation on a project proposal and for a period of thirty (30) days after approval, disapproval or abandonment of the proposal not to exceed one (1) year by the department in writing.

Miss. Code Ann. § 57-1-15 Interstate and federal cooperation; Economic Development Fund.

The department is hereby authorized to cooperate and coordinate with economic development commissions, travel and other similar commissions and boards, and/or other similar agencies of other states, the federal government, and with county, municipal and regional economic development, travel and other similar commissions or boards, or other agencies thereof, for the purposes of securing economic development within the State of Mississippi, and to accomplish this purpose, the department may contract for, receive and expend, state, federal and other funds; and to that end, there is hereby created within the department a special fund designated as the “Economic Development Fund,” to be kept separate and apart from all other funds and into which all funds received for the above-stated purposes shall be deposited and which funds are not appropriated by the State of Mississippi.

Miss. Code Ann. § 57-1-16 ACE Fund; creation; qualifications for assistance; rules and regulations.

As used in this section: “Extraordinary economic development opportunity” means a new or expanded business or industry which maintains a strong financial condition and minimal credit risk and creates substantial employment, particularly in areas of high unemployment. “Local economic development entities” means state institutions of higher learning or public or private nonprofit local economic development entities including, but not limited to, chambers of commerce, local authorities, commissions or other entities created by local and private legislation or districts created pursuant to Section 19-5-99. “MDA” means the Mississippi Development Authority. There is hereby created in the State Treasury a special fund to be designated as the ACE Fund, which shall consist of money from any public or private source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned on amounts in the fund shall be deposited to the credit of the fund. The purpose of the fund shall be to assist in maximizing extraordinary economic development opportunities related to any new or expanded business or industry or to assist a local unit of government as authorized in subsection (5) of this section. Such funds may be used to make grants to local economic development entities to assist any new or expanding business or industry that meets the criteria provided in this section when such assistance aids the consummation of a project within the State of Mississippi, or to make grants to a local unit of government as authorized in subsection (5) of this section. Monies in the fund which are derived from the proceeds of general obligation bonds may be used to reimburse reasonable actual and necessary costs incurred by the MDA for the administration of the various grant, loan and financial incentive programs administered by the MDA. An accounting of actual costs incurred for which reimbursement is sought shall be maintained by the MDA. Reimbursement of reasonable actual and necessary costs shall not exceed three percent (3%) of the proceeds of bonds issued. Reimbursements made under this subsection shall satisfy any applicable federal tax law requirements. The MDA shall establish a grant program to make grants from the ACE Fund created under this section. Local economic development entities may apply to the MDA for a grant under this section in the manner provided for in subsection (4) of this section. Local units of government may apply to the MDA for a grant under this section in the manner provided in subsection (5) of this section. Any business or industry desiring assistance from a local economic development entity under this section shall submit an application to the local economic development entity which shall include, at a minimum: Evidence that the business or industry meets the definition of an extraordinary economic development opportunity; A demonstration that the business or industry is at an economic disadvantage by locating the new or expanded project in the county; A description, including the cost, of the requested assistance; A description of the purpose for which the assistance is requested; A two-year business plan; Financial statements or tax returns for the three (3) years immediately prior to the application; Credit reports on all persons or entities with a twenty percent (20%) or greater interest in the business or industry; and Any other information required by the MDA. The MDA shall require that binding commitments be entered into requiring that: The minimum requirements of this section and such other requirements as the MDA considers proper shall be met; and If such requirements are not met, all or a portion of the funds provided by this section as determined by the MDA shall be repaid. Upon receipt of the application from a business or industry, the local economic development entity may apply to the MDA for assistance under this section. Such application must contain evidence that the business or industry meets the definition of an extraordinary economic development opportunity, a demonstration that the business or industry is at an economic disadvantage by locating the new or expanded project in the county, a description, including the cost, of the requested assistance, and a statement of what efforts have been made or are being made by the business or industry for securing or qualifying for other local, state, federal or private funds for the project. The MDA shall have sole discretion in the awarding of ACE funds, provided that the business or industry and the local economic development entity have met the statutory requirements of this section. However, in making grants under this section, the MDA shall attempt to provide for an equitable distribution of such grants among each of the congressional districts of this state in order to promote economic development across the entire state. The MDA may make grants to local units of government to assist the local unit of government in purchasing real property for the benefit of an existing industry that commits to maintain a minimum of one thousand three hundred (1,300) jobs for a minimum of ten (10) years after the date the grant is made. Any local unit of government seeking a grant authorized under this subsection shall apply to MDA. The application shall contain such information as the MDA may require. The MDA shall require that binding commitments be entered into requiring that: The minimum requirements of this subsection and such other requirements as the MDA considers proper shall be met; and If such requirements are not met, all or a portion of the funds provided by this section as determined by the MDA shall be repaid. The MDA shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, for the implementation of this section. However, before the implementation of any such rules and regulations, they shall be submitted to a committee consisting of five (5) members of the Senate Finance Committee and five (5) members of the House of Representatives Ways and Means Committee, appointed by the respective committee chairmen.

Miss. Code Ann. § 57-1-17 Publicity and advertising; research laboratory.

It shall be the duty of the executive director and he is hereby authorized to prepare and execute a program of publicity and advertising that will bring into favorable notice the industrial, commercial, recreational, educational and social advantages, opportunities, possibilities, resources, farm and dairy products, and facilities of the state, and in the preparation and execution of such program he may use any funds which may be appropriated or otherwise made available for the purpose of carrying out the provisions of Sections 57-1-1 through 57-1-51. The department may erect, equip, maintain and operate a research laboratory for the purpose of finding new and additional uses for Mississippi products and is authorized and empowered to receive, use and expend any funds from state, federal or private sources which it may receive for that purpose.

Miss. Code Ann. § 57-1-18 Small Municipalities and Limited Population Counties Fund; definitions; creation; grant program; qualifications for assistance; promulgation of rules and regulations; annual report.

For the purposes of this section, the following terms shall have the meanings ascribed in this section unless the context clearly indicates otherwise: “Limited population county” means a county in the State of Mississippi with a population of thirty thousand (30,000) or less according to the most recent federal decennial census at the time the county submits its application to the MDA under this section. “MDA” means the Mississippi Development Authority. “Project” means highways, streets and other roadways, bridges, sidewalks, utilities, airfields, airports, acquisition of equipment, acquisition of real property, development of real property, improvements to real property, and any other project approved by the MDA. “Small municipality” means a municipality in the State of Mississippi with a population of ten thousand (10,000) or less according to the most recent federal decennial census at the time the municipality submits its application to the MDA under this section. The term “small municipality” also includes a municipal historical hamlet as defined in Section 17-27-5. There is hereby created in the State Treasury a special fund to be designated as the “Small Municipalities and Limited Population Counties Fund,” which shall consist of funds appropriated or otherwise made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used to make grants to small municipalities and limited population counties or natural gas districts created by law and contained therein to assist in completing projects under this section. Monies in the fund which are derived from proceeds of bonds issued under Sections 1 through 16 of Chapter 538, Laws of 2002, Sections 1 through 16 of Chapter 508, Laws of 2003, Sections 55 through 70 of Chapter 1, Laws of 2004 Third Extraordinary Session, Sections 1 through 16 of Chapter 482, Laws of 2006, Section 15 of Chapter 580, Laws of 2007, Section 1 of Chapter 503, Laws of 2008, Section 42 of Chapter 557, Laws of 2009, Section 38 of Chapter 533, Laws of 2010, Section 41 of Chapter 480, Laws of 2011, Section 30 of Chapter 569, Laws of 2013, Section 4 of Chapter 530, Laws of 2014, Section 11 of Chapter 472, Laws of 2015, Section 19 of Chapter 511, Laws of 2016, Section 5 of Chapter 452, Laws of 2018, or Section 19 of Chapter 454, Laws of 2019 may be used to reimburse reasonable actual and necessary costs incurred by the MDA for the administration of the various grant, loan and financial incentive programs administered by the MDA. An accounting of actual costs incurred for which reimbursement is sought shall be maintained by the MDA. Reimbursement of reasonable actual and necessary costs shall not exceed three percent (3%) of the proceeds of bonds issued. Reimbursements under this subsection shall satisfy any applicable federal tax law requirements. The MDA shall establish a grant program to make grants to small municipalities and limited population counties from the Small Municipalities and Limited Population Counties Fund. Grants made under this section to a small municipality or a limited population county shall not exceed Two Hundred Fifty Thousand Dollars ($250,000.00) during any grant period established by the MDA. A small municipality or limited population county may apply to the MDA for a grant under this section in the manner provided for in this section. A small municipality or limited population county desiring assistance under this section must submit an application to the MDA. The application must include a description of the project for which assistance is requested, the cost of the project for which assistance is requested, the amount of assistance requested and any other information required by the MDA. The MDA shall have all powers necessary to implement and administer the program established under this section, and the department shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section. The MDA shall file an annual report with the Governor, the Secretary of the Senate and the Clerk of the House of Representatives not later than December 1 of each year, describing all assistance provided under this section.

Miss. Code Ann. § 57-1-19 Municipal enterprises; certificate of public convenience and necessity.

The executive director is charged with the duty of making effective the declared public policy of the state and municipalities as hereinabove set forth, and for that purpose is hereby authorized and empowered to determine whether the public convenience and necessity require that any municipality shall have the right to acquire lands, and thereon to erect enterprises, and expansions thereof and thereto, conditioned, however, that the municipality, if so required by him, shall take security upon the existing building or buildings at the time of entering into contract for the expansion of existing buildings and facilities, and to operate them and to dispose of or rent, let or lease such lands and enterprises. Each municipality within this state shall have the right to apply to the executive director for a certificate of public convenience and necessity as to whether the general welfare requires that such municipality enter into a given enterprise. In determining whether such certificate shall be issued, the executive director may hold public hearings or private hearings, make such investigations as he may desire; and he shall have power to summon witnesses, administer oaths, hear testimony and make a record of all things had and done at such hearing or investigation, and may issue such certificates of convenience and necessity as he deems advisable.

Miss. Code Ann. § 57-1-21 Municipal enterprises; issuance of certificate.

The executive director shall investigate, find and determine upon application of any municipality therefor, as to whether a certificate of public convenience and necessity shall be issued to such municipality to engage in any of the enterprises deemed essential under the above declared public policy for the economic development and advancement of such municipality; and in considering and determining whether or not such certificate shall issue, the executive director shall find and determine affirmatively the following: That there are sufficient natural resources readily and economically available for the operation of the particular enterprise for at least ten (10) years, but in no event less than the period of time for which any bonds may be issued for acquiring or constructing such enterprise. That there is available a labor supply to furnish at least one and one-half workers between the ages of eighteen (18) and fifty (50) for each operative job in such enterprise within an area of twenty-five (25) miles from the proposed location. That there are adequate property values and suitable financial conditions so that the total bonded indebtedness of the municipality, solely for the purposes authorized by Sections 57-1-1 through 57-1-51, shall not exceed twenty percent (20%) of the total assessed valuation of all the property in the municipality. When the executive director shall have determined the foregoing facts favorably, he is authorized and empowered, having due regard to the promotion of the public policy and the general welfare herein declared, to issue or refuse to issue a certificate of public convenience and necessity to the municipality to engage in such enterprise. If and when such certificate is issued, it shall authorize the particular municipality to acquire, to own, to operate, to sell, to convey, to let, to lease or to rent the particular enterprise found suited to the general welfare of that municipality; but the certificate shall expire in twelve (12) months from its date unless within that time such enterprise shall have been established, subject, however, to any delays necessitated by any legislation or acts of God, delaying the establishment of the enterprise. In no event shall the executive director authorize any municipality actually to operate any enterprise, unless he shall further find and determine that the enterprise is well conceived, has a reasonable prospect of success, will provide proper economic development and employment, will add materially to the general welfare of the municipality, and will not become a burden upon the taxpayers of the municipality. If and when a certificate is issued, the executive director therein shall fix and determine: (a) the extent and the amount to which the municipality may issue bonds or make expenditures for such enterprise; (b) what property may be acquired therefor; (c) the terms upon which such acquisition may be had; (d) what expenditures may be made, and the construction of buildings, and of equipment with its installation; and (e) the method of operation of the enterprise by the municipality. If the governing board of the municipality fails or refuses to follow the requirements made by the executive director in the certificate, then the members of the governing board of the municipality voting for such failure or refusal shall be individually and personally liable, and liable upon their official bonds for any loss that the municipality may sustain by reason of such failure or refusal to follow the requirements, and in addition may be compelled by injunction to comply with such requirements. If the executive director refuses to issue a certificate, an appeal of such refusal may be taken by the municipality to the Governor in the manner and within the time that the Governor shall establish by executive order.

Miss. Code Ann. § 57-1-23 Municipal enterprises; power conferred to acquire lands, erect buildings, etc.

The several municipalities of this state, including counties, judicial districts of counties having two judicial districts, supervisors districts, cities, towns or villages, whether existing under special charters or otherwise, hereinabove called “municipalities,” are hereby authorized and empowered to make effective the provisions herein contained, for the general welfare of the state and of the several municipalities thereof. When and after such municipality shall have obtained therefor a certificate of public convenience and necessity, under the provisions of Sections 57-1-19 and 57-1-21, then it may acquire land by purchase, gift, eminent domain or otherwise for any such enterprise so thus approved, and may directly or by contract, such contract to be entered into and governed as now provided by law for other public contracts entered into by boards of supervisors, erect such buildings and structures as may be essential for such enterprise, may obtain for such enterprise the requisite appliances and equipment, and may operate such enterprise. The power thus to do is hereby generally conferred upon all such municipalities, and shall be in addition to all other powers now possessed without in anywise limiting or circumscribing them. Any city or town in this state situated in a county bordering on the Mississippi River and situated not more than five miles from the proposed industrial site or location of any industrial plant or proposed site of such plant, authorized to be established, built and erected under the terms of Sections 57-1-1 through 57-1-51, such distance to be measured between the corporate line of any such city or town nearest such proposed site and the boundary of such proposed site nearest such corporate line, is hereby authorized and empowered to join with another municipality and subdivisions of government, as defined hereinabove, in the creation, establishment, acquisition, ownership, control, sale, lease, disposition and disposal of any such plant, plant site and/or other property, real and personal, acquired, owned, or otherwise possessed and controlled under authority of Sections 57-1-1 through 57-1-51, notwithstanding the fact that the said, or proposed, plant, plant site, and/or other property, real or personal, is situated in another supervisors district other than the supervisors district in which such city or town is situated. In all cases provided for in this subsection, all authority, powers, privileges and rights provided for in Sections 57-1-1 through 57-1-51, shall be and are hereby conferred upon and vested in such city or town and such other municipality as may join therewith, as herein authorized.

Miss. Code Ann. § 57-1-25 Municipal enterprises; election.

