As used in this chapter, “general obligation bonds” means bonds of the State of Mississippi, to the repayment of which, both as to principal and interest, the full faith, credit and taxing power of the State of Mississippi are irrevocably pledged until the principal and interest is paid in full.
Upon the issuance and sale of such bonds, the State Bond Commission shall transfer the proceeds of any such sale or sales to a special fund in the State Treasury to be known as the “Institute for Technology Development Fund.” The proceeds of such bonds shall be used solely for the payment of the cost […]
Any holder of bonds issued under the provisions of this chapter or of any of the interest coupons pertaining thereto may, either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce any and all rights granted hereunder, or under such resolution, and may enforce and compel performance of all […]
Such general obligation bonds may be issued without any other proceedings or the happening of any other conditions or things than those proceedings, conditions and things which are specified or required by this chapter. Any resolution providing for the issuance of general obligation bonds under the provisions of this chapter shall become effective immediately upon […]
All bonds issued under the provisions of this chapter shall be legal investments for trustees and other fiduciaries, and for savings banks, trust companies and insurance companies organized under the laws of the State of Mississippi, and such bonds shall be legal securities which may be deposited with and shall be received by all public […]
This chapter shall be deemed to be full and complete authority for the exercise of the powers herein granted.
The funds which are transferred from the sale of bonds under this chapter to the special fund in the State Treasury known as the “Institute for Technology Development Fund” may be withdrawn only in the following manner: Such funds shall be paid by the State Treasurer upon warrants issued by the State Fiscal Management Board, […]
Except as otherwise authorized in Section 7-5-39, the Attorney General of the State of Mississippi shall represent the State Bond Commission in issuing, selling and validating bonds herein provided for, and the bond commission is hereby authorized and empowered to expend from the proceeds derived from the sale of the bonds authorized hereunder all necessary […]
Audits of the Institute for Technology Development (ITD) are to be performed by the State Auditor in accordance with the provisions of this section. Such audits shall be conducted by the State Auditor in a manner that will result in the review of the ITD’s use of funds from the perspective of ITD’s fiscal year, […]
The Institute for Technology Development (ITD) is authorized to establish and administer four (4) programs to provide assistance grants to developers of inventions or innovative ideas, using funds appropriated by the Legislature for that purpose and other funds available to ITD for that purpose. The four (4) programs shall provide moneys to inventors, innovators and […]
The State Bond Commission shall have the power and is hereby authorized, at one time or from time to time prior to June 30, 1994, to issue negotiable general obligation bonds of the State of Mississippi to pay all or any part of the cost of defraying the state’s share of supporting the Institute for […]
Upon the adoption of a resolution by the Board of Directors of the Institute for Technology Development declaring the necessity for the issuance of any part or all of the general obligation bonds authorized by this chapter, the board shall deliver a certified copy of its resolution to the State Board of Economic Development, the […]
All general obligation bonds of the State of Mississippi and interest coupons issued under the provisions of this chapter shall have and are hereby declared to have all the qualities and incidents of negotiable instruments under the negotiable instruments law of the State of Mississippi. Such bonds and the income therefrom shall be exempt from […]
The State Bond Commission shall sell such bonds in the manner and at a price which will result in the lowest interest rate on the best terms obtainable for the state, but no such sale shall be made at a price less than par plus accrued interest to date of delivery of the bonds to […]
