The initial authorization for any business improvement district shall be for ten (10) years. During the last twelve (12) months of the tenth year of the authorization, a new district plan must be developed which meets all of the initial requirements of the district plan plus reauthorizes the district for another ten (10) years. Reauthorization requires the same approval process as initial establishment and authorization of the district. Should the district fail to receive reauthorization from the affected property owners in the district, the business improvement district will cease to exist at the conclusion of the most recently approved ten-year period or as soon thereafter as any outstanding indebtedness is satisfied. The ability to reauthorize rests solely with the affected property owners in the district.
Structure Mississippi Code
Chapter 43 - Business Improvement Districts
Business Improvement Districts Act
§ 21-43-103. Legislative findings of fact and declaration of intent
§ 21-43-107. Creation of business improvement districts authorized
§ 21-43-111. Initiation of efforts to form business improvement district
§ 21-43-115. Voting upon proposed district plan