The governing board of any municipality desiring to enter into the plan herein authorized, after receiving a certificate of public convenience and necessity from the executive director, as provided by Sections 57-1-19 and 57-1-21, by resolution spread upon its minutes, shall declare its intention of entering into such plan, and shall call an election to be held in the manner now provided by law for holding county or municipal elections, and shall fix in such resolution a date upon which such an election shall be held in the municipality, of which not less than three (3) weeks’ notice shall be given by the clerk of such board, by a notice in a newspaper published in the municipality once each week for three (3) consecutive weeks preceding the same, or if no newspaper is published in the municipality, then by posting a notice for three (3) weeks preceding the election at three (3) public places in the municipality. At such election, all qualified electors of the municipality may vote, and the ballots used shall have printed thereon a brief statement of the purpose of the board to enter into the plan hereby authorized and to issue bonds therefor or to expend other municipal funds available together with the words “For the Proposed Enterprise,” and the words “Against the Proposed Enterprise,” and the voter shall vote by placing a cross (X) opposite his choice of the proposition. Should the election provided for herein result in favor of the proposed plan and bond issue or expenditure by at least sixty percent (60%) of those voting in favor of the plan, provided that the total number of votes cast in the election shall be not less than thirty percent (30%) of the qualified electors of the territory included in the proposal, then the governing board may proceed to exercise the authority granted under the provisions of Sections 57-1-1 through 57-1-51 within three (3) years after the date of such election or within three (3) years after final, favorable determination of any litigation affecting the industrial plan or bond issue. If such election results unfavorably to the proposition, then no second or other election shall be ordered or held until the board shall determine that such election may be held. Where the separate supervisors district or districts of a county indicate a desire to enter into the plan herein authorized, but not to affect the remainder of the county, then the board of supervisors shall direct the holding of such election only in the supervisors district or districts affected, and the board of supervisors is hereby authorized to carry out the provisions of Sections 57-1-1 through 57-1-51 for such separate supervisors district or districts. In the event the proposal to be voted on at the election required herein includes bonds to be issued covering a supervisors district or districts, but not the entire county, includes a town or city of a population of more than five hundred, (500) as well as territory outside the corporate limits of such town or city and the proposed enterprise is to be located in such town or city or within one (1) mile of the corporate limits thereof, the qualified electors voting in the election residing outside the corporate limits of the town or city shall vote separately from those residing in such town or city. All qualified electors shall vote at their usual voting places and in event the usual voting place of electors residing outside the corporate limits of such town or city is in such town or city, such elector shall vote in a separate ballot box provided for the purpose, and the officers holding the election shall make separate returns of the results of the vote of those residing within the town or city and those residing outside such town or city. Unless sixty percent (60%) of the qualified electors residing in such town or city voting in the election and sixty percent (60%) of the qualified electors residing outside such town or city voting in such election shall vote for the proposed bond issue, computed and declared separately, the proposed bond issue shall be declared as disapproved. It shall be the duty of the county election commissioners to provide necessary ballot boxes, separate voting lists containing the names of electors residing within and without the corporate limits of towns and cities when such is required by the proposal submitted, and records for the conduct of the election in accordance with the requirements of this section. And in event the proposal to be voted on at the election required by this section includes bonds to be issued covering the entire county and the proposed industry is to be located in a town or city or within one (1) mile of the corporate limits thereof, the qualified electors voting in the election residing outside the corporate limits of the city or town, and whose regular voting place is within the corporate limits of the city or town, shall vote separately from those residing in such city or town, in separate ballot boxes to be provided for such purposes, and the votes so cast shall be counted separately. At the election, unless sixty percent (60%) of the qualified electors voting in the election and residing within the corporate limits of the city or town in which the proposed enterprise is to be located, or the town or city within one (1) mile of the proposed location of the enterprise shall vote for the proposed bond issue and sixty percent (60%) of all the other qualified electors of the county voting in the election shall vote for the proposed bond issue, computed and declared separately, the proposed bond issue shall be declared as disapproved. All qualified electors voting in such election shall vote at their usual voting precincts, and the county election commissioners shall provide necessary boxes, separate voting lists containing the names of electors residing within and without the corporate limits of the town or city wherein such enterprise is proposed to be located, or such town or city within one (1) mile of the proposed location of the enterprise, and records for the conduct of the election in accordance with the requirements of this section.

Miss. Code Ann. § 57-1-27 Bonds and certain contracts subject to approval of executive director.

Before any bonds shall be issued under Sections 57-1-1 through 57-1-51 by any municipality, or any contract shall be made to dispose of any public property hereunder acquired, the same must be approved in its entirety by the executive director, but such approval shall not in any way render the State of Mississippi liable.

Miss. Code Ann. § 57-1-29 Issuance of municipal bonds; form; terms; tax levy.

A municipality, having been authorized by the executive director, as herein provided, may expend, for acquiring and operating such municipal enterprise under rules and regulations adopted by the executive director, any funds of the municipality then on hand or available and not already appropriated or necessary for other municipal purposes. A municipality, after the terms and conditions have been fixed by the executive director and with his approval, is hereby authorized from and after July 1, 1944, to issue bonds of such municipality for the purpose of effectuating the provisions of Sections 57-1-1 through 57-1-51 and promoting thereby the public policy of this state in bringing about the general welfare of its people. When, if and to the extent that a bond issue shall be approved by the executive director, then the same may be authorized by the governing authority of the municipality, and to secure such bond issue the municipality may mortgage or pledge property used and useful for the industrial enterprise; and the income therefrom, and confer upon the holders of such bonds the rights of a first mortgage bondholder. Such bond issue shall be first approved by the executive director, and thereafter shall be authorized by resolution or ordinance of the governing board of the municipality in such form and with such provisions, terms and conditions as may be fixed in the resolution or ordinance not inconsistent with the provisions of Sections 57-1-1 through 57-1-51. Present limitations on the amount of other bonds that may be issued by such municipality shall not apply to bonds issued hereunder other than as herein otherwise provided. All such bonds shall be lithographed or engraved, and printed in two (2) or more colors to prevent counterfeiting, and shall be in sums not less than One Thousand Dollars ($1,000.00) or multiples thereof, and shall be numbered in a regular series from one (1) upward, be executed by the manual or facsimile signature of the president of the board of supervisors and the clerk of such board; or by the mayor and clerk of the municipality, and either of such clerks shall impress the county or municipal seal, as the case may be, upon each bond as it is issued. At least one (1) signature on each bond shall be a manual signature, as specified in the issuing resolution. The coupons may bear only the facsimile signatures of such president and clerk of the board of supervisors or such mayor and clerk, as the case may be. Every such bond shall specify on its face the purpose for which it was issued, the total amount authorized to be issued, and each shall be made payable to bearer, and on request of any holder of such bonds the same may be registered as to principal by the clerk of the issuing board. The governing authorities shall annually levy a tax, or shall otherwise provide funds sufficient for paying interest on such bonds, and the bonds maturing within one (1) year and shall provide a sinking fund for the redemption of the bonds issued. Such bonds shall be issued maturing annually with all maturities not longer than twenty (20) years with not less than one-fiftieth (1/50) of the total issue to mature each year during the first five (5) years of the life of the bonds, and not less than one-twenty-fifth (1/25) of the total issue to mature annually during the succeeding ten-year period of the life of the bonds, and the remainder to be amortized, as to the principal and interest, into approximately equal payments, one (1) payment to mature during each year for the remaining life of the bonds. Such bonds shall not bear a greater overall maximum rate of interest than that allowed in Section 75-17-101, Mississippi Code of 1972. No bond shall bear more than one (1) rate of interest; each bond shall bear interest from its date to its stated maturity date at the interest rate specified in the bid; all bonds of the same maturity shall bear the same rate of interest from date to maturity; all interest accruing on such bonds so issued shall be payable semiannually or annually, except that the first interest coupon attached to any such bond may be for any period not exceeding one (1) year. No interest payment shall be evidenced by more than one (1) coupon and neither cancelled nor supplemental coupons shall be permitted; the lowest interest rate specified for any bonds issued shall not be less than seventy percent (70%) of the highest interest rate specified for the same bond issue. The interest rate of any one (1) interest coupon shall not exceed the maximum interest rate allowed on such bonds. Each interest rate specified in any bid must be in multiples of one-eighth of one percent (1/8 of 1%) or in multiples of one-tenth of one percent (1/10 of 1%). The denomination, form and place of payment shall be fixed in the authorization therefor, and for the payment thereof the full faith, credit and resources of the municipality shall be pledged and a tax levied on all taxable property in the municipality, adequate to pay principal and interest on such bonds as the same fall due. Proceeds of such bonds shall be placed in the municipal treasury as a special fund and shall be used for no other purpose than the purpose set forth in the original resolution, and any officer diverting or assisting to divert any such fund to any other purpose than the purpose originally set forth in the resolution of the governing authority of the municipality shall be guilty of a misdemeanor, shall be punished accordingly, and shall also be liable both personally and on his official bond for such diversion, together with the costs of collection and reasonable attorney’s fees. The Attorney General is authorized to proceed by action for injunction or mandamus to require compliance with the original resolution by any officer or municipal board.

Miss. Code Ann. § 57-1-31 Compensation of attorneys employed in issuance of bonds.

The board of supervisors of any county, or the governing authorities of any municipality or other political subdivision, shall have the power, in its discretion, to pay reasonable compensation to attorneys who may be employed by it in the matter of the issuance of bonds authorized to be issued by the provisions of this chapter, the drafting of all orders and resolutions in connection therewith, and passing upon the validity thereof. However, in no instance shall the attorney’s fees paid for the issuance or refunding of such bonds exceed the following amounts, to-wit: On all such bond issues the attorney’s fees shall not exceed one percent (1%) of the first five hundred thousand dollars ($500,000.00); one-half percent (1/2%) of all over five hundred thousand dollars ($500,000.00) and not more than one million dollars ($1,000,000.00); and one-fourth percent (1/4%) of all amounts in excess of one million dollars ($1,000,000.00). As used in this section, the term “municipalities” shall be construed to include any political subdivision of this state authorized to issue bonds under the authority contained in this chapter. The limitations imposed herein shall not apply to any bond issue upon which a declaration of intent to issue bonds has heretofore been spread upon the minutes of the political subdivision desiring to issue same.

Miss. Code Ann. § 57-1-33 Duties of executive director as to issuance of bonds.

When the executive director authorizes any municipality to issue bonds under the provisions of Sections 57-1-1 through 57-1-51, he shall find and determine the total amount of bonds to be issued. He shall fix the maturity dates of the bonds consistent with the provisions of the aforesaid sections. He shall determine the amount of taxes necessary to be levied and collected annually to retire the bonds and pay interest coupons and to create a sinking fund for the payment of the bonds and interest so that the annual tax levy shall be uniform throughout the period for which the bonds are issued. He shall require the municipality to report annually to him payments made on the bonds and on interest, with the dates of payments, and to report the amount passed to the sinking fund, together with a list and amount of the bonds remaining outstanding for purposes of the aforesaid sections, and a failure so to do shall make the members of the governing board guilty of a misdemeanor and punishable accordingly. All of such reports shall be permanent public records of the department.

Miss. Code Ann. § 57-1-35 Sale of bonds.

The bonds hereinabove provided for shall be sold by the governing authority of the municipality at not less than par and accrued interest at public sale held after notice of such sale published at least one (1) time at least five (5) days before such sale in a newspaper of general circulation in the municipality.

Miss. Code Ann. § 57-1-37 Issuance of additional bonds by municipality.

In the case any municipality shall have initiated any industry as provided in Sections 57-1-19 and 57-1-21, and thereafter said municipality lacks the requisite funds for completion by reason of emergency which was wholly unforeseen, then upon the approval of the commission, upon the same terms and conditions as herein set forth, additional bonds may be authorized.

Miss. Code Ann. § 57-1-39 Exemption from taxation of bonds.

All bonds issued pursuant to Sections 57-1-1 through 57-1-51 and all interest thereon or income therefrom shall be exempt from all taxation except gift and inheritance taxes. Necessary taxes levied and collection for the payment of these bonds and interest thereon shall not be considered or accounted in any limitation on the powers of the municipality to tax except as otherwise herein provided.

Miss. Code Ann. § 57-1-41 Investment of surplus sinking funds in bonds.

Any municipality having surplus sinking funds under the provisions of Sections 57-1-1 through 57-1-51 may, in the discretion of the governing board of such municipality, invest said sinking funds by purchasing bonds of any county or municipality of this state, bonds of the State of Mississippi, or bonds issued by authority of the United States government, except drainage district bonds, provided, that the bonds so purchased shall mature prior to the time when the bonds payable out of the sinking fund hereunder shall fall due.

Miss. Code Ann. § 57-1-43 Payment and retirement of bonds; use of surplus income.

Any municipality may use any sinking fund, reserve fund, or surplus fund to purchase any bond hereunder issued, and shall cancel and retire the same when, in the judgment of the governing authorities of such municipality, the interest of such municipality will be subserved thereby. Any surplus income from said enterprise arising through its operation or from its disposition, accruing to the municipality over and above the amount necessary to pay for repairs, replacements, bonds herein authorized which may be issued and interest thereon, may be applied by the governing board of the municipality upon any of the other outstanding debts or obligations of the municipality.

Miss. Code Ann. § 57-1-45 Sale, lease, etc., of municipal enterprises.

The several municipalities when and to the extent authorized by the executive director pursuant hereto, are hereby authorized and empowered, if they so desire, by and through their governing board, to sell, lease or otherwise dispose of such enterprise or enterprises, in whole or in part, on such terms and conditions and with such safeguards as will best promote and protect the public interest, and are authorized, acting with the approval of the executive director by and through their respective governing boards, to transfer title or possession to such industry or to any property utilized therein, by warranty deed, lease, bill of sale, contract or other customary business instrument, in the same manner and to the same extent, when so thus authorized by the executive director, that any private corporation, association or person may now contract, with reference to such property of a similar nature, provided that such disposition shall not be made except by the affirmative vote of at least two-thirds (2/3) of the members elected to the governing body of such municipality, and all votes shall be of record. All income from any lease or contract for the operation or from the disposition of such industrial enterprise shall be paid into the bond sinking fund provided for the bonds issued under the provisions of Sections 57-1-1 through 57-1-51 for the retirement of such bonds and the interest thereon, and such income or proceeds shall not be used by the municipality for any other purpose except as to disposition of surplus income authorized above, and shall be subject to all of the provisions hereof relative to such sinking fund.

Miss. Code Ann. § 57-1-47 Municipal enterprises exempt from taxation.

All enterprises acquired, constructed or owned by any of said municipalities under the provisions of Sections 57-1-1 through 57-1-51, are declared the public property of each of said municipalities, and as such, shall not be subject to taxation.

Miss. Code Ann. § 57-1-49 Assistance by port authorities.

Any port commission or authority created by law, operating in any county or municipality of this state, is authorized and empowered to assist and cooperate with such county or municipality to effectuate the purposes of Sections 57-1-1 through 57-1-51.

Miss. Code Ann. § 57-1-51 Construction of Sections 57-1-1 through 57-1-51.

The provisions of Sections 57-1-1 through 57-1-51 shall not repeal or impair any law now in effect, except as therein specifically provided, but shall exist as a separate, several, independent, additional and cumulative method for giving to the people of Mississippi the fulfillment of the public policy of encouraging the promotion of economic development of new and existing “enterprises.” Nor shall the aforesaid sections or any part thereof repeal any of the provisions of private or special municipal charters, nor affect, limit or restrict the right of any municipality, now operating under special charter, to amend said charter pursuant to the provisions of Section 21-17-9, Mississippi Code of 1972, which section shall apply to Sections 57-1-1 through 57-1-51.

Miss. Code Ann. § 57-1-52 Creation of Department of Economic and Community Development; organization; executive director; division directors.

There is hereby created the Mississippi Department of Economic and Community Development, whose principal offices shall be located in Jackson, Mississippi. The Mississippi Department of Economic and Community Development shall be organized into the following offices: Office of Economic Development; Office of Community Development; Office of Support Services. The department shall be headed by an executive director, who shall be appointed by and serve at the pleasure of the Governor. The appointment of the executive director shall be made with the advice and consent of the Senate. The executive director may assign to the appropriate offices such powers and duties as deemed appropriate to carry out the department’s lawful functions. The executive director of the department shall appoint heads of offices, who shall serve at the pleasure of the executive director. The executive director shall have the authority to organize the offices established by subsection (2) of this section as deemed appropriate to carry out the responsibilities of the department. The organization charts of the department shall be presented annually with the budget request of the Governor for review by the Legislature.

