Mississippi Code
Chapter 75 - Mississippi Major Economic Impact Act
§ 57-75-3. Legislative findings and declarations

The Legislