Title 57, Planning, Research and Development

The indebtedness for a loan incurred hereunder shall bear interest at the rate of five percent (5%) per annum.

It is hereby declared that the state public welfare demands and the state public policy requires legislation to encourage the establishment of standard industrial parks or districts by various subdivisions of the state in order to further stimulate the industrial development of t…

Each municipality within this state shall have the right to apply to the board for a certificate of public convenience and necessity from the board as to whether the general welfare requires that such municipality enter into the development of such a “standard” industrial park or…

(1) The board shall investigate, find and determine, upon application of any municipality therefor, as to whether a certificate of public convenience and necessity shall be issued to such municipality to engage in the acquisition and development of a “standard” industrial park or…

If and when the certificate is issued, the board therein shall fix and determine: (1) The extent and the amount to which the municipality may issue bonds or make expenditures for such development; (2) what property may be acquired therefor; (3) the terms upon which such acquisiti…

Municipalities of this state, including counties, judicial districts of counties having two judicial districts in which State Highways No. 18 and 15 intersect or in which State Highway No. 6 and Interstate Highway No. 55 intersect, supervisors districts, cities, towns or villages…

The board is hereby authorized and empowered to adopt and put into effect all reasonable rules and regulations that it may deem necessary to carry out the provisions of this chapter, not inconsistent therewith, and the board and the municipalities receiving certificates of conven…

The several municipalities of this state, including counties, supervisors districts, cities, towns or villages, or combinations thereof contiguous to and lying in the same or adjacent counties, all hereinafter referred to as “municipalities,” shall have all the rights, powers and…

The Mississippi Agricultural and Industrial Board, hereinafter referred to as the “board,” in issuing a certificate of public convenience and necessity to a municipality to engage in the acquisition and development of a “standard” industrial park or district shall be advised by t…

The Mississippi Agricultural and Industrial Board, hereinafter referred to as the “board,” shall be and is hereby authorized, empowered and directed to encourage the establishment of such industrial parks or districts where said parks or districts are found to be necessary to the…

The board shall establish, adopt and promulgate certain specific minimum requirements that will clearly describe and define the minimum requirements for an industrial park or district within the meaning of this chapter. Such minimum requirements shall, in all cases, include a com…

When any municipality shall desire to have a study made to determine the cost and feasibility of establishing a standard industrial park or district, the governing body of such municipality may, by resolution, make application to the agricultural and industrial board for the assi…

The board is charged with the duty of making effective the declared public policy of the state and municipalities as hereinabove set forth, and for that purpose is hereby authorized and empowered to determine whether the public convenience and necessity require that any municipal…

In the event that any municipality, county, supervisors district, municipal airport authority, regional airport authority or other governmental subdivision shall have surplus airport land or other lands which are not needed for airport purposes or for other governmental purposes,…

When the results of any election hereinabove provided for shall have been canvassed by the election commissioners of said municipality or governmental district and certified by them to the proper authorities, it shall be the duty of the municipality or other authority involved to…

This chapter, without reference to any other statute, shall be deemed to be full and complete authority for the issuance of bonds and borrowing of money as hereby authorized by municipalities or other governmental authority, and shall be construed as an additional and alternate m…

For the purpose of providing funds to defray the expenses of improving and developing the airport properties as set forth in Section 57-7-1, the said municipality or other authority shall have the right to borrow money for the industrial improvement of its lands and property, and…

All bonds issued under the authority of this chapter shall bear such date or dates, shall be in such form or denomination, shall bear such rate of interest, and shall mature at such times as the said municipality or other authority shall determine, but no bonds issued under the a…

Before issuing any bonds under the provisions of this chapter, the municipality or other authority shall, by resolution spread upon the minutes, declare its intention to issue such bonds for the purposes authorized by this chapter and shall state in said resolution the amount of …

If an election shall be called under the provisions of this chapter on the question of the issuance of bonds, the election shall be held, insofar as practicable, in the same manner as other elections are held in said municipality or other governmental subdivision. At such electio…

This chapter may be cited as the “Industrial Training Law of 1964.”