Miss. Code Ann. § 57-1-53 Department designated agency for receipt of federal funds; coordination of functions relating to economic development and tourism.

The department is designated as the single state agency to receive and expend any federal funds made available for matters within the jurisdiction of the department. The department shall coordinate all functions of state government related to economic development and tourism within the jurisdiction of the department.

Miss. Code Ann. § 57-1-54 Transfer of powers and duties of Department of Economic and Community Development to Mississippi Development Authority.

The Mississippi Development Authority shall be the Department of Economic and Community Development and shall retain all powers and duties granted by law to the Mississippi Department of Economic and Community Development and wherever the term “Mississippi Department of Economic and Community Development,” “Department of Economic and Community Development,” “Mississippi Department of Economic Development” or “Department of Economic Development” appears in any law the same shall mean the Mississippi Development Authority. The Mississippi Development Authority may continue to refer to itself as the Mississippi Department of Economic and Community Development for as long as it may deem necessary. The Executive Director of the Mississippi Development Authority may assign to the appropriate divisions such powers and duties as he deems appropriate to carry out its lawful duties. Nothing in the Mississippi Executive Reorganization Act of 1989 [Laws, 1989, Chapter 544] shall be construed to eliminate or change in any manner the duties, functions or operations of the planning and development districts heretofore created by executive order of the Governor.

Miss. Code Ann. § 57-1-55 General powers and duties of Department of Economic and Community Development.

The Department of Economic and Community Development shall have the following general powers and duties: To develop and manage programs which enhance the climate for economic growth through assistance to private sector businesses, local communities and individuals, and through an extensive national and international marketing effort. The Department of Economic and Community Development shall have the following general powers and duties with respect to economic development: To plan, supervise and direct an active program of solicitation of industries to locate within the state; To prepare, maintain and disseminate information which is needed by companies in evaluating site locations; To consult with, advise and assist prospective industries wishing to locate within the state; To encourage new or expanding industries, which will add to the economy, to locate within the state; To maintain a coordinated liaison function with other development groups, including state and federal agencies, and planning and development districts, utility companies, chambers of commerce and railroads; To assist communities and counties within the state in preparation for economic growth; To assist new and existing business and industry and encourage their development and expansion; To plan and conduct a nationwide advertising program promoting the state to prospective industry. Any contract entered into for such purposes shall be advertised, bid and accepted in accordance with the same procedure as prescribed for the advertisement and acceptance of bids for the purchase of commodities and contracts for public purchases under Chapter 7, Title 31, Mississippi Code of 1972; To work with economic development agencies of the federal government in areas of industrial development and provide information to industrial prospects regarding the availability of federal funds and assistance; To work with the Department of Corrections, pursuant to the provisions of Section 47-5-501 et seq., in identifying and evaluating acceptable industries and businesses and in acting as an agent of the Department of Corrections by communicating with such concerns and aggressively soliciting their participation in the Correctional Industries Work Program; To perform related work as required; To disseminate information about financial and other programs of the Department of Economic and Community Development that will assist in the creation or expansion of industries processing wood products in this state; To market processed and raw agricultural products domestically and abroad; To aid in the establishment of business incubation centers by private business interests, not for profit corporations, and/or governmental entities. The department may provide funds by contract for the establishment of business incubation centers and may contract for space in which business incubation centers will be located. Business incubation centers are defined as facilities and support services that encourage the establishment of successful small businesses by providing a short-term sheltered environment. The department may solicit and accept grants and other financial aid or support from private or public sources to aid in the development of business incubation centers. In addition, advice and assistance to established business incubation centers may be provided by the department; and To employ licensed real estate brokers and appraisers necessary for the industrial development of any real estate under the ownership or control of the Department of Economic and Community Development. Any contract entered into for such purposes shall be advertised, bid and accepted in accordance with the same procedure as prescribed for the advertisement and acceptance of bids for the purchase of commodities and contracts for public purchases under Chapter 7, Title 31, Mississippi Code of 1972.

Miss. Code Ann. § 57-1-56 Occupational Information Coordinating Committee.

The Occupational Information Coordinating Committee shall be located within the Department of Economic and Community Development and shall develop and implement an occupational information system for vocational education, employment and training programs.

Miss. Code Ann. § 57-1-57 Study to determine existence of disparity in number of qualified minority contractors.

The Mississippi Development Authority shall conduct and prepare, or shall contract for the preparation of, a study to determine if there is a significant statistical disparity in the total number of qualified minority contractors of goods and services doing business in the State of Mississippi and the actual number of such minority contractors with whom the State of Mississippi, or with whom a prime contractor with the State of Mississippi, has contracted to provide goods and services.

Miss. Code Ann. § 57-1-58 Policy of the Mississippi Development Authority with regard to programs of diversity in contracting for entities using funds made available under Sections 1 through 37 of Chapter 1, Laws of 2005, Third Extraordinary Session.

It is the policy of the Mississippi Development Authority and the Mississippi Development Authority is authorized to accommodate and support any entity using funds authorized and made available under Sections 1 through 37 of Chapter 1, Laws of 2005, Third Extraordinary Session that wishes to have a program of diversity in contracting, and/or that wishes to do business with or cause its prime contractor to do business with Mississippi companies, including those companies that are small business concerns owned and controlled by socially and economically disadvantaged individuals. The term “socially and economically disadvantaged individuals” shall have the meaning ascribed to that term under Section 8(d) of the Small Business Act (15 USCS 637(d)) and relevant subcontracting regulations promulgated pursuant thereto; except that women shall be presumed to be socially and economically disadvantaged individuals for the purposes of this section.

Miss. Code Ann. § 57-1-59 General powers and duties of Mississippi Development Authority with respect to tourism.

The Mississippi Development Authority shall have the following general powers and duties with respect to tourism: To promote and advertise the image of Mississippi both within and without the boundaries of this state; To promote and advertise fairs and similar activities of interest to tourists and the traveling public; To promote and advertise the use of wildlife and natural areas by tourists and the traveling public; To promote and advertise the use of state recreational and park facilities by tourists and the traveling public; To promote and advertise all resources of the State of Mississippi as attractions to tourists and the traveling public; To develop for all agencies of state government the necessary promotional and advertising materials needed to promote all facilities and programs which may be of interest to travelers and tourists; To maintain an educational awareness program for the citizens of the state to constantly encourage increased development of activities of interest to tourists and the traveling public; To develop and maintain an information services system to adequately guide tourists and the traveling public within the boundaries of the state; To develop and maintain an extensive media program to adequately inform the national and international consumer about Mississippi; To enter into contracts and other agreements with local tourism commissions or similar entities for the purpose of developing regional strategies for tourism promotion. The Mississippi Development Authority, in conjunction with the formulation of regional strategies for tourism promotion, may require that local tourism commissions or similar entities enter into agreements with the authority as a condition for receiving any state grants to promote tourism; and To develop programs and projects promoting the state’s heritage, history, culture, literature and arts, including the positive recovery of the state after damages caused by natural disasters, and demonstrating the state’s attractiveness as a tourism destination for those and other reasons.

Miss. Code Ann. § 57-1-60 Grants to finance, promote and advertise local tourist attractions.

The Department of Economic and Community Development, in its discretion, may establish a program of grants to be matched by tourism entities in the state to finance, promote and advertise local tourist attractions. Monies committed to the program of grants shall not lapse into the State General Fund at the end of a fiscal year. Any program of grants established under this section shall be in addition to those grants authorized by Chapter 27, Title 57, Mississippi Code of 1972.

Miss. Code Ann. § 57-1-61 Transfer of functions of travel and tourism department of agricultural and industrial board.

The staff and resources of the travel and tourism department of the agricultural and industrial board shall be, and are hereby transferred to the department of economic development.

Miss. Code Ann. § 57-1-63 Transfer of powers and duties of state agencies relating to promotion and advertising of tourism.

It is the intent of the Legislature that all powers and duties of any state agency relating to the promotion and advertising of tourism which are not provided for by statute shall be transferred to and vested in the department.

Miss. Code Ann. § 57-1-64 Selling advertising and tourism promotional information through various marketing outlets; Mississippi Development Authority Tourism Advertising Fund created.

The Mississippi Development Authority is authorized to sell advertising and other tourism promotional information through the Mississippi Development Authority Internet website and other marketing outlets, and to enter into agreements with tourism associations and similar entities for the purpose of making and facilitating sales through the use of such entities. Revenues received from such sales shall be placed into the special fund created in subsection (2) of this section. There is created a special fund in the State Treasury to be known as the Mississippi Development Authority Tourism Advertising 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. Monies in the fund may be used by the Mississippi Development Authority for the purpose of paying costs incurred in connection with the purchase of Internet advertising and other promotional information and materials related to Mississippi tourism resources and activities. The Mississippi Development Authority shall have all powers necessary to implement and administer the provisions of this section.

Miss. Code Ann. § 57-1-64.1 1 Mississippi Tourism Association Marketing Advisory Board created; composition.

There is hereby created a Mississippi Tourism Association Marketing Advisory Board to assist the Mississippi Development Authority in the planning of initiatives for advertising and promoting tourism in Mississippi. The advisory board shall be composed of the following members: The Executive Director of the Mississippi Tourism Association; and The members of the Mississippi Tourism Association Board of Directors, composed through the bylaws of the Mississippi Tourism Association as being geographically and ethnically diverse members from the five (5) tourism regions designated as the Hills, the Delta, the Capital/River, the Pines and the Coastal regions of Mississippi, and three (3) at-large members. Members of the advisory board may not be compensated for the performance of their duties. The advisory board will give input and advice to the Mississippi Development Authority’s Tourism Division on marketing and advertising planning, but shall have no executive powers at the Mississippi Development Authority.

Miss. Code Ann. § 57-1-65 General powers and duties with respect to marketing.

The Mississippi Department of Economic Development shall have the following general powers and duties with respect to marketing: To promote and stimulate the development of new markets for Mississippi products and goods. To encourage the establishment of industrial operations to process agricultural and forestry raw products to an end-product stage, ready for sale to the markets of the nation and the world; and To coordinate all studies in the State of Mississippi concerned with the development of markets for Mississippi products and goods.

Miss. Code Ann. § 57-1-66 Production, licensing, etc., of promotional publications, materials, etc.; disposition of proceeds from licensing or sale.

The Department of Economic and Community Development is authorized to produce publications, booklets, brochures, directories, materials and merchandise for the purposes of promoting and marketing Mississippi and assisting businesses through the provision of information in printed form or on computer disk, and to license or sell such items for a fee; however, no public entity or any agency thereof established pursuant to the laws of this state shall be charged a fee for the provision of such items. The funds which are received from the licensing or sale of items described herein shall be paid into a special revolving fund which is hereby established in the State Treasury. Monies in this fund shall be expended as appropriated by the Legislature. Any monies remaining in the special fund at the close of a fiscal year shall not lapse into the State General Fund.

Miss. Code Ann. § 57-1-67 Planning and development district offices and directors.

The Mississippi Department of Economic Development, pursuant to contractual agreements with individual planning and development districts, may assign field office staff of the department to a planning and development district office. Planning and development district directors may be consulted by the department as any annual work programs for field office staff so assigned are prepared. Any such work programs shall be designed to address issues and projects of mutual interest to the department and districts and to the accomplishment of their respective economic development missions.

Miss. Code Ann. § 57-1-68 Program of grants to finance and promote local economic development.

The Department of Economic and Community Development, in its discretion, may establish a program of grants to be matched by economic development entities in the state to finance and promote local economic development. Monies committed to the program of grants shall not lapse into the State General Fund at the end of a fiscal year.

Miss. Code Ann. § 57-1-69 Cooperation with Mississippi Miss Hospitality, Inc., Miss Mississippi Pageant, Inc., and Mrs. Mississippi-America Pageant, Inc.

The Department of Economic and Community Development is authorized to cooperate with Mississippi Miss Hospitality, Inc., in the production of the Mississippi Miss Hospitality Pageant and with Miss Mississippi Pageant, Inc., in the production of the Miss Mississippi Pageant, and with Mrs. Mississippi-America Pageant, Inc., in the production of the Mrs. Mississippi Pageant, and in defraying expenses incurred by Miss Hospitality and Miss Mississippi and Mrs. Mississippi when making official appearances to represent this state, by expending in furtherance of such purposes any money appropriated or otherwise made available to the department therefor. Money received by the department for such purposes shall be deposited into a special fund which is hereby created in the State Treasury. Unexpended amounts remaining in such special fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned on amounts in such special fund shall be deposited to the credit of the special fund.

Miss. Code Ann. § 57-1-70 Miss Mississippi, Miss Hospitality and Mrs. Mississippi as official nongovernmental representatives of state.

The person selected as Miss Mississippi in the annual pageant sponsored by Miss Mississippi Pageant, Inc., and the person selected as Miss Hospitality in the annual Mississippi Miss Hospitality Pageant, and the person selected as Mrs. Mississippi in the annual Mrs. Mississippi Pageant, shall be the official nongovernmental representatives of the State of Mississippi, and shall be the only persons selected in pageants in the state who are recognized by the state as its official representatives in appearances made at functions, ceremonies or other activities on behalf of the state or for the promotion or goodwill of the state.

Miss. Code Ann. § 57-1-71 Declaration of intention; petition for certificate.

Any municipality located in two adjacent counties which forms a part of a municipal separate school district the territory of which is located in two adjacent counties which desires to enter into the establishment of an enterprise under the provisions of Sections 57-1-1 through 57-1-51, jointly with the territory forming a part of such municipal separate school district shall, by and through its governing authority, declare its intention of entering into such plan by resolution spread upon its minutes and shall jointly with the boards of supervisors of the counties affected file with the Mississippi Agricultural and Industrial Board, a petition for certificate of public convenience and necessity in the manner and for the purpose prescribed by Section 57-1-21, and the governing authority of such municipality is authorized to proceed under Sections 57-1-1 through 57-1-51, for and on behalf of the municipality and the municipal separate school district territory the same as if such territory were a part of said municipality.

Miss. Code Ann. § 57-1-73 Issuance of certificate; election.

Should the certificate of public convenience and necessity be issued by the Mississippi Agricultural and Industrial Board the governing authority of such municipality shall call an election in the municipality and in the territory outside the municipality in the manner and method for calling, conducting and holding elections provided in Section 57-1-25, and should two-thirds of the qualified electors residing in the municipality and voting in the election, and two-thirds of the qualified electors residing in the territory outside the municipality forming a part of the municipal separate school district of which such territory and municipality are a part and voting in the election, vote in favor of the enterprise, such municipal separate school district including the municipality shall be deemed a municipality within the meaning of Sections 57-1-1 through 57-1-51, and shall have all rights, powers and authority to act by and through the governing authority of such municipality granted to municipalities as defined in Sections 57-1-1 through 57-1-51 and by said sections.

Miss. Code Ann. § 57-1-75 Issuance of bonds; contracts.

The governing authority of the municipality as defined in Sections 57-1-71 and 57-1-73, subject to the 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. It shall not be necessary for contracts entered into by the governing authority of the municipality to be approved by the boards of supervisors of the counties having territory included in such municipal separate school district.

Miss. Code Ann. § 57-1-77 Execution of bonds; pledge of full faith and credit.

The bonds issued under Section 57-1-75 shall be issued and signed in the manner provided for the issuance of bonds by municipalities by Sections 57-1-1 through 57-1-51, and shall pledge the full faith and credit of the entire municipal separate school district for which said bonds are issued, including the municipality and the territory outside such municipality lying in adjoining supervisors districts of adjacent counties.

Miss. Code Ann. § 57-1-79 Depository.

The governing authority of such municipality as defined in Sections 57-1-71 and 57-1-73 shall designate a depository for the funds of the municipality in the same manner as county depositories are designated.

