§ 57-10-531. Disposition of proceeds from sale of bonds and notes and available nonfederal funds
The proceeds realized from the sale of bonds and notes under this article, other than refunding bonds and replacement notes, shall be paid to the State Treasurer and deposited into the Mississippi Small Business Assistance Fund and specifically dedicated to the purposes enumerated in this article. All nonfederal funds which may become available for the […]
§ 57-10-533. Attorney General to represent seller in issuing, selling and validating bonds or notes
Except as otherwise authorized in Section 7-5-39, the Attorney General of the State of Mississippi shall represent the seller in issuing, selling and validating bonds or notes herein provided for, and the seller is hereby authorized and empowered to expend from the proceeds derived from the sale of the bonds or notes authorized hereunder all […]
§ 57-10-601. Definitions; Mississippi Development Authority designated agency for implementation of state program and participation in federal initiative
As used in this section: “Act” means the State Small Business Credit Initiative Act of 2010 (Public Law 111-240). “State program” has the meaning ascribed to such term in the State Small Business Credit Initiative Act of 2010 (Public Law 111-240). “MDA” means the Mississippi Development Authority. The MDA is designated as the agency to […]
§ 57-10-701. Short title
This article shall be known as the “Small Business and Grocer Investment Act.”
§ 57-10-703. Legislative intent
The Legislature finds the following: Developing quality retail food outlets creates jobs, expands markets for Mississippi farmers, and supports economic vitality in underserved communities. Increasing access to retail food outlets that sell fresh fruits, vegetables and other healthy food is an important strategy for fighting the obesity epidemic and improving health. Studies have shown that […]
§ 57-10-705. Definitions
As used in this article: “Agency” means the Mississippi Development Authority. “Funding” means grants, loans, or a combination of grants and loans. “Healthy food retailers” means retailers that sell quality fresh fruits and vegetables, in natural and/or frozen form, including, but not limited to, supermarkets, grocery stores, convenience stores and farmers’ markets. “Program” means technical […]
§ 57-10-511. Grants of funds by MDA
MDA shall grant funds under this article to a planning and development district or qualified entity in accordance with the following terms and conditions: Grant funds received by a planning and development district or qualified entity in accordance with this article shall be used by the planning and development district or qualified entity to establish […]
§ 57-10-707. Establishment of program to provide grants and loans to food retailers to increase access to healthy foods in underserved communities; public-private partnerships; uses of funds; application for funding
To the extent funds are available, the Mississippi Development Authority, in cooperation with public and private sector partners, is authorized to establish a program modeled on comparable initiatives throughout the nation that provides grants and loans and/or promotes access to healthy food retailers that increase access to fresh fruits and vegetables, in natural and/or frozen […]
§ 57-10-513. General powers and duties of planning and development districts and qualified entities
The planning and development districts and qualified entities are authorized, empowered and directed to deposit all grant funds received pursuant to this article in a revolving assistance fund and to provide assistance therefrom to small businesses in accordance with this article and the following criteria, terms and conditions: To be eligible for assistance under this […]
§ 57-10-709. Use of funding to leverage other sources of funds
Funding described in this article, to the extent practicable, may be used to leverage other sources of funds, including, but not limited to, New Markets Tax Credits, federal and foundation grant programs, incentives available to designated Enterprise Zones or Renewal Communities, operator equity and funds from private sector financial institutions under the federal Community Reinvestment […]