(a) It is hereby declared that the state public welfare demands, and the state public policy requires:(a) That a balanced economic development of this state is essential.(b) That the present and prospective health, safety, morals, pursuit of happiness, right of gainful employment…

The Mississippi Agricultural and Industrial Board, hereinafter referred to as the “board,” is hereby authorized and empowered to formulate and place into existence, plans for industrial plant training and recruitment for new and expanded industries, or both, in Mississippi. To th…

(a) Any municipality, hereinafter referred to as “the applicant,” may, on behalf of any new or expanded industry, or both, in Mississippi, apply to the board for a loan, not to exceed twenty thousand dollars ($20,000.00) for any one (1) new or one (1) expanded industry, which fun…

In the event the board shall issue a certificate of public convenience and necessity to the applicant, and approve a loan of a sum, such sum as approved to be loaned, shall be disbursed to the applicant upon the execution of a legally valid and enforceable promissory note, deed o…

It is hereby declared to be the public policy of this state and the purpose of this article to improve and stimulate the state’s economy in general, and the small business segment thereof in particular, by establishing a program to stimulate and supplement the flow of private equ…

(a) The board of directors of the corporation is hereby authorized, in its discretion, based on sound business principles, to:(a) Receive applications for and make direct term loans to small businesses, including any person, firm, corporation, joint stock company, partnership, as…

In addition to the other powers and authority prescribed by this article, the corporation may purchase debentures or the common stock of small business investment companies or minority enterprise small business investment companies, incorporated or domiciled in the state under th…

(a) Any loans by the corporation to a small business investment company or minority enterprise small business investment company, shall be conditioned on the following:(a) A loan to a small business investment company or minority enterprise small business investment company shall…

Any small business investment company or minority enterprise small business investment company wishing to participate under this article shall pay a five hundred dollar ($500.00) fee annually on July 1 to the corporation which shall be deposited in a qualified state depository, t…

It is the further intention of this article that the initial capital base of the corporation be raised from a combination of private foundation grants, any funds available from various federal programs, and such funds as may be appropriated by the state. Additional funding of the…

All funds received by the corporation from any source whatsoever shall be deposited in a qualified state depository to the credit of the “Mississippi Economic Development Corporation,” said funds to be disbursed therefrom upon checks drawn upon said account after approval of said…

The Certified Development Company of Mississippi, Inc., created pursuant to Section 57-10-167, hereinafter referred to as the “corporation,” shall exercise the powers and duties and discharge the responsibilities as provided herein.

No officer or director of this corporation shall ever be held personally liable for contracts, debts or defaults of this corporation nor shall any mere informality in organization have the effect of rendering these null or of exposing the officers or directors to any such liabili…

All state agencies shall cooperate with the corporation, and all public institutions of higher education shall work with the corporation to facilitate the utilization of technological information by small businesses in this state.

An annual report concerning the operation of this article shall be submitted by the corporation to the Legislature.

In the event of dissolution and liquidation of the corporation, whether voluntary or involuntary or by reason of the repeal of this article and thereby terminating its corporate existence, any surplus assets of the corporation in excess of the corporation’s outstanding liabilitie…

This corporation is organized, and it shall be operated primarily for the purpose of providing financial resources necessary to implement the economic development of the state by creating a pool of capital assets to expand the agricultural, industrial and commercial enterprises o…

This article shall be called the “Small Businessman’s Loan Assistance Law of 1972.”

The increasing need for commercial financing at reasonable rates for the small businessman necessitates a new loan guaranty program in order that the economy of the state may continue to grow and prosper. It is the intent of this article to encourage small business loans by furni…

(a) Whenever the following terms or similar terms are used herein they shall have the following meanings, unless the context clearly indicates otherwise:(a) “Borrower” means any individual, firm, partnership or corporation approved by the committee, residing in Mississippi who ap…

The manager shall be required to have a surety bond in an amount to be fixed by the committee. The manager, subject to the approval of the committee, is authorized to employ such additional technical, clerical and stenographic assistance as may be necessary to carry out the provi…

The committee is authorized and empowered to prepare and promulgate reasonable rules, regulations and policies for applications for loans, credit instruments, and any and all other forms, rules, policies, regulations or procedures desirable in order to carry out the provisions of…

A borrower may apply to the committee for a loan guaranty necessary to meet the lender’s approval of the loan. The borrower must demonstrate his inability to obtain conventional financing, and thus the need for the state loan guaranty.

(1) On every loan, the borrower shall pay a nonrefundable guaranty fee of two percent (2%) of the guaranteed portion, to be paid at the time of disbursement of loan proceeds. Upon collection, the committee shall remit all such guaranty fees to a special fund for such fees created…

If there is a corporate borrower, the committee shall require the personal guarantee or endorsement of any principal or entity owning at least twenty percent (20%) of the corporation that is borrowing money from any lender under the provisions of this article, and the committee m…