Miss. Code Ann. § 57-1-81 Tax levy.

On or before the first Monday of September of each year the governing authority of the municipality shall meet and levy a tax sufficient upon the taxable property of the territory, including the municipality, 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 bonds 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 governing authority of the municipality upon the taxable property of the territory, including the municipality located in their respective county. 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 governing authority of the municipality for deposit to the proper depository.

Miss. Code Ann. § 57-1-83 Rights and powers of municipality.

For the purpose of operating or engaging in the enterprise as authorized at the election held for that purpose the municipality herein authorized acting by and through its governing authority shall have all the rights, powers and authority granted to municipalities by Sections 57-1-1 through 57-1-51, to act for the territory comprising the municipal separate school district of which such municipality is a part.

Miss. Code Ann. § 57-1-101 Declaration of intention; petition for and issuance of certificate.

When a city, town or village and the supervisors district wherein such city, town or village is situated desire to enter jointly into the establishment of an industrial enterprise under the provisions of Sections 57-1-1 through 57-1-51, the governing body of such city, town or village and the board of supervisors of the county in which such supervisors district is situated shall each declare its intention of entering into such plan by resolution spread upon its minutes, and they shall jointly file with the Mississippi Agricultural and Industrial Board, a petition for a joint certificate of public convenience and necessity in the manner and for the purposes prescribed by Section 57-1-21. Such joint petition for such joint certificate of public convenience and necessity shall, in addition to any other information required to be furnished, set out the amount of bonds or other expenditures such city, town or village and such supervisors district propose separately to issue or make for such enterprise. The Mississippi Agricultural and Industrial Board is authorized and empowered to issue or refuse to issue such joint certificate of public convenience and necessity in accordance with the provisions of Section 57-1-21, except that such certificate when issued shall be entitled and be a joint certificate of public convenience and necessity. Where such a petition for a joint certificate is filed, the board, in addition to the findings prescribed by Section 57-1-21, shall before it issues such joint certificate also find and determine affirmatively that the aggregate bonded indebtedness of such city, town or village and such supervisors district incurred under the provisions of Sections 57-1-101 through 57-1-107, shall not exceed the aggregate of twenty per cent (20%) of the total assessed valuation of all the property in the city, town or village, computed as in the case of an application by such city, town or village alone, plus twenty percent (20%) of the total assessed valuation of all the property in the supervisors district.

Miss. Code Ann. § 57-1-103 Election.

Should such joint certificate of public convenience and necessity be issued by the Mississippi Agricultural and Industrial Board, the governing authority of such city, town or village shall direct the holding of an election in the manner provided as to it by Section 57-1-25, and the board of supervisors of the county in which such supervisors district is situated shall direct the holding of a separate election in such supervisors district in the manner provided by Section 57-1-25 for such elections. In the event the proposal be approved as required by Section 57-1-25, both in the election for the supervisors district and in the election for the city, town or village, computed and declared separately, then the board of supervisors and the governing authority of such city, town or village, respectively, may issue the bonds authorized by said elections, respectively, as provided by the aforesaid Sections 57-1-1 through 57-1-51.

Miss. Code Ann. § 57-1-105 Powers and rights of city, town or village and supervisors district.

When a city, town or village and the supervisors district wherein such city, town or village is situated join for the establishment of an industrial enterprise under the provisions of Sections 57-1-101 through 57-1-107 they shall be and they are hereby authorized to exercise the powers conferred by Sections 57-1-1 through 57-1-51; and for the purpose of carrying out such joint industrial enterprise, all provisions of Sections 57-1-1 through 57-1-51, so far as the same are applicable, shall apply to all proceedings by such city, town or village and to all proceedings by such board of supervisors for the county in which such supervisors district is situated. The city, town or village and the supervisors district so joining shall have each an undivided interest in the industrial enterprise, including any land acquired for such purpose, in the same proportion as the amount of bonds issued by each bears to the total issued by both.

Miss. Code Ann. § 57-1-107 Contracts.

When a city, town or village and the supervisors district wherein such city, town or village is situated join as provided in Sections 57-1-101 through 57-1-107 for the establishment of an industrial enterprise under the provisions of said sections, they shall be and are hereby authorized to contract jointly for the acquisition of land and to jointly enter into contracts for the purpose of establishing, operating, maintaining or leasing such industrial enterprise, including contracts for the construction thereof; or they may, by agreement adopted by resolution spread upon the minutes of the governing authority of such city, town or village and upon the minutes of the board of supervisors of the county, authorize either the governing authority of such city, town or village or the board of supervisors to enter into such contracts for and on behalf of both.

Miss. Code Ann. § 57-1-131 Declaration of intention; petition for certificate; constitution of board of commissioners; petition of electors.

When two or more adjoining supervisors districts of adjacent counties which desire to enter jointly into the establishment of an enterprise under the provisions of Sections 57-1-1 through 57-1-51, the board of supervisors of each county shall declare its intention of entering into such plan by resolution spread upon its minutes and shall jointly with the boards of supervisors of the counties affected file with the Mississippi Agricultural and Industrial Board, a petition for a certificate of public convenience and necessity in the manner and for the purposes prescribed by Section 57-1-21, and the board of supervisors of each county affected shall name two commissioners who, together with the commissioners appointed by the other counties acting jointly with them, shall constitute a board of commissioners for the purpose of proceeding the same as if the supervisors districts of the adjacent counties were within the same county. A petition bearing the signatures of a majority of the qualified electors of a supervisors district filed with the chancery clerk, shall make it the mandatory duty of the board of supervisors of the county to pass the necessary resolution, appoint the commissioners and perform all other duties and functions necessary for the establishment of the enterprise.

Miss. Code Ann. § 57-1-133 Election.

Should a certificate of public convenience and necessity be issued by the Mississippi Agricultural and Industrial Board, the boards of supervisors of each of the counties affected shall call an election in each of the supervisors districts affected in the manner and method for calling, conducting and holding elections provided in Section 57-1-25, and should two-thirds of the qualified electors residing in each of the supervisors districts affected voting in the election, vote in favor of the enterprise, the supervisors districts included in the petition for public convenience and necessity shall be deemed a municipality within the meaning of Sections 57-1-1 through 57-1-51, and shall have all rights, powers and authority granted to municipalities as defined in said sections and by said sections.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.”

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 57-1-201 Repealed.

Repealed by Laws, 1981, ch. 441, § 9, eff from and after July 1, 1985. [Laws, 1981, ch. 441, §§ 1-8]

Miss. Code Ann. § 57-1-221 Mississippi Industry Incentive Financing Revolving Fund created; use of funds; application for grant or loan.

As used in this section: “Approved business enterprise” means any project that: Locates or expands in this state and creates a minimum of two hundred fifty (250) new, full-time jobs with a total capital investment in the state of a minimum of Thirty Million Dollars ($30,000,000.00) in Tier 1 or Tier 2 counties; Locates or expands in this state and creates a minimum of one hundred fifty (150) new, full-time jobs with a total capital investment in the state of a minimum of Fifteen Million Dollars ($15,000,000.00) in areas federally designated as low-income census tracts; Locates or expands in this state and creates a minimum of one thousand (1,000) new, full-time jobs; Is a manufacturer of high-end kitchen appliances having at least four hundred (400) employees working at its Mississippi facilities on January 1, 2015, and with a capital investment of at least Five Million Dollars ($5,000,000.00) made after July 1, 2014, through four (4) years after July 1, 2015, that expands in this state, and retains a minimum of four hundred (400) jobs; or Locates or expands in this state with significant regional impact as determined by MDA. “MDA” means the Mississippi Development Authority. “Facility related to the project” means and includes any of the following, as they may pertain to the project: Facilities to provide potable and industrial water supply systems, sewage and waste disposal systems and water, natural gas and electric transmission systems to the site of the project; Building facilities and equipment necessary to operate the facility; Rail lines; Airports, airfields, air terminals and port facilities; Highways, streets and other roadways; and Fire protection facilities, equipment and elevated water tanks. “Project” means any industrial, commercial, research and development, warehousing, distribution, transportation, processing, mining, United States government or tourism enterprise together with all real property required for construction, maintenance and operation of the enterprise that is approved by the MDA. There is created a special fund in the State Treasury to be known as the Mississippi Industry Incentive Financing Revolving 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 interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be disbursed by the Mississippi Development Authority for the purposes authorized in subsection (3) of this section. Monies in the fund that are derived from the proceeds of general obligation bonds may be used to reimburse reasonable actual and necessary costs incurred by the MDA for the administration of the various grant, loan and financial incentive programs administered by the MDA. An accounting of actual costs incurred for which reimbursement is sought shall be maintained by the MDA. Reimbursement of reasonable actual and necessary costs shall not exceed three percent (3%) of the proceeds of bonds issued. Reimbursements made under this subsection shall satisfy any applicable federal tax law requirements. The MDA shall establish a program to make grants or loans from the Mississippi Industry Incentive Financing Revolving Fund to local governments, including, but not limited to, counties, municipalities, industrial development authorities and economic development districts, and approved business enterprises to construct or otherwise provide facilities related to the project. Local governments are authorized to accept grants and enter into loans authorized under the program, and to sell, lease or otherwise dispose of a project or any property related to the project in whole or in part. Any business enterprise or local government desiring a grant or loan under this section shall submit an application to the MDA which shall include, at a minimum: Evidence that the business or industry meets the definition of an approved business enterprise; A description, including the cost, of the requested assistance; A description of the purpose for which the assistance is requested; and Any other information required by the MDA. The MDA shall require that binding commitments be entered into requiring that: The minimum requirements of this section and such other requirements as the MDA considers proper shall be met; and If such requirements are not met, all or a portion of the funds provided by this section as determined by the MDA shall be repaid. Upon receipt of the application from a business enterprise or local government for a grant or loan under this section, the MDA shall determine whether the enterprise meets the definition of an approved business enterprise and determine whether to provide the assistance requested in the form of a grant or a loan. The MDA shall have sole discretion in providing grants or loans under this section. The terms of a grant or loan provided under this section and the manner of repayment of any loan shall be within the discretion of the MDA. Repayments of loans made under this section shall be deposited to the credit of the Mississippi Industry Incentive Financing Revolving Fund until the uncommitted balance in the fund reaches Fifty Million Dollars ($50,000,000.00). Once the uncommitted balance in the fund reaches Fifty Million Dollars ($50,000,000.00), repayments of loans under this section shall be deposited to the credit of Fund No. 3951 in the State Treasury to pay debt service on bonds until such time as the uncommitted balance in the fund falls below Fifty Million Dollars ($50,000,000.00). The MDA shall notify the Chairman of the Senate Finance Committee and the Chairman of the House Ways and Means Committee of the approval of any grant or loan application thirty (30) days prior to the disbursement of any monies for the loan or grant from the Mississippi Industry Incentive Financing Revolving Fund. The notification shall identify the applicant and the purposes for which the loan or grant is made. Contracts, by local governments, including, but not limited to, design and construction contracts, for the acquisition, purchase, construction or installation of a project shall be exempt from the provisions of Section 31-7-13 if: The MDA finds and records such finding on its minutes, that because of availability or the particular nature of a project, it would not be in the public interest or would less effectively achieve the purposes of this section to enter into such contracts on the basis of Section 31-7-13; and The approved business enterprise that is involved in the project concurs in such finding. When the requirements of paragraph (a) of this subsection are met: The requirements of Section 31-7-13 shall not apply to such contracts; and The contracts may be entered into on the basis of negotiation. It is the policy of the MDA and the MDA is authorized to accommodate and support any enterprise that receives a loan under this section for a project defined in Section 17-25-23 that wishes to have a program of diversity in contracting, and/or that wishes to do business with or cause its prime contractor to do business with Mississippi companies, including those companies that are small business concerns owned and controlled by socially and economically disadvantaged individuals. The term “socially and economically disadvantaged individuals” shall have the meaning ascribed to such term under Section 8(d) of the Small Business Act (15 USCS 637(d)) and relevant subcontracting regulations promulgated pursuant thereto; except that women shall be presumed to be socially and economically disadvantaged individuals for the purposes of this subsection. The MDA shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, for the implementation of this section.

Miss. Code Ann. § 57-1-251 Definitions.

Words and phrases used in Sections 57-1-251 through 57-1-261 shall have meanings as follows, unless the context clearly indicates a different meaning: “Bonds” means general obligation bonds, interim notes and other evidences of debt of the State of Mississippi issued pursuant to Sections 57-1-251 through 57-1-261. “Department” means the Department of Economic and Community Development. “Facility related to the project” means and includes any of the following, as the same may pertain to the project: (i) facilities to provide potable and industrial water supply systems and sewage and waste disposal systems to the site of the project; (ii) airports, airfields and air terminals; (iii) rail lines; (iv) port and marine terminal facilities; (v) pipelines; (vi) storage facilities; (vii) highways, streets and other roadways, including curbing, guttering and storm water sewers; (viii) public school buildings, classrooms and instructional facilities, day care centers, including any functionally related facilities; (ix) parks, outdoor recreation facilities and athletic facilities; (x) auditoriums, pavilions, campgrounds, art centers, cultural centers, folklore centers and other public facilities; (xi) health care facilities, public or private; (xii) buildings and appurtenances used in support of the project; (xiii) security systems, fire suppression and prevention systems, utility distribution systems; and (xiv) on-site utilities, including, but not limited to, electricity, natural gas, telephone and other telecommunications facilities. “Person” means any natural person, corporation, association, partnership, receiver, trustee, guardian, executor, administrator, fiduciary, governmental unit, public agency, political subdivision, or any other group acting as a unit, and the plural as well as the singular. “Project” means the Strategic Petroleum Reserve, proposed to be constructed by the Department of Energy, any successor agency thereto, or a private entity engaged in the business of purchasing, storing, and offering for sale or resale, petroleum products or natural gas, together with all real property required for construction, maintenance and operation of the Strategic Petroleum Reserve, and all building, tunneling and other supporting land facilities required or useful for construction, maintenance and operation of the Strategic Petroleum Reserve; or any project specifically designed to produce, manufacture, mine, or temporarily store a source of energy, either as primary energy or as a secondary energy for distribution or sale, or both, to persons located at or near the site of production, manufacture, mining, or storage, when such production, manufacturing, mining and temporary storage activities are limited to the indigenous natural resources of the state, including oil, natural gas, lignite and other coal resources, bioenergy resources, salt domes, depleted underground reservoirs and aquifers suited for the temporary storage of hydrocarbons to be used as primary energy sources. “Public agency” means and includes: Any department, board, commission, institution or other agency or instrumentality of the state; Any city, town, county, political subdivision, school district or other district created or existing under the laws of the state or any public agency of any such city, town, county, political subdivision or district; Any department, commission, agency or instrumentality of the United States of America; and Any other state of the United States of America which may be cooperating with respect to location of the project within the state, or any agency thereof. “State” means State of Mississippi.

Miss. Code Ann. § 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.

Miss. Code Ann. § 57-1-255 Bonds and notes; Major Energy Project Development Fund.

