§ 57-10-237. Miscellaneous provisions of resolution authorizing issuance of bonds
Any resolution authorizing the issuance of bonds may contain provisions as to: Pledging all or any part of the revenues of the company to secure the payment of the bonds subject to the terms of the proceedings relating to other bonds of the company as may then exist; Pledging all or any part of the […]
§ 57-10-207. General powers of board of directors
In addition to those powers granted elsewhere by law, the board of directors of the company is hereby granted all powers necessary or appropriate to carry out and effectuate the purposes of this article, including, but not limited to, the following powers to: Borrow money and issue bonds as provided by this article; Procure insurance […]
§ 57-10-209. Issuance and refunding of bonds; methods for financing projects
Upon receipt of a certificate of public convenience and necessity from the Executive Director of the Mississippi Department of Economic and Community Development, the company shall have the power to borrow money and to issue from time to time its bonds to pay the cost of the projects for which such bonds have been issued, […]
§ 57-10-211. Participation with lenders in making or purchasing loans
In addition to and not as a limitation upon the powers to issue bonds as elsewhere expressed in this article, the company may, with proceeds of an issue of its bonds, participate with lenders in making or purchasing loans to eligible businesses to be serviced by such lenders, provided that: The share of the company […]
§ 57-10-213. Issuance of bonds to finance projects of eligible businesses
In addition to, and not as a limitation upon, the powers of the company to issue bonds as elsewhere conferred in this article, and upon the receipt of a certificate of public convenience and necessity from the Executive Director of the Mississippi Department of Economic and Community Development, the company also shall have the power […]
§ 57-10-215. Insurance or guaranty fund
There is hereby created an insurance or guaranty fund of the company which may be used for any of the following purposes: To insure the payment or repayment of all or any part of the principal of, redemption or prepayment premiums or penalties on, and interest on its bonds; To insure the payment or repayment […]
§ 57-10-217. Security for bonds or instruments
The bonds or instruments with respect to which financial assistance is provided by the company shall be secured or unsecured in a manner approved by the company.
§ 57-10-219. Premiums and fees for financial assistance
The company may, in its discretion, set the premiums and fees to be paid to it for providing financial assistance under this article. The premiums and fees and expenses set by the company shall be payable in the amounts, at the time and in the manner that the company, in its discretion, requires. The premiums […]
§ 57-10-201. Short title
This article shall be known and may be cited as the “Mississippi Business Financing Act”.
§ 57-10-203. Legislative findings and declarations
The Legislature finds and determines that there exists in the state a need to assist business in the state in obtaining financing for new business or in the expansion of existing business in order to promote and develop industrial development and to further the long-term economic development of the state through the improvement of its […]