§ 69-2-9. Definitions
For the purposes of Sections 69-2-7 through 69-2-41, the following words shall have the meanings ascribed in this section unless the context otherwise requires: “Department” means the Mississippi Department of Economic and Community Development. “Emerging crop” means any new, nontraditional plant or animal crop (as designated by a board consisting of the executive directors of […]
§ 69-2-11. Emerging crop designations
Emerging crop designations shall include, but not be limited to: Blueberries; Muscadines; Christmas trees; Aquaculture, including any species from the Gulf of Mexico and its tributaries; Horticulture; Rabbit farming and processing; and Others designated by the Board of Economic Development or Legislature.
§ 69-2-13. Emerging Crops Fund; loans for agribusinesses and small business concerns; loans for planning and development districts; program to assist minority business enterprises; loans for regional crafts projects; financing agribusiness programs; funds for rehabilitation, maintenance and advertising of Mississippi Farmers Central Market; program of loan guaranties on behalf of qualified nonprofit entities designated as community development financial institutions to encourage financing for loans in low-income communities; grants to certain agribusiness enterprises processing, drying, storing or shipping peanuts; program of loan guaranties on behalf of certain sweet potato growing and farming agribusinesses
There is hereby established in the State Treasury a fund to be known as the “Emerging Crops Fund,” which shall be used to pay the interest on loans made to farmers for nonland capital costs of establishing production of emerging crops on land in Mississippi, and to make loans and grants which are authorized under […]
§ 69-2-15. Interest loans from Emerging Crops Fund
Any lender which has made a loan to a farmer to finance the nonland capital costs of establishing production of an emerging crop on land in Mississippi may make application to the department for payment of the interest on the loan during the period from beginning of production to harvest or initial sale of the […]
§ 69-2-17. Repayment of interest loans from Emerging Crops Fund
Repayment of the interest loan from the fund shall be deferred for a period of time not more than five (5) years or the time when the emerging crop should reach maturity. The schedule for repayment of the interest loan shall be a period of time equal to two (2) times the period that interest […]
§ 69-2-19. Issuance of general obligation bonds for Emerging Crops Fund; limit on amount of bonds issued
The Mississippi Development Authority is authorized, at one time, or from time to time, to declare by resolution the necessity for issuance of negotiable general obligation bonds of the State of Mississippi to provide funds for the Emerging Crops Fund established in Section 69-2-13. Upon the adoption of a resolution by the board, declaring the […]
§ 69-2-21. Full faith, credit, and taxing power of state pledged to payment of bonds
For the payment of such bonds and the interest thereon, the full faith, credit, and taxing power of the State of Mississippi are hereby irrevocably pledged. If the Legislature finds that there are sufficient funds available in the General Fund of the State Treasury to pay maturing principal and accruing interest of the bonds, and […]
§ 69-2-23. Execution, delivery, conversion, redemption, and sale of general obligation bonds
Such bonds may be executed and delivered by the state at any time and from time to time, may be in such form and denominations and of such terms and maturities, may be in fully registered form or in bearer form registrable either as to principal or interest, or both, may bear such conversion privileges […]
§ 69-2-25. Interest and interest rates on bonds
No bond issued under Sections 69-2-19 through 69-2-39 of this chapter shall bear more than one (1) rate of interest; each bond shall bear interest from its date to its stated maturity date at the interest rate specified on the bonds; and all bonds of the same maturity shall bear the same rate of interest […]
§ 69-2-27. Notice of bond sales
Notice of the sale of any such bonds shall be published at least one time which shall be made not less than ten (10) days prior to the date of sale, and shall be so published in one or more newspapers having a general circulation in the City of Jackson selected by the State Bond […]