Upon notification to the department by the enterprise that the state has been finally selected as the site for the project, the State Bond Commission shall have the power and is hereby authorized and directed, upon receipt of a declaration from the department as hereinafter provided, to borrow money and issue general obligation bonds of the state in one or more series for the purposes herein set out. Upon such notification, the department may thereafter from time to time declare the necessity for the issuance of general obligation bonds as authorized by this section and forward such declaration to the State Bond Commission, provided that prior to said notification, the department may enter into agreements with the United States government, private companies and others that will commit the department to direct the State Bond Commission to issue bonds for eligible undertakings set out in subsection (4) of this section, conditioned on the siting of the project in the state. Upon receipt of any such declaration from the department, the State Bond Commission, upon verifying that the state has been selected as the site of the project, shall act as the issuing agent for the series of bonds directed to be issued in such declaration pursuant to authority granted in this section. Bonds issued under the authority of this section shall not exceed an aggregate principal amount in the sum of Thirty Million Dollars ($30,000,000.00). No bonds shall be issued under the authority of this section after June 30, 2000. The proceeds from the sale of the bonds issued pursuant to this section may be applied for the purposes of: (a) defraying all or any designated portion of the costs incurred with respect to acquisition, planning, design, construction, installation, rehabilitation, improvement and relocation of the project and any facility related to the project, including costs of design and engineering, all costs incurred to provide land, easements and rights-of-way, relocation costs with respect to the project and with respect to any facility related to the project located within the project area, and costs associated with mitigation of environmental impacts; (b) providing for the payment of interest on the bonds; (c) providing debt service reserves; and (d) paying underwriters discount, original issue discount, accountants’ fees, engineers’ fees, attorney’s fees, rating agency fees and other fees and expenses in connection with the issuance of the bonds. Such bonds shall be issued from time to time and in such principal amounts as shall be designated by the department not to exceed in aggregate principal amount the amount authorized in subsection (3) of this section. Proceeds from the sale of the bonds issued pursuant to this section may be invested, subject to federal limitations, pending their use, in such securities as may be specified in the resolution authorizing the issuance of the bonds or the trust indenture securing them, and the earning on such investment applied as provided in such resolution or trust indenture. The principal of and the interest on the bonds shall be payable in the manner hereinafter set forth. The bonds shall bear date or dates, be in such denomination or denominations, bear interest at such rate or rates, be payable at such place or places within or without the state, shall mature absolutely at such time or times, be redeemable prior to 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. Provided, however, that such bonds shall mature or otherwise be retired in annual installments beginning not more than five (5) years from date thereof and extending not more than twenty-five (25) years from date thereof. The bonds shall be signed by the Chairman of the State Bond Commission, or by his facsimile signature, and the official seal of the State Bond Commission shall be imprinted on or affixed thereto, attested by the manual or facsimile signature of the Secretary of the State Bond Commission. Whenever any such bonds shall have been signed by the officials herein designated to sign the bonds, who were in office at the time of such signing but who may have ceased to be such officers prior to the sale and delivery of such bonds, or who may not have been in office on the date such bonds may bear, the signatures of such officers upon such bonds 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 the delivery of the same to the purchaser, or had been in office on the date such bonds may bear. All bonds issued under the provisions of this section shall be and are hereby declared to have all the qualities and incidents of negotiable instruments under the provisions of the Uniform Commercial Code and in exercising the powers granted by Sections 57-1-251 through 57-1-261, the State Bond Commission shall not be required to and need not comply with the provisions of the Uniform Commercial Code. The State Bond Commission shall sell the bonds on sealed bids at public sale, and for such price as it may determine to be for the best interest of the State of Mississippi, but no such sale shall be made at a price less than par plus accrued interest to date of delivery of the bonds to the purchaser. The bonds shall bear interest at such rate or rates not exceeding the limits set forth in Section 75-17-101, as shall be fixed by the State Bond Commission. All interest accruing on such bonds so issued shall be payable semiannually or annually; provided that the first interest payment may be for any period of not more than one (1) year. Notice of the sale of any bond shall be published at least one (1) time, the first of which shall be made not less than ten (10) days prior to the date of sale, and shall be so published in one or more newspapers having a general circulation in the City of Jackson and in one or more other newspapers or financial journals with a large national circulation, to be selected by the State Bond Commission. The State Bond Commission, when issuing any bonds under the authority of this section, may provide that the bonds, at the option of the state, may be called in for payment and redemption at the call price named therein and accrued interest on such date or dates named therein. State bonds issued under the provisions of this section shall be the general obligations of the state and backed by the full faith and credit of the state, and if the funds appropriated by the Legislature shall be 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 bonds shall contain recitals on their faces substantially covering the foregoing provisions of this section. The State Treasurer is hereby authorized, without further process of law, to certify to the Department of Finance and Administration the necessity for warrants, and the Department of Finance and Administration is hereby authorized and directed to issue such warrants payable out of any funds authorized by this section for such purpose, in such amounts as may be necessary to pay when due the principal of and interest on all bonds issued under the provisions of this section; 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. The bonds 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 57-1-251 through 57-1-261. Any resolution providing for the issuance of general obligation bonds under the provisions of this section 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. In anticipation of the issuance of bonds hereunder, the State Bond Commission is hereby authorized to negotiate and enter into any purchase, loan, credit or other agreement with any bank, trust company or other lending institution or to issue and sell interim notes for the purpose of making any payments authorized under this section. All borrowings made under this provision shall be evidenced by notes of the state which shall be issued from time to time, for such amounts not exceeding the amount of bonds authorized herein, in such form and in such denomination and subject to such terms and conditions of sale and issuance, prepayment or redemption and maturity, rate or rates of interest not to exceed the maximum rate authorized herein for bonds, and time of payment of interest as the State Bond Commission shall agree to in such agreement. Such notes shall constitute general obligations of the state and shall be backed by the full faith and credit of the state. Such notes may also be issued for the purpose of refunding previously issued notes; provided that no notes shall mature more than three (3) years following the date of issuance of the first note hereunder and provided further, that all outstanding notes shall be retired from the proceeds of the first issuance of bonds hereunder. The State Bond Commission is authorized to provide for the compensation of any purchaser of the notes by payment of a fixed fee or commission and for all other costs and expenses of issuance and service, including paying agent costs. Such costs and expenses may be paid from the proceeds of the notes. The bonds and interim notes authorized under the authority of this section may be validated in the First Judicial District of the Chancery Court of Hinds County, Mississippi, in the manner and with the force and effect provided now or hereafter by Chapter 13, Title 31, Mississippi Code of 1972, for the validation of county, municipal, school district and other bonds. The necessary papers for such validation proceedings shall be transmitted to the State Bond Attorney, and the required notice shall be published in a newspaper published in the City of Jackson, Mississippi. Any bonds or interim notes issued under the provisions of Sections 57-1-251 through 57-1-261, a transaction relating to the sale or securing of such bonds or interim notes, their transfer and the income therefrom shall at all times be free from taxation by the state or any local unit or political subdivision or other instrumentality of the state, excepting inheritance and gift taxes. All bonds issued pursuant to Sections 57-1-251 through 57-1-261 shall be legal investments for trustees, other fiduciaries, savings banks, trust companies and insurance companies organized under the laws of the State of Mississippi; and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies of the state and all municipalities and other political subdivisions thereof for the purpose of securing the deposit of public funds. There is hereby created a special fund in the State Treasury to be known as the “Major Energy Project Development Fund” wherein shall be deposited the proceeds of the bonds issued under Sections 57-1-251 through 57-1-261 and all monies received by the department to carry out the purposes of such sections. Expenditures authorized herein shall be paid by the State Treasurer upon warrants drawn from the fund, and the Department of Finance and Administration shall issue warrants upon requisitions signed by the director of the department. There is hereby created the “Major Energy Project Development Sinking Fund” from which the principal of and interest on such bonds shall be paid by appropriation. All monies paid into the sinking fund not appropriated to pay accruing bonds and interest shall be invested by the State Treasurer in such securities as are provided by law for the investment of the sinking funds of the state. In the event that all or any part of the bonds and notes are purchased, they shall be canceled and returned to the loan and transfer agent as canceled and paid bonds and notes and thereafter all payments of interest thereon shall cease and the canceled bonds, notes and coupons, together with any other canceled bonds, notes and coupons, shall be destroyed as promptly as possible after cancellation but not later than two (2) years after cancellation. A certificate evidencing the destruction of the canceled bonds, notes and coupons shall be provided by the loan and transfer agent to the seller. The State Treasurer shall determine and report to the Department of Finance and Administration and Legislative Budget Office by September 1 of each year the amount of money necessary for the payment of the principal of and interest on outstanding obligations for the following fiscal year and the times and amounts of the payments. It shall be the duty of the Governor to include in every executive budget submitted to the Legislature full information relating to the issuance of bonds and notes under the provisions of Sections 57-1-251 through 57-1-261 and the status of the sinking fund for the payment of the principal of and interest on the bonds and notes.

Miss. Code Ann. § 57-1-257 Acts of public agencies authorized for purpose of planning, design, undertaking, and carrying out project.

For the purpose of aiding in the planning, design, undertaking and carrying out of the project or any facility related to the project, any public agency is authorized and empowered upon such terms, with or without consideration, as it may determine: (a) to enter into agreements, which may extend over any period, with the department respecting action to be taken by such public agency with respect to the acquisition, planning, construction, improvement, operation, maintenance or funding of the project or any such facility, and which agreements may include (i) the appropriation or payment of funds to the department or to a trustee in amounts which shall be sufficient to enable the department to defray any designated portion or percentage of the expenses of administering, planning, designing, constructing, acquiring, improving, operating, and maintaining the project or any facility related to the project, (ii) the appropriation or payment of funds to the department or to a trustee to pay interest and principal (whether at maturity or upon sinking fund redemption) on bonds of the department issued pursuant to Sections 57-1-251 through 57-1-261 and to fund reserves for debt service, for operation and maintenance and for renewals and replacements, and to fulfill requirements of any covenant with respect to debt service contained in any resolution, trust indenture or other security agreement relating to the bonds of the department issued pursuant to Sections 57-1-251 through 57-1-261 and (iii) the furnishing of other assistance in connection with the project or facility related to the project; (b) to dedicate, sell, donate, convey or lease any property or interest in property to the department or grant easements, licenses or other rights or privileges therein to the department; (c) to incur the expense of any public improvements made or to be made by such public agency in exercising the powers granted in this section; (d) to lend, grant or contribute funds to the department; (e) to cause public buildings and public facilities, including parks, playgrounds, recreational areas, community meeting facilities, water, sewer or drainage facilities, or any other works which it is otherwise empowered to undertake, to be furnished to or with respect to the project or any such facility; (f) to furnish, dedicate, close, vacate, pave, install, upgrade or improve highways, streets, roads, sidewalks, airports, railroads, or ports; (g) to plan or replan, zone or rezone any parcel of land within the public agency or make exceptions from land use, building and zoning regulations; and (h) to cause administrative and other services to be furnished to the department, including services pertaining to the acquisition of real property and the furnishing of relocation assistance. Any contract between a public agency entered into with the department pursuant to any of the powers granted by Sections 57-1-251 through 57-1-261 shall be binding upon said public agency according to its terms, and such public agency shall have the power to enter into such contracts as in the discretion of the governing authorities thereof would be to the best interest of the people of such public agency. Such contracts may include within the discretion of such governing authorities of public agencies defined under Section 57-1-251(f)(ii) a pledge of the full faith and credit of such public agency for the performance thereof. If at any time title to or possession of the project or any such facility is held by any public body or governmental agency other than the department, including any agency or instrumentality of the United States of America, the agreements referred to in this section shall inure to the benefit of and may be enforced by such public body or governmental agency. Notwithstanding any provisions of Sections 57-1-251 through 57-1-261 to the contrary, any contract entered into between the department and any public agency for the appropriation or payment of funds to the department under item (a)(ii) of this section shall contain a provision therein requiring monthly payments by the public agency to pay its indebtedness and, if the public agency is not a county or municipality, such contract shall include as an additional party to the contract the county or municipality (referred to in this paragraph as “levying authority”) that levies and collects taxes for the contracting public agency. If the public agency fails to pay its indebtedness for any month, the department shall certify to the State Tax Commission, or other appropriate agency, the amount of the delinquency, and the State Tax Commission shall deduct such amount from the public agency’s or levying authority’s, as the case may be, next allocation of sales taxes, petroleum taxes, highway privilege taxes, severance taxes, Tennessee Valley Authority payments in lieu of taxes and homestead exemption reimbursements in that order of priority. The State Tax Commission, or other appropriate agency, shall pay the sums so deducted to the department to be applied to the discharge of the contractual obligation.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 57-1-301 Local governments capital improvements revolving loan program established; “capital improvements” defined.

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. For purposes of Sections 57-1-301 through 57-1-335, “capital improvements” include any combination of the following: Construction or repair of water and sewer facilities; Construction or repair of drainage systems for industrial development; Improvements in fire protection; Construction of new buildings for economic development purposes; Renovation or repair of existing buildings for economic development purposes; Construction or repair of access roads for industrial development; Purchase of buildings for economic development purposes; Construction or repair of railroad spurs for industrial development; Construction of any county or municipally owned health care facilities, excluding any county health departments; Construction, purchase, renovation or repair of any building to be utilized as an auditorium or convention center; Construction of multipurpose facilities for tourism development; Loans to a county to aid in retiring interest-bearing loans utilized for the purchase of a motion picture sound stage; Construction, repair and renovation of parks, swimming pools and recreational and athletic facilities; or Remediation of brownfield agreement sites in accordance with Sections 49-35-1 through 49-35-25.

Miss. Code Ann. § 57-1-303 Local Governments Capital Improvements Revolving Loan Fund; loan program; pledge for repayment of loan by county or municipality; audit of county or municipality where loan payments in arrears; applicability of debt limitations; renegotiation of certain loans [Subsection (1)(a)(ii) repealed effective July 1, 2022].

