§ 31-25-21. Power of bank to loan money to local governmental unit
The bank is hereby granted, has and may exercise the power to borrow money and issue its bonds in such principal amounts as it shall deem necessary to provide funds to accomplish a public purpose or purposes of the state provided for under this chapter, including: The making of loans to local governmental units by […]
§ 31-25-23. Loans to local governmental units; purchase or sale of municipal securities
The bank is hereby granted, has and may exercise, the following powers: To make loans to local governmental units by the purchase and holding of municipal securities in such form (including fully remarketable form), at such prices, in such manner, on such terms and conditions and with such security features as the bank shall deem […]
§ 31-25-25. Prohibited transactions
Under this act the bank may not: Make loans of money to any person, firm or corporation or purchase securities issued by any person, firm or corporation other than a local governmental unit for investment; Emit bills of credit, or accept deposits of money for time or demand deposit, or administer trusts, or engage in […]
§ 31-25-27. Powers of local governmental units to contract with bank; issuance of securities; pledges for repayment; personal liability of local governmental officials; validation of securities; waiver of defenses; fraudulent acts; agreements with regard to powers of State Tax Commission; certain local governmental units required to make certifications to Mississippi Development Bank before issuance of bonds; local governmental units authorized to borrow money from any United States government loan guarantee program
Each local governmental unit is hereby authorized and empowered to contract with the bank with respect to the bank’s purchase of such local governmental unit’s securities and such contract shall contain such terms and conditions as may be prescribed by the bank. Each local governmental unit is authorized and empowered to pay to the bank […]
§ 31-25-9. Bank’s powers vested in board
The powers conferred upon the bank hereby are to be vested in the board.
§ 31-25-1. Short title
This act may be referred to and cited as the “Mississippi Development Bank Act.”
§ 31-25-3. Legislative intent; construction
It is hereby determined and declared to be the policy of the state that, for the benefit of the people of the State of Mississippi, it is essential to foster and promote by all reasonable means the provision of adequate access to capital markets and facilities for borrowing money to finance infrastructure improvements and other […]
§ 31-25-5. Definitions
As used in this act, the following words and terms have the following meanings, unless a different meaning clearly appears from the context: “Act” means this Mississippi Development Bank Act. “Bank” means the Mississippi Development Bank created by this act. “Board” means the Board of Directors of the Mississippi Business Finance Corporation. “Bondholder” or “holder” […]
§ 31-25-7. Mississippi Development Bank created
There is hereby created an independent public body corporate and politic to be known as the Mississippi Development Bank. Such bank is created solely to accomplish the purposes of the state under this chapter and the exercise by the bank of the powers conferred by this act shall be deemed and held to be the […]