It is hereby determined and declared to be the policy of the state that, for the benefit of the people of the State of Mississippi, it is essential to foster and promote by all reasonable means the provision of adequate access to capital markets and facilities for borrowing money to finance infrastructure improvements and other public purposes from the proceeds of bonds and to the extent possible to reduce costs of indebtedness to taxpayers and residents of the state through the encouragement of investor interest in the purchase of such bonds as sound and preferred securities for investment. It is further found and declared that the state should exercise its powers to further and implement these policies by authorizing an independent public body to be created and to have full power to borrow money and to issue its bonds and notes to make funds available at reduced rates and on more favorable terms for borrowing as provided in this act. This act shall be liberally construed to accomplish the intentions, purposes and objects expressed herein.
Structure Mississippi Code
Title 31 - Public Business, Bonds and Obligations
Chapter 25 - Mississippi Development Bank Act
Article 1 - General Provisions
§ 31-25-3. Legislative intent; construction
§ 31-25-7. Mississippi Development Bank created
§ 31-25-9. Bank's powers vested in board
§ 31-25-11. Quorum for conducting business; per diem compensation; expenses
§ 31-25-15. Disclosure of contractual interest
§ 31-25-17. Acceptance of membership on bank; nonforfeiture of office or employment
§ 31-25-20. Power of bank to loan money to local governmental unit
§ 31-25-21. Power of bank to loan money to local governmental unit
§ 31-25-23. Loans to local governmental units; purchase or sale of municipal securities
§ 31-25-25. Prohibited transactions
§ 31-25-33. Exemption from taxation
§ 31-25-35. Report; audit of books and accounts
§ 31-25-39. Resolution of Board authorizing or relating to issuance of bonds; contracts
§ 31-25-41. Pledge of revenues or other moneys
§ 31-25-43. Establishment of funds or accounts
§ 31-25-45. Purchase of bonds by Bank
§ 31-25-47. Agreements or contracts for safekeeping of municipal bonds or other investments
§ 31-25-49. Reservation of State power