(i) There is created a special fund in the State Treasury to be designated as the “Local Governments Capital Improvements Revolving Loan Fund,” which fund shall consist of such monies as provided in Sections 57-1-307 through 57-1-335. The fund shall be maintained in perpetuity for the purposes established in Sections 57-1-301 through 57-1-335. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund may not be used or expended for any purpose except as authorized under Sections 57-1-301 through 57-1-335. Monies in the Local Governments Capital Improvements Revolving Loan Fund which are derived from interest on loan payments received by the Mississippi Development Authority after January 1, 2002, for loans funded with proceeds of bonds whose interest is not exempt from income taxation under the provisions of the Internal Revenue Code may be used by the Mississippi Development Authority for the ordinary and necessary general support of the Mississippi Development Authority. However, such monies may not be used for the purpose of providing salary increases for Mississippi Development Authority employees. The Mississippi Development Authority may escalate its budget and expend such monies in accordance with rules and regulations of the Department of Finance and Administration in a manner consistent with the escalation of federal funds. This subparagraph (ii) shall be repealed from and after July 1, 2022. The Local Governments Capital Improvements Revolving Loan Fund shall be divided into the Taxable Local Governments Capital Improvements Revolving Loan Subaccount and the Nontaxable Local Governments Capital Improvements Revolving Loan Subaccount. Funds allocated to the Nontaxable Local Governments Capital Improvements Revolving Loan Subaccount shall be utilized 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. Funds allocated to the Taxable Local Governments Capital Improvements Revolving Loan Subaccount shall be utilized to provide loans for any eligible capital improvements, including, but not limited to, 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. Of the funds deposited into the Local Governments Capital Improvements Revolving Loan Fund, not less than Twenty-five Million Dollars ($25,000,000.00) shall be allocated to the Nontaxable Local Governments Capital Improvements Revolving Loan Subaccount, and the remainder of such funds shall be allocated to the Taxable Local Governments Capital Improvements Revolving Loan Subaccount. A county or an incorporated municipality may apply to the Mississippi Development Authority for a loan under the local governments capital improvements revolving loan program established under Sections 57-1-301 through 57-1-335. The Mississippi Development Authority shall establish a loan program by which loans, at the rate of interest provided for in paragraph (b) of this subsection, may be made available to counties and incorporated municipalities to assist counties and incorporated municipalities in making capital improvements. Loans from the revolving fund may be made to counties and municipalities as set forth in a loan agreement in amounts not to exceed one hundred percent (100%) of eligible project costs as established by the Mississippi Development Authority. The Mississippi Development Authority may require county or municipal participation or funding from other sources, or otherwise limit the percentage of costs covered by loans from the revolving fund. The Mississippi Development Authority may establish a maximum amount for any loan in order to provide for broad and equitable participation in the program and loans for projects described in Section 57-1-301(1)(m) shall not exceed Two Hundred Fifty Thousand Dollars ($250,000.00) per project. Except as otherwise provided in this paragraph (b), the rate of interest on loans made from the Local Governments Capital Improvements Revolving Loan Fund 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 shall be at the rate of three percent (3%) per annum, calculated according to the actuarial method. The rate of interest on loans for all other capital improvements shall be at the true interest cost on the most recent issue of twenty-year state general obligation bonds occurring prior to the date such loan is made. The rate of interest on loans made after April 9, 2002, from the Local Governments Capital Improvements Revolving Loan Fund 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 shall be at the rate of the lesser of two percent (2%) per annum, calculated according to the actuarial method, or the true interest cost on the most recent issue of state general obligation bonds occurring prior to the date such loan is made. The rate of interest on loans made after April 9, 2002, for all other capital improvements shall be at the rate of three percent (3%) per annum, calculated according to the actuarial method. Notwithstanding the provisions of this paragraph to the contrary, loans made for the purposes of the capital project described in Section 57-1-301(2)(l) shall bear no interest. A county that receives a loan from the revolving fund shall pledge for repayment of the loan any part of the homestead exemption annual tax loss reimbursement to which it may be entitled under Section 27-33-77. An incorporated municipality that receives a loan from the revolving fund shall pledge for repayment of the loan any part of the sales tax revenue distribution to which it may be entitled under Section 27-65-75. Each loan agreement shall provide for (i) monthly payments, (ii) semiannual payments, or (iii) other periodic payments, the annual total of which shall not exceed the annual total for any other year of the loan by more than fifteen percent (15%). The loan agreement shall provide for the repayment of all funds received within not more than twenty (20) years from the date of project completion. The State Auditor, upon request of the Mississippi Development Authority, shall audit the receipts and expenditures of a county or an incorporated municipality whose loan payments appear to be in arrears, and if he finds that the county or municipality is in arrears in such payments, he shall immediately notify the Executive Director of the Department of Finance and Administration who shall withhold all future payments to the county of homestead exemption reimbursements under Section 27-33-77 and all sums allocated to the county or the municipality under Section 27-65-75 until such time as the county or the municipality is again current in its loan payments as certified by the Mississippi Development Authority. Evidences of indebtedness which are issued pursuant to this chapter shall not be deemed indebtedness within the meaning specified in Section 21-33-303 with regard to cities or incorporated towns, and in Section 19-9-5 with regard to counties. There is created a special fund in the State Treasury to be designated as the “Local Governments Brownfields Redevelopment Grant Fund.” The fund shall consist of those monies as provided in Section 57-1-307. Unexpended amounts remaining in the fund at the end of the fiscal year shall not lapse into the State General Fund, and any interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund may not be used or expended for any purpose except as authorized in this section. From and after July 1, 2009, the Local Governments Brownfields Redevelopment Grant Fund is abolished and all money in the fund shall be transferred to the Local Governments Capital Improvements Revolving Loan Fund. The Mississippi Development Authority may, on a case-by-case basis, renegotiate the payment of principal and interest on loans made under Sections 57-1-301 through 57-1-335 to the six (6) most southern counties of the state covered by the Presidential Declaration of Major Disaster for the State of Mississippi (FEMA-1604-DR) dated August 29, 2005, and to political subdivisions located in such counties; however, the interest on the loans shall not be forgiven for a period of more than twenty-four (24) months and the maturity of the loans shall not be extended for a period of more than forty-eight (48) months.

Miss. Code Ann. § 57-1-305 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: To supervise the use of all funds made available under Sections 57-1-301 through 57-1-335 for local governments capital improvements; 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; 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; To insure 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; To maintain an accurate record of all local governments capital improvements funds made available to counties and municipalities and the costs for each project. 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 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.

Miss. Code Ann. § 57-1-307 Bonds; resolution for issuance; disposition of bond sale proceeds and investment earnings generally.

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. 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 57-1-351 Definitions.

Words and phrases used in Sections 57-1-351 through 57-1-369 shall have meanings as follows, unless the context clearly indicates a different meaning: “Bonds” means general obligation bonds, interim notes and other evidences of debt of the State of Mississippi issued pursuant to Sections 57-1-351 through 57-1-369. “DECD” means the Department of Economic and Community Development. “Facility related to the project” means and includes any of the following, as the same may pertain to the project within the project area: (i) facilities to provide potable and industrial water supply systems, sewage and waste disposal systems and water, natural gas and electric transmission systems to the site of the project; (ii) airports, airfields and air terminals; (iii) rail lines; (iv) port facilities; (v) highways, streets and other roadways; (vi) public school buildings, classrooms and instructional facilities, including any functionally related facilities; (vii) parks, outdoor recreation facilities and athletic facilities; (viii) auditoriums, pavilions, campgrounds, art centers, cultural centers, folklore centers and other public facilities; and (ix) health care facilities, public or private. “Person” means any natural person, corporation, association, partnership, receiver, trustee, guardian, executor, administrator, fiduciary, governmental unit, public agency, political subdivision, or any other group acting as a unit, and the plural as well as the singular. “Project” means any private company developed under the name “Project Cougar” that is a heavy manufacturing enterprise which will be located on more than two hundred fifty (250) acres of land, will require a building that contains in excess of five hundred thousand (500,000) square feet and will employ in excess of one thousand (1,000) people at the facility in a full-time capacity. “Project area” means the project site, together with any area or territory within the state lying within fifteen (15) miles of any portion of the project site whether or not such area or territory be contiguous. The project area shall also include all territory within a county if any portion of such county lies within fifteen (15) miles of any portion of the project site. “Project site” means the real property on which the principal facilities of the enterprise will operate. “Public agency” means: Any department, board, commission, institution or other agency or instrumentality of the state; Any city, town, county, political subdivision, school district or other district created or existing under the laws of the state or any public agency of any such city, town, county, political subdivision or district; Any department, commission, agency or instrumentality of the United States of America; and Any other state of the United States of America which may be cooperating with respect to location of the project within the state, or any agency thereof. “State” means State of Mississippi.

Miss. Code Ann. § 57-1-353 DECD submission of siting proposal; public agency cooperation and concurrence.

DECD is hereby designated and empowered to act on behalf of the state in submitting a siting proposal for the project eligible for assistance under Sections 57-1-351 through 57-1-369. DECD 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, DECD 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. DECD 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 DECD; however, the development of the project or any facility related to the project by DECD may be done only with the concurrence of the affected public agency.

Miss. Code Ann. § 57-1-355 DECD powers concerning projects.

DECD, in addition to any and all powers now or hereafter granted to it, is empowered and shall exercise discretion and the use of these powers depending on the circumstances of the project or projects: To employ or contract with architects, engineers, attorneys, accountants, construction and financial experts and such other advisors, consultants and agents as may be necessary in its judgment and to fix and pay their compensation. To make such applications and enter into such contracts for financial assistance as may be appropriate under applicable federal or state law. To apply for, accept and utilize grants, gifts and other funds or aid from any source for any purpose contemplated by Sections 57-1-351 through 57-1-369, and to comply, subject to the provisions of Sections 57-1-351 through 57-1-369, with the terms and conditions thereof. To acquire by purchase or lease any public lands and public property, including sixteenth section lands and lieu lands, within the project area, which are necessary for the project. Sixteenth section lands or lieu lands acquired under Sections 57-1-351 through 57-1-369 shall be deemed to be acquired for the purposes of industrial development thereon and such acquisition will serve a higher public interest in accordance with the purposes of Sections 57-1-351 through 57-1-369. If DECD identifies any land owned by the state as being necessary, for the location or use of the project, or any facility related to the project, to recommend to the Legislature the conveyance of such land or any interest therein, as the Legislature deems appropriate. To make or cause to be made such examinations and surveys as may be necessary to the planning, design, construction and operation of the project. From and after the date of notification to DECD by the enterprise that the state has been finally selected as the site of the project, to acquire by condemnation and to own, maintain, use, operate and convey or otherwise dispose of any and all property of any kind, real, personal or mixed, or any interest or estate therein, within the project area, necessary for the project or any facility related to the project, with the concurrence of the affected public agency, and the exercise of the powers granted by Sections 57-1-351 through 57-1-369, according to the procedures provided by Chapter 27, Title 11, Mississippi Code of 1972, except as modified by Sections 57-1-351 through 57-1-369. In acquiring lands by condemnation, DECD shall not acquire minerals or royalties in minerals unless a competent registered professional engineer shall have certified that the acquisition of such minerals and royalties in minerals is necessary for purposes of the project; provided that limestone, clay, chalk, sand and gravel shall not be considered as minerals within the meaning of this section; and Unless minerals or royalties in minerals have been acquired by condemnation or otherwise, no person or persons owning the drilling rights or the right to share in production of minerals shall be prevented from exploring, developing, or producing oil or gas with necessary rights-of-way for ingress and egress, pipelines and other means of transporting interests on any land or interest therein of the authority held or used for the purposes of Sections 57-1-351 through 57-1-369; but any such activities shall be under such reasonable regulation by DECD as will adequately protect the project contemplated by Sections 57-1-351 through 57-1-369 as provided in paragraph (r) of this section. To negotiate the necessary relocation or rerouting of roads and highways, railroad, telephone and telegraph lines and properties, electric power lines, pipelines and related facilities, or to require the anchoring or other protection of any of these, provided due compensation is paid to the owners thereof or agreement is had with such owners regarding the payment of the cost of such relocation, and to acquire by condemnation or otherwise easements or rights-of-way for such relocation or rerouting and to convey the same to the owners of the facilities being relocated or rerouted in connection with the purposes of Sections 57-1-351 through 57-1-369. To negotiate the necessary relocation of cemeteries and to pay all reasonable costs thereof. To perform or have performed any and all acts and make all payments necessary to comply with all applicable federal laws, rules or regulations including but not limited to the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 (42 U.S.C. 4601, 4602, 4621 to 4638, and 4651 to 4655) and relocation rules and regulations promulgated by any agency or department of the federal government. To construct, extend, improve, maintain, and reconstruct, to cause to be constructed, extended, improved, maintained, and reconstructed, and to use and operate any and all components of the project or any facility related to the project, with the concurrence of the affected public agency, within the project area, necessary to the project and to the exercise of such powers, rights, and privileges granted DECD. To incur or defray any designated portion of the cost of any component of the project or any facility related to the project acquired or constructed by any public agency. To lease, sell or convey any or all property acquired by DECD under the provisions of Sections 57-1-351 through 57-1-369 to the enterprise, its successors or assigns, and in connection therewith to pay the costs of title search, perfection of title, title insurance and recording fees as may be required. DECD may provide in the instrument conveying such property a provision that such property shall revert to DECD if, as and when the property is declared by the enterprise to be no longer needed. To enter into contracts with any person or public agency including, but not limited to, contracts authorized by Section 57-1-363, in furtherance of any of the purposes authorized by Sections 57-1-351 through 57-1-369 upon such consideration as DECD and such person or public agency may agree. Any such contract may extend over any period of time, notwithstanding any rule of law to the contrary, may be upon such terms as the parties thereto shall agree, and may provide that it shall continue in effect until bonds specified therein, refunding bonds issued in lieu of such bonds, and all other obligations specified therein are paid or terminated. Any such contract shall be binding upon the parties thereto according to its terms. Such contracts may include an agreement to reimburse the enterprise, its successors and assigns for any assistance provided by the enterprise in the acquisition of real property for the project or any facility related to the project. To establish and maintain reasonable rates and charges for the use of any facility within the project area owned or operated by DECD, and from time to time to adjust such rates and to impose penalties for failure to pay such rates and charges when due. To adopt and enforce with the concurrence of the affected public agency all necessary and reasonable rules and regulations to carry out and effectuate the implementation of the project and any land use plan or zoning classification adopted for the project area, including but not limited to rules, regulations, and restrictions concerning mining, construction, excavation or any other activity the occurrence of which may endanger the structure or operation of the project. Such rules may be enforced within the project area and without the project area as necessary to protect the structure and operation of the project. DECD is authorized to plan or replan, zone or rezone, and make exceptions to any regulations, whether local or state, with the concurrence of the affected public agency which are inconsistent with the design, planning, construction or operation of the project and facilities related to the project. To plan, design, coordinate and implement measures and programs to mitigate impacts on the natural environment caused by the project or any facility related to the project. To develop plans for technology transfer activities to ensure private sector conduits for exchange of information, technology and expertise related to the project to generate opportunities for commercial development within the state. To consult with the State Department of Education and other public agencies for the purpose of improving public schools and curricula within the project area. To consult with the State Board of Health and other public agencies for the purpose of improving medical centers, hospitals and public health centers in order to provide appropriate health care facilities within the project area. To consult with the Office of Minority Business Enterprise Development and other public agencies for the purpose of developing plans for technical assistance and loan programs to maximize the economic impact related to the project for minority business enterprises within the State of Mississippi. To promulgate rules and regulations necessary to effectuate the purposes of Sections 57-1-351 through 57-1-369.

Miss. Code Ann. § 57-1-357 Board authority to support project.

The Board of Trustees of State Institutions of Higher Learning is hereby authorized to support the project by creating institutes and developing curricula of direct benefit to the enterprise. Upon notification to DECD by the enterprise that the state has been selected as the site of the project, the Board of Trustees of State Institutions of Higher Learning may establish and create programs to enhance the project’s success.

Miss. Code Ann. § 57-1-359 DECD loans to counties or municipalities to further project.

DECD shall utilize not more than the amount of the proceeds of the bonds authorized to be issued under Section 6(3)(b) of Chapter 301, Laws of 1998, for the purpose of making interest-bearing loans to counties or municipalities in order for such counties or municipalities to lend to the private company that falls under the definition of the term “project,” the proceeds of the loan from DECD to any such county or municipality.

Miss. Code Ann. § 57-1-363 Public agency authority concerning project; contracts with DECD; indebtedness.

For the purpose of aiding in the planning, design, undertaking and carrying out of the project or any facility related to the project, any public agency is authorized and empowered upon such terms, with or without consideration, as it may determine: To enter into agreements, which may extend over any period, with DECD respecting action to be taken by such public agency with respect to the acquisition, planning, construction, improvement, operation, maintenance or funding of the project or any such facility, and which agreements may include (i) the appropriation or payment of funds to DECD or to a trustee in amounts which shall be sufficient to enable DECD to defray any designated portion or percentage of the expenses of administering, planning, designing, constructing, acquiring, improving, operating, and maintaining the project or any facility related to the project, (ii) the appropriation or payment of funds to DECD or to a trustee to pay interest and principal (whether at maturity or upon sinking fund redemption) on bonds issued pursuant to Sections 57-1-351 through 57-1-369 and to fund reserves for debt service, for operation and maintenance and for renewals and replacements, and to fulfill requirements of any covenant with respect to debt service contained in any resolution, trust indenture or other security agreement relating to the bonds issued pursuant to Sections 57-1-351 through 57-1-369, and (iii) the furnishing of other assistance in connection with the project or facility related to the project; To dedicate, sell, donate, convey or lease any property or interest in property to DECD or grant easements, licenses or other rights or privileges therein to DECD; To incur the expense of any public improvements made or to be made by such public agency in exercising the powers granted in this section; To lend, grant or contribute funds to DECD; To cause public buildings and public facilities, including parks, playgrounds, recreational areas, community meeting facilities, water, sewer or drainage facilities, or any other works which it is otherwise empowered to undertake, to be furnished to or with respect to the project or any such facility; To furnish, dedicate, close, vacate, pave, install, upgrade or improve highways, streets, roads, sidewalks, airports, railroads, or ports; To plan or replan, zone or rezone any parcel of land within the public agency or make exceptions from land use, building and zoning regulations; and To cause administrative and other services to be furnished to DECD, including services pertaining to the acquisition of real property and the furnishing of relocation assistance. Any contract between a public agency entered into with DECD pursuant to any of the powers granted by Sections 57-1-351 through 57-1-369 shall be binding upon the public agency according to its terms, and such public agency shall have the power to enter into such contracts as in the discretion of the governing authorities thereof would be to the best interest of the people of such public agency. Such contracts may include within the discretion of such governing authorities of public agencies defined under Section 57-1-351(g)(ii) a pledge of the full faith and credit of such public agency for the performance thereof. If at any time title to or possession of the project or any such facility is held by any public body or governmental agency other than DECD, including any agency or instrumentality of the United States of America, the agreements referred to in this section shall inure to the benefit of and may be enforced by such public body or governmental agency. Notwithstanding any provisions of Sections 57-1-351 through 57-1-369 to the contrary, any contract entered into between DECD and any public agency for the appropriation or payment of funds to DECD under paragraph (a)(ii) of this section shall contain a provision therein requiring monthly payments by the public agency to pay its indebtedness and, if the public agency is not a county or municipality, such contract shall include as an additional party to the contract the county or municipality (referred to in this paragraph as “levying authority”) that levies and collects taxes for the contracting public agency. If the public agency fails to pay its indebtedness for any month, DECD shall certify to the State Tax Commission, or other appropriate agency, the amount of the delinquency, and the State Tax Commission shall deduct such amount from the public agency’s or levying authority’s, as the case may be, next allocation of sales taxes, petroleum taxes, highway privilege taxes, severance taxes, Tennessee Valley Authority payments in lieu of taxes and homestead exemption reimbursements in that order of priority. The State Tax Commission, or other appropriate agency, shall pay the sums so deducted to DECD to be applied to the discharge of the contractual obligation.

Miss. Code Ann. § 57-1-365 Concurrence of county, municipality and/or school district.

DECD 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.

Miss. Code Ann. § 57-1-367 Minority small business concern expenditures; DECD authority.

DECD shall set a goal to expend not less than ten percent (10%) of the total amounts expended by DECD on planning, construction, training, research, development, testing, evaluation, personal services, procurement, and for the operation and maintenance of any facilities or activities controlled by DECD, with minority small business concerns owned and controlled by socially and economically disadvantaged individuals. For the purpose of determining the total amounts expended with such minority small business concerns, credit shall be given for that portion of any prime contract entered into with DECD which inures to the benefit of such minority small business concern as a subcontractor thereunder. For the purposes of this section, the term “socially and economically disadvantaged individuals” shall have the meaning ascribed to such term under Section 8(d) of the Small Business Act (15 U.S.C.S., Section 637(d)) and relevant subcontracting regulations promulgated pursuant thereto. For the purposes of this section, the term “minority small business concern” means any small business concern: Which is at least fifty-one percent (51%) owned by one or more socially and economically disadvantaged individuals; or, in the case of any publicly owned businesses, at least fifty-one percent (51%) of the stock of which is owned by one or more socially and economically disadvantaged individuals; and Whose management and daily business operations are controlled by one or more of such individuals. For the purpose of this section, the term “small business concern” shall mean “small business” as the latter term is defined in Section 57-10-155, Mississippi Code of 1972. In order to comply in a timely manner with its minority small business participation mandate, DECD shall set an annual goal to expend not less than ten percent (10%) of its aggregate yearly expenditures with minority small business concerns. DECD shall: Monitor the minority small business concerns assistance programs prescribed in this section. Review and determine the business capabilities of minority small business concerns. Establish standards for a certification procedure for minority small business concerns seeking to do business with DECD. Provide technical assistance services to minority small business concerns. Such technical assistance shall include but not be limited to: Research; Assistance in obtaining bonds; Bid preparation; Certification of business concerns; Marketing assistance; and Joint venture and capital development. Develop alternative bidding and contracting procedures for minority small business concerns in conjunction with the Department of Finance and Administration. Utilize such alternative bidding and contracting procedures in lieu of those prescribed in Title 31, Chapters 5 and 7, Mississippi Code of 1972, when contracting with minority small business concerns that have qualified to bid for contracts and have satisfied any other disclosure provisions required by DECD. Be authorized to accept in lieu of any bond otherwise required from minority small business concerns or small business concerns contracting with DECD, in an amount equal to one hundred percent (100%) of the total cost of the contracted project, any combination of the following: Cash; Certificates of deposit from any bank or banking corporation insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation; Federal treasury bills; Letters of credit issued by a bank as that term is defined in Section 81-3-1, Mississippi Code of 1972; or Surety bonds issued by an insurance company licensed and qualified to do business in the State of Mississippi. Be authorized, in its discretion, to waive any bond required on any project which does not exceed a total dollar value of One Hundred Thousand Dollars ($100,000.00). A retainage shall be held by the authority in an amount not to exceed fifteen percent (15%) from each draw according to American Institute of Architects (AIA) standards. Upon satisfactory completion of such project, ten percent (10%) of the total cost of the contract shall be held in an interest-bearing escrow account for one (1) year. Funds deposited in such escrow account shall stand as a surety for any defects in workmanship or materials detected within twelve (12) months of completion. The balance of all monies so escrowed including accrued interest shall be paid to the contractor at the end of such twelve-month period. Be empowered to provide an incentive of bimonthly payments to any prime contractors utilizing minority small business concerns as subcontractors on twenty-five percent (25%) or more of the total dollar value of any single project or contract. Submit an annual report on its progress concerning minority small business contracts to the Legislature by January 30 of each year. Take all steps necessary to implement the provisions of this section.

Miss. Code Ann. § 57-1-369 Cumulative provisions; severability.

The provisions of Sections 57-1-351 through 57-1-369 are cumulative of other statutes now or hereafter enacted relating to DECD, and DECD may exercise all presently held powers in the furtherance of Sections 57-1-351 through 57-1-369. If any section, paragraph, sentence, clause, phrase or any part of the provisions of Sections 57-1-351 through 57-1-369 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.

Miss. Code Ann. § 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.

Miss. Code Ann. § 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.

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: 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. 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 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. 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.

Miss. Code Ann. § 57-1-401 Mississippi Development Authority Workforce Training Fund created; use of funds.

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. 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.

Miss. Code Ann. § 57-1-421 Mississippi Alternative Fuel School Bus and Municipal Motor Vehicle Revolving Loan Fund created; purpose; use of funds.

As used in this subsection: “Alternative fuel” means compressed natural gas and liquefied natural gas, as defined in Section 27-59-3, and propane fuel when used as a fuel in a motor vehicle or motor vehicles on the highways of the state. “Alternative fuel school bus” means a school bus propelled by alternative fuel either as a dedicated alternative fuel vehicle, as a bi-fuel vehicle using alternative fuel as one of its fuels, or as a dual-fuel vehicle using alternative fuel as one of its fuels. “Conversion kit” means the fuel system equipment necessary in order to retrofit a motor vehicle propelled by gasoline, diesel or other fuel so that the motor vehicle may be converted or modified into an alternative fuel motor vehicle. “Cost of qualified alternative fuel motor vehicle fuel property” means any of the following: The actual cost per school bus paid by the school district for the purchase and installation of qualified alternative fuel motor vehicle fuel property described in paragraph (l)(i) of this subsection. The incremental cost per school bus paid by the school district upon the purchase of an OEM alternative fuel school bus for the qualified alternative fuel motor vehicle fuel property (including installation) described in paragraph (l)(ii) of this subsection. The cost of the qualified alternative fuel motor vehicle fuel property described in paragraph (l)(iii) of this subsection and its installation. The cost of the qualified alternative fuel motor vehicle fuel property described in paragraph (l)(iv) of this subsection and its construction and installation. The cost directly related to a refueling station shall not include costs associated with exploration and development activities necessary for severing natural resources from the soil or ground. “Fuel system equipment” means tanks, pumps, hoses, injectors, electronic controls and related supplies, materials, parts and components for the storage of alternative fuel as fuel for an alternative fuel school bus, the delivery of alternative fuel to the engine of an alternative fuel school bus, and the exhaust from an alternative fuel school bus of gases from combustion of alternative fuel used to propel an alternative fuel school bus, excluding equipment necessary for operation of a school bus on gasoline, diesel or any fuel other than alternative fuel. “Incremental cost” means: The stated MSRP of the fuel system equipment and its installation for an OEM alternative fuel school bus; or If no separate MSRP is stated, the difference between the MSRP of the OEM alternative fuel school bus and the MSRP of the same make and model of school bus manufactured without the fuel system equipment but otherwise identically equipped. When an OEM alternative fuel school bus is sold for less (or more) than its MSRP, the amount determined in subparagraph (i) or (ii) of this paragraph (f) shall be proportionately reduced (or increased) by the same percentage as the discount (or premium) on the MSRP, as applicable. “School district” means a public school district. “OEM alternative fuel motor vehicle” means an alternative fuel school bus manufactured by the original vehicle manufacturer (or its contractor) with the fuel system equipment installed as original equipment by the manufacturer (or its contractor) at the factory or at another installation site approved by the manufacturer (or its contractor). “Motor vehicle” shall have the meaning ascribed to such term in Section 27-59-3. “MSRP” means manufacturer’s suggested retail price. “Original purchase” means the purchase directly from a dealer at retail of a new OEM alternative fuel school bus which has never been titled. “Qualified alternative fuel motor vehicle fuel property” means any of the following: A conversion kit which has not previously been used to retrofit any motor vehicle and is installed and results in a reduction in emissions. The fuel system equipment on an OEM alternative fuel school bus which results in a reduction in emissions. A refueling system installed at a governmental entity location for the nonpublic refueling with alternative fuel of the governmental entity’s alternative fuel school buses. A refueling station located in the state and operated by a school district for refueling of alternative fuel motor vehicles owned by the school district. Upgrades to a refueling system included in subparagraphs (iii) and (iv) of this paragraph (l). Portable or mobile refueling systems. “Reduction in emissions” means a reduction in atmospheric emissions from fuel consumption by an alternative fuel motor vehicle as demonstrated by certification of the fuel system equipment by the federal Environmental Protection Agency or the Mississippi Department of Environmental Quality or any other test or standard recognized by the Mississippi Department of Environmental Quality. “Refueling system” means compressors (whether used separately or in combination with cascade tanks), process piping, hoses, dispensing units at the point where alternative fuel is delivered as a fuel, meters and other parts and equipment and installation supplies and materials therefor that constitute a refueling system capable of dispensing alternative fuel into fuel tanks of alternative fuel motor vehicles for use as a fuel. “Refueling station” means property constituting a facility operated for dispensing alternative fuel into fuel tanks of alternative fuel motor vehicles, which shall include: A refueling system; and A building or other structural components constructed or installed as part of and directly related to such refueling system. “Retrofit” means the installation of a conversion kit in a school bus designed to operate on gasoline, diesel or other fuel in order to convert or modify the bus vehicle into an alternative fuel school bus. “School bus” means a vehicle owned by a school district that is primarily used by the school district to transport students. As used in this subsection: “Alternative fuel” means compressed natural gas and liquefied natural gas, as defined in Section 27-59-3, and propane fuel when used as a fuel in a motor vehicle or motor vehicles on the highways of the state. “Conversion kit” means the fuel system equipment necessary in order to retrofit a motor vehicle propelled by gasoline, diesel or other fuel so that the motor vehicle may be converted or modified into an alternative fuel motor vehicle. “Cost of qualified alternative fuel motor vehicle fuel property” means any of the following: The actual cost per vehicle paid by the municipality for the purchase and installation of qualified alternative fuel motor vehicle fuel property described in paragraph (l)(i) of this subsection. The incremental cost per vehicle paid by the municipality upon the purchase of an OEM alternative fuel motor vehicle for the qualified alternative fuel motor vehicle fuel property (including installation) described in paragraph (l)(ii) of this subsection. The cost of the qualified alternative fuel motor vehicle fuel property described in paragraph (l)(iii) of this subsection and its installation. The cost of the qualified alternative fuel motor vehicle fuel property described in paragraph (l)(iv) of this subsection and its construction and installation. The cost directly related to a refueling station shall not include costs associated with exploration and development activities necessary for severing natural resources from the soil or ground. “Fuel system equipment” means tanks, pumps, hoses, injectors, electronic controls and related supplies, materials, parts and components for the storage of alternative fuel as fuel for an alternative fuel motor vehicle, the delivery of alternative fuel to the engine of an alternative fuel motor vehicle, and the exhaust from an alternative fuel motor vehicle of gases from combustion of alternative fuel used to propel an alternative fuel motor vehicle, excluding equipment necessary for operation of a motor vehicle on gasoline, diesel or any fuel other than alternative fuel. “Incremental cost” means: The stated MSRP of the fuel system equipment and its installation for an OEM alternative fuel motor vehicle; or If no separate MSRP is stated, the difference between the MSRP of the OEM alternative fuel motor vehicle and the MSRP of the same make and model of motor vehicle manufactured without the fuel system equipment but otherwise identically equipped. When an OEM alternative fuel motor vehicle is sold for less (or more) than its MSRP, the amount determined in subparagraph (i) or (ii) of this paragraph (e) shall be proportionately reduced (or increased) by the same percentage as the discount (or premium) on the MSRP, as applicable. “Municipality” means an incorporated city, town or village in the State of Mississippi. “OEM alternative fuel motor vehicle” means an alternative fuel motor vehicle manufactured by the original vehicle manufacturer (or its contractor) with the fuel system equipment installed as original equipment by the manufacturer (or its contractor) at the factory or at another installation site approved by the manufacturer (or its contractor). “Motor vehicle” shall have the meaning ascribed to such term in Section 27-59-3. “MSRP” means manufacturer’s suggested retail price. “Alternative fuel motor vehicle” means a motor vehicle propelled by alternative fuel either as a dedicated alternative fuel vehicle, as a bi-fuel vehicle using alternative fuel as one of its fuels, or as a dual fuel vehicle using alternative fuel as one of its fuels. “Original purchase” means the purchase directly from a dealer at retail of a new OEM alternative fuel motor vehicle which has never been titled. “Qualified alternative fuel motor vehicle fuel property” means any of the following: A conversion kit which has not previously been used to retrofit any motor vehicle and is installed and results in a reduction in emissions. The fuel system equipment on an OEM alternative fuel motor vehicle which results in a reduction in emissions. A refueling system installed at a municipality location for the nonpublic refueling with alternative fuel of the municipality’s alternative fuel motor vehicles. A refueling station located in the state and operated by a municipality for refueling of alternative fuel motor vehicles owned by the municipality. Upgrades to a refueling system included in subparagraphs (iii) and (iv) of this paragraph (l). Portable or mobile refueling systems. “Reduction in emissions” means a reduction in atmospheric emissions from fuel consumption by an alternative fuel motor vehicle as demonstrated by certification of the fuel system equipment by the federal Environmental Protection Agency or the Mississippi Department of Environmental Quality or any other test or standard recognized by the Mississippi Department of Environmental Quality. “Refueling system” means compressors (whether used separately or in combination with cascade tanks), process piping, hoses, dispensing units at the point where alternative fuel is delivered as a fuel, meters and other parts and equipment and installation supplies and materials therefor that constitute a refueling system capable of dispensing alternative fuel into fuel tanks of alternative fuel motor vehicles for use as a fuel. “Refueling station” means property constituting a facility operated for dispensing alternative fuel into fuel tanks of alternative fuel motor vehicles, which shall include: A refueling system; and A building or other structural components constructed or installed as part of and directly related to such refueling system. “Retrofit” means the installation of a conversion kit in a motor vehicle designed to operate on gasoline, diesel or other fuel in order to convert or modify such motor vehicle into an alternative fuel motor vehicle. The Mississippi Development Authority shall establish a revolving loan program to provide loans to (i) school districts for the purpose of assisting school districts with paying the cost of qualified alternative fuel motor vehicle fuel property and (ii) municipalities for the purpose of assisting municipalities with paying the cost of qualified alternative fuel motor vehicle fuel property. Loans made under this section shall bear no interest. A school district or municipality desiring a loan under this section must submit an application to the Mississippi Development Authority. The application shall include: A description of the purpose for which the loan is requested; The amount of the loan requested; and Any other information required by the Mississippi Development Authority. Repayments of loans made under this section shall be deposited to the credit of the Mississippi Alternative Fuel School Bus and Municipal Motor Vehicle Revolving Loan Fund. There is created in the State Treasury a special fund to be designated as the “Mississippi Alternative Fuel School Bus and Municipal Motor Vehicle Revolving Loan Fund,” which shall consist of funds appropriated or otherwise made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used by the Mississippi Development Authority for the purposes described in this section. Monies in the fund which are derived from the proceeds of general obligation bonds may be used to reimburse reasonable actual and necessary costs incurred by the Mississippi Development Authority for the administration of the various grant, loan and financial incentive programs administered by the authority. Reimbursements made under this subsection shall satisfy any applicable federal tax law requirements. 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.

