There is hereby established in the State Treasury a revolving fund to be designated as the "industrial development fund." Such funds as may be deposited in the fund shall be used, either as loans or grants, for the purpose of making the state's contribution for matching federal grants available under the provisions of Section 304, Public Works and Economic Development Act of 1965, as amended, for political subdivisions of the state as hereinafter set forth.
Structure Mississippi Code
Title 57 - Planning, Research and Development
Chapter 4 - Industrial Development Fund
§ 57-4-7. Contributions made as loans to be evidenced by negotiable promissory notes
§ 57-4-9. Interest rate on indebtedness for loan
§ 57-4-15. Proceeds of state contributions to be used only for matching federal funds
§ 57-4-19. Deposit of repayments
§ 57-4-21. Payment of expenditures for state contributions to be upon warrants drawn on fund