Indebtedness incurred as a loan under the provisions of this chapter shall not exceed five (5) years from the date of the contribution by the state, and any such indebtedness shall be repaid in equal annual installments. Any indebtedness incurred as a loan under the provisions of this chapter shall not be included in computing the debt limit under any other statute.
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