Miss. Code Ann. § 57-1-451 Mississippi Development Authority Job Training Grant Fund created; use of funds.

There is created in the State Treasury a special fund to be known as the “Mississippi Development Authority Job Training Grant Fund” into which shall be deposited such money as provided in Section 27-65-75(21)(b). The money in the fund shall be used for the purpose of making job training grants to community and junior colleges, public universities and local workforce investment areas to pay a portion of the costs of providing training or retraining for employees of business enterprises that are eligible for the jobs tax credit authorized in Section 57-73-21. The fund shall be administered by the Mississippi Development Authority (MDA). Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned on or investment earnings on the amounts in the fund shall be deposited to the credit of the fund. The MDA may use not more than one percent (1%) of interest earned or investment earnings, or both, on amounts in the fund for administration and management of the incentive program authorized under this section. Subject to the provisions of this section, job training grants may be made by the MDA to a community or junior college, public university or local workforce investment area to pay costs incurred in training or retraining employees for a business enterprise that is eligible for the jobs tax credit authorized in Section 57-73-21. A business enterprise that chooses to utilize a job training grant under this section shall not be eligible for the job tax credit authorized in Section 57-73-21. The election to utilize a job training grant shall be made by the business enterprise before the creation of any jobs. The grant payments may be made during a five-year period beginning with years two (2) through six (6) after the creation of the minimum number of jobs required by the MDA. The amount of the grants authorized by this section shall be seventy-five percent (75%) of the costs of training or retraining employees not to exceed: One Thousand Dollars ($1,000.00) per job in counties designated as Tier One areas under Section 57-73-21; One Thousand Five Hundred Dollars ($1,500.00) per job in counties designated as Tier Two areas under Section 57-73-21; and Two Thousand Dollars ($2,000.00) per job in counties designated as Tier Three areas under Section 57-73-21. The MDA shall cease making job training grant payments if it determines the required number of jobs are not being maintained by the business enterprise. The MDA shall require that the business enterprise shall enter into binding commitments requiring that: A minimum number of jobs be maintained that shall not be less than the number of jobs required to be eligible for the jobs tax credit authorized in Section 57-73-21; and That if the minimum number of jobs are not maintained, all or a portion of the grant funds paid under this section, as determined by the MDA, shall be repaid by the business enterprise. The MDA shall develop, implement and administer the job training grant program authorized under this section and shall promulgate rules and regulations necessary for the development, implementation and administration of the program. A business enterprise desiring to utilize job training grants under this section must submit requests for job training grants to the MDA. The MDA shall review the request and determine if the business enterprise is eligible and if a payment shall be made from the fund. The liability of the State of Mississippi to make the job training grants authorized under this section shall be limited to the balance contained in the fund.

Miss. Code Ann. § 57-1-471 Mississippi Air Service Development Program Fund created; purpose; use of funds.

This section shall be known and may be cited as the “Mississippi Air Service Development Program Act.” There is created in the State Treasury a fund designated as the “Mississippi Air Service Development Program Fund” referred to in this section as “fund.” The fund shall be used to provide grants to commercial service airports, as provided in this section, for one or more of the following air service development goals: Adding air service to a new destination; Adding frequencies to current services; Lowering fares/introducing new competitive service; Upgauging aircraft; and Adding a new Federal Aviation Administration (FAA) Part 121 commercial air carrier. Eligible projects for grants shall include marketing and advertising of new service and routes and additional frequencies, as well as other risk abatement plans; however, use of grant funds to purchase airline passenger seats is prohibited. The fund shall be administered by the Mississippi Development Authority which shall promulgate reasonable regulations consistent with the purposes of this section. The Mississippi Development Authority shall monitor and evaluate the Air Service Development Program and shall also report its evaluation of the program to the Governor, Lieutenant Governor and the Speaker of the House on an annual basis. Airline grant recipients shall be limited to scheduled air carriers that hold a Federal Aviation Administration (FAA) Part 121 Certificate and that provide scheduled air service at Mississippi airports that maintain FAA Part 139 Certification. An airport grant recipient shall only utilize grant funds in accordance with FAA regulation. The amount of a grant shall be based on a formula of Ten Dollars ($10.00) per seat per day calculation, not to exceed an annual total of Five Hundred Thousand Dollars ($500,000.00) per grant per FAA Part 139 airport. In no instance will a combination of airline or airport grants exceed a combined total of Five Hundred Thousand Dollars ($500,000.00) per year per airport. Seasonal service is also eligible for grants based on the per seat per day calculation provided in paragraph (b) of this subsection (5).For the purposes of this subsection (5), “seasonal service” means any service flown which lasts less than twelve (12) months and more than two (2) months in length.Multiple seasons may be flown by a particular air carrier within a twelve (12) month period with a gap in service between seasons of not less than two (2) months. 1. Thirty-five percent (35%) at the end of the first three (3) months of service; 2. Twenty-five percent (25%) at the end of the second three (3) months of service; 3. Twenty-five percent (25%) at the end of the third three (3) months of service; and 4. Fifteen percent (15%) at the end of the fourth three (3) months of service. Except as otherwise provided in this section, grants shall be disbursed by the Mississippi Development Authority within twelve (12) consecutive months as follows: Grants for seasonal service shall be disbursed by the Mississippi Development Authority at the rate of one hundred percent (100%) at the end of the seasonal service. Each grant shall require a forty percent (40%) match, which may be provided by private sources and/or public sources. Of the forty percent (40%) match prescribed under this subsection, only one-half (1/2) or twenty percent (20%) of the grant may derive from in-kind sources. All expenditures of the fund by airport or airline grant recipients shall be utilized for the purposes prescribed under subsection (3) of this section.

Miss. Code Ann. § 57-1-501 Economic Development and Infrastructure Fund created; purpose; use of funds.

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. 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. The Mississippi Development Authority shall establish a procedure for accepting and reviewing applications for grants under this section. 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). 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.

Miss. Code Ann. § 57-1-601 Mississippi Main Street Investment Grant Fund program created; purposes; applications by municipalities for loans; awarding of loans by Mississippi Development Authority.

For the purposes of this section, the following words shall have the following meanings ascribed in this section, unless the context clearly otherwise requires: “MDA” means the Mississippi Development Authority. “Municipality” means the City of Senatobia, Mississippi. “Revitalization zone” means an area in the municipality officially designated by ordinance or resolution of the governing authorities of the municipality as a revitalization zone and approved and certified by the MDA as meeting the requirements of this section. There is created in the State Treasury a special fund to be designated as the “Mississippi Main Street Investment Grant Fund” which shall consist of funds 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 interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used by the MDA for the purposes authorized in subsection (3) of this section. Monies in the fund which are derived from the proceeds of general obligation bonds may be used to reimburse reasonable actual and necessary costs incurred by the MDA in providing grants under this section through the use of proceeds of such general obligation bonds. An accounting of actual costs incurred for which reimbursement is sought shall be maintained for the program. Reimbursement of reasonable actual and necessary costs for assistance shall not exceed three percent (3%) of the proceeds of bonds issued for such assistance. Reimbursements made under this subsection shall satisfy any applicable federal tax law requirements. The MDA shall establish a program to make grants to the municipality to assist with maintaining and improving the viability of revitalization zones. The proceeds of a grant made to the municipality under this section may be used for maintaining and/or improving the viability of a revitalization zone through means deemed appropriate by the governing authorities of the municipality, including, but not limited to, making loans, grants and/or other forms of assistance to any person or public or private association or other entity for use for infrastructure projects, improvements to properties, signage and other purposes related to maintaining and/or improving the viability of the revitalization zone. If the municipality desires a grant under this section, the municipality shall submit an application to the MDA seeking (i) approval and certification of the proposed revitalization zone and (ii) a grant for the purposes authorized in this section. The application shall include, at a minimum: 1. The name of the proposed revitalization zone, together with the words, “revitalization zone”; 2. A description of the revitalization zone by metes and bounds; 3. A map showing the parcels of real property included in the revitalization zone and the present use of such parcels; 4. A master plan for the revitalization zone that has been approved by sixty percent (60%) of the property owners within the zone at the time the municipality submits the application; and 5. Any other information required by the MDA. The governing authorities of the municipality may designate the boundaries of a proposed revitalization zone by adoption of an ordinance or resolution that is spread upon its minutes and describes the boundaries of the zone. The MDA shall review the application to confirm that the revitalization zone meets the requirements of this section. A revitalization zone may embrace two (2) or more separate parcels of real property, and such property may be publicly and/or privately owned. Each revitalization zone shall be of such size and form as to include all properties that, in the determination of the municipality and the MDA, constitute an integral part of the revitalization zone. If the MDA determines that the boundaries of the proposed revitalization zone exceed the area that is reasonably deemed to be integral to the revitalization zone, the MDA may reduce the boundaries of the proposed area. Upon the approval and selection of a municipal revitalization zone project, the MDA shall certify the revitalization zone. The MDA shall have all powers necessary to implement and administer the program established under this section, and the MDA shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.

Miss. Code Ann. § 57-1-701 Mississippi Site Development Grant Fund created; definitions; use of funds; application; annual report.

For the purposes of this section, the following words and phrases shall have the meanings ascribed in this subsection unless the context clearly indicates otherwise: “Eligible entity” means any (i) county, (ii) municipality or (iii) public or private nonprofit local economic development entity including, but not limited to, local authorities, commissions, or other entities created by local and private legislation or pursuant to Section 19-5-99. “Eligible expenditures” means: Fees for architects, engineers, environmental consultants, attorneys, and such other advisors, consultants and agents that MDA determines are necessary to complete site due diligence associated with site development improvements located on industrial property that is publicly owned; and/or Contributions toward site development improvements, as approved by MDA, located on industrial property that is publicly owned. “MDA” means the Mississippi Development Authority. “Site development improvements” means site clearing, grading, and environmental mitigation; improvements to drainage systems; easement and right-of-way acquisition; sewer systems; transportation directly affecting the site, including roads, bridges or rail; bulkheads; land reclamation; water supply (storage, treatment and distribution); aesthetic improvements; the dredging of channels and basins; or other improvements as approved by MDA. There is hereby created in the State Treasury a special fund to be designated as the “Mississippi Site Development Grant Fund,” which shall consist of funds made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used to make grants to assist eligible entities as provided in this section. Monies in the fund which are derived from proceeds of bonds issued under Section 2 of Chapter 390, Laws of 2017, Section 5 of Chapter 412, Laws of 2018, or Section 1 of Chapter 421, Laws of 2019, may be used to reimburse reasonable actual and necessary costs incurred by MDA for the administration of the various grant, loan and financial incentive programs administered by MDA. An accounting of actual costs incurred for which reimbursement is sought shall be maintained by MDA. Reimbursement of reasonable actual and necessary costs shall not exceed three percent (3%) of the proceeds of bonds issued. Reimbursements under this subsection shall satisfy any applicable federal tax law requirements. MDA shall establish a program to make grants to eligible entities to match local or other funds associated with improving the marketability of publicly owned industrial property for industrial economic development purposes and other property improvements as approved by MDA. An eligible entity may apply to MDA for a grant under this program in the manner provided for in this section. An eligible entity desiring assistance under this section must provide matching funds in an amount determined by MDA. Matching funds may be provided in the form of cash and/or in-kind services as determined by MDA. An eligible entity desiring assistance under this section must submit an application to MDA. The application must include: A description of the eligible expenditures for which assistance is requested; The amount of assistance requested; The amount and type of matching funds to be provided by the eligible entity; and Any other information required by MDA. Upon request by MDA, an eligible entity shall provide MDA with access to all studies, reports, documents and/or plans developed as a result of or related to an eligible entity receiving assistance under this section. MDA shall have all powers necessary to implement and administer the program established under this section, and the department shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section. MDA shall file an annual report with the Governor, the Secretary of the Senate and the Clerk of the House of Representatives not later than December 1 of each year, describing all assistance provided under this section.

Miss. Code Ann. § 57-1-731 Mississippi Ports Improvements Fund created; purpose; source and use of monies; accounting and reimbursement of certain costs; establishment of grant program; application; Ports Improvements Fund Advisory Committee created; composition.

There is created a special fund in the State Treasury to be known as the Mississippi Ports Improvements 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. Monies in the fund shall be disbursed by the Mississippi Development Authority (MDA) for the purposes authorized in subsection (2) of this section. Monies in the fund that are derived from the proceeds of general obligation bonds may be used to reimburse reasonable actual and necessary costs incurred by the MDA in providing grants under this section using general obligation bonds. An accounting of actual costs incurred for which reimbursement is sought shall be maintained for each grant by the MDA. Reimbursement of reasonable actual and necessary costs for assistance shall not exceed two percent (2%) of the proceeds of bonds issued for such assistance. Reimbursements made under this paragraph shall satisfy any applicable federal tax law requirements. The MDA shall establish a program to make grants from the Mississippi Ports Improvements Fund to assist in paying a portion of the costs associated with the repair, rehabilitation, construction, reconstruction, upgrading and improvement of existing port facilities, including projects necessary to ensure safety and structural integrity of such facilities. An entity desiring a grant under this section shall submit an application to the MDA which shall include, at a minimum: A description, including the cost, of the requested assistance; A description of the purpose for which the assistance is requested; and Any other information required by the MDA. There is hereby created the Ports Improvements Fund Advisory Committee whose membership shall consist of: Six (6) directors of ports, appointed by the President of the Mississippi Ports Council, or his or her designee, as follows: two (2) directors of the coastal ports, two (2) directors of inland river ports located on the Mississippi River and two (2) directors of inland ports located on the Tennessee-Tombigbee Waterway; and The Executive Director of the MDA, or his or her designee. The MDA, in consultation with the Ports Improvements Fund Advisory Committee, shall provide grants under this section. The terms of a grant shall be within the discretion of the MDA. The MDA shall have all powers necessary to implement and administer the program established under this section, including the establishing of requirements for matching funds and criteria regarding the evaluation of applications for assistance. The MDA shall promulgate rules and regulations, in accordance with the Administrative Procedures Law, necessary for the implementation and administration of this section.

Source: Public.Resource.Org MS CodeURL: https://unicourt.github.io/cic-code-ms/transforms/ms/ocms/r78/gov.ms.code.title.57.htmlFetched: 6/9/2026