§ 31-25-47. Agreements or contracts for safekeeping of municipal bonds or other investments
The bank may enter into agreements or contracts with any bank, trust companies, banking or financial institutions within or without the state as may be necessary, desirable or convenient in the opinion of the bank for rendering services to the bank in connection with the care, custody or safekeeping of municipal bonds or other investments […]
§ 31-25-49. Reservation of State power
The state does hereby pledge to and agree with the holders of any bonds issued by the bank under this act that the state will not limit or alter the rights hereby vested in the bank to fulfill the terms of any agreements made with the said holders thereof or in any way impair the […]
§ 31-25-51. Bonds of bank as legal investments; authorized investments by bank
The bonds of the bank shall be legal investments in which all public officers and public bodies of this state, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations, trust companies, savings banks and savings associations, including savings and loan associations, building and loan associations, investment companies and other persons carrying […]
§ 31-25-53. Chapter provisions as cumulative
Neither this act nor anything herein contained is or shall be construed as a restriction or limitation upon any powers which the bank might otherwise have under any laws of this state, and this act is cumulative to any such powers. This act does and shall be construed to provide complete additional and alternative method […]
§ 31-25-55. Savings clause
If any section, subsection, paragraph, sentence, clause or provision of this act shall be unconstitutional or ineffective, in whole or in part, to the extent that it is not unconstitutional or ineffective, it shall be valid and effective and no other section, subdivision, paragraph, sentence, clause or provision shall on account thereof be deemed invalid […]
§ 31-25-101. Definitions
For the purposes of this article, the following words and phrases shall have the meaning ascribed in this section unless the context clearly indicates otherwise: “Bank” means the Mississippi Development Bank created pursuant to Section 31-25-1 et seq., Mississippi Code of 1972. “Bonds” means bonds, notes and any other evidence of indebtedness. “Commission” means the […]
§ 31-25-103. Deposits into revolving fund; agreements; security; pledge of payments; recordation; enforcement of interest; resolution
The commission acting through the department is hereby authorized, in connection with the issuance of bonds by the Mississippi Development Bank, to provide funds to deposit into the revolving fund and to enter into agreements pursuant to which such bonds shall be made payable, as to both principal, premium, if any, and interest, from such […]
§ 31-25-105. Establishment of debt service reserve funds; disposition of moneys in funds; reserve requirements; appropriations for funds
In addition to any other funds it may establish, the Mississippi Development Bank may, by resolution, establish one or more special funds pursuant to this section, referred to herein as “debt service reserve funds,” and may pay into such debt service reserve funds: Any monies appropriated and made available by the state for the purposes […]
§ 31-25-107. Joint legislative committee
There is hereby created, for the purposes of oversight and review, a joint legislative committee to be comprised of six (6) members, three (3) to be appointed by the Speaker of the House from the membership of the Mississippi House of Representatives, one (1) from each Supreme Court district, as such districts existed on January […]
§ 31-25-35. Report; audit of books and accounts
The bank shall submit to the Governor within ninety (90) days after the end of its fiscal year a complete and detailed report setting forth: Its operations and accomplishments; Its receipts and expenditures during such fiscal year; Its assets, including an itemized list of municipal securities held by it, and liabilities at the end of […]