Title 57, Planning, Research and Development

In the event of a default, the Certified Development Company shall call upon the letter of credit guaranteeing the principal amount of the loan plus interest due. Failure to comply with lending criteria shall result in a penalty which the company may establish by regulation, and …

No loan shall be made to a private company under this act unless the private company certifies to the Certified Development Company of Mississippi, Inc., in a form satisfactory to the company, that it will not discriminate against any employee or against any applicant for employm…

(1) There is hereby created a special fund in the State Treasury to be known as the Mississippi Small Enterprise Development Finance Fund out of which the Certified Development Company of Mississippi, Inc., shall provide loans authorized by this act. All monies received by the co…

(1) All bonds issued under the authority of this act shall be redeemed at maturity, together with all interest due, from time to time, on the bonds, and these principal and interest payments shall be paid from the Mississippi Small Enterprise Development Finance Sinking Fund. All…

(1) The seller is authorized to borrow, on the credit of the state, upon receipt of a resolution from the company requesting the same, money not exceeding the aggregate sum of Ninety Million Dollars ($90,000,000.00), outstanding at any one time, not including money borrowed to re…

(1) 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.…

(1) Pending the issuance of bonds of the state as authorized under this act, the seller is hereby authorized in accordance with the provisions of this act and on the credit of the state, to make temporary borrowings not to exceed two (2) years in anticipation of the issue of bond…

It is the purpose of this act to promote business and economic development in the State of Mississippi through job producing programs and by providing loans to the Certified Development Company of Mississippi, Inc., as defined in this act; to assist in securing investment in smal…

(1) The proceeds realized from the sale of bonds and notes under this act, other than refunding bonds and replacement notes, shall be paid to the State Treasurer and deposited into the Mississippi Small Enterprise Development Finance Fund or funds and specifically dedicated to th…

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 deriv…

The term “this act” referred to in Sections 57-71-1 through 57-71-33 hereof shall mean the Mississippi Small Enterprise Development Finance Act unless the context clearly indicates otherwise.

(a) The following words and phrases when used in this act shall have the meaning given to them in this section unless the context clearly indicates otherwise:(a) “MBFC” or “company” means the Mississippi Business Finance Corporation.(b) “Private company” means any agricultural, a…

There is hereby established, under the direction of the Certified Development Company of Mississippi, Inc., a program to be known as the Mississippi Small Enterprise Development Finance Program for the purpose of making loans to qualified private companies in order to provide fin…

Any private company desiring to borrow from the program shall make application to the company. The company shall define and publish criteria for eligibility for the program and timetable for review. All loan applications shall identify a qualified financial institution which will…