§ 57-10-525. Limitation on borrowing; rate of interest on nontaxable bonds or notes; issuance, terms, and execution of general or limited obligation bonds; payment of principal and interest on bonds; tax exempt status
The seller is authorized to borrow, on the credit of the state, money not exceeding the aggregate sum of Thirty-two Million Dollars ($32,000,000.00), not including money borrowed to refund outstanding bonds, notes or replacement notes, as may be necessary to carry out the purposes of this article. The rate of interest on any such bonds […]
§ 57-10-527. Sale of bonds; registration
Whenever bonds are issued, they shall be offered for sale at not less than par value and accrued interest and shall be sold by the seller at public or private sale, from time to time, in such manner and at such price as may be determined by the seller to be most advantageous. Any portion […]
§ 57-10-529. Temporary borrowings by seller pending issuance of bonds of state
Pending the issuance of bonds of the state as authorized under this article, the seller is hereby authorized in accordance with the provisions of this article and on the credit of the state, to make temporary borrowings not to exceed two (2) years in anticipation of the issue of bonds in order to provide funds […]
§ 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 […]
§ 57-10-429. Signatures on bonds
In the event that any of the members or officers of the board of directors of the corporation shall cease to be members or officers of the board prior to the delivery of any bonds signed by them, their signatures or facsimiles thereof shall nevertheless be valid and sufficient for all purposes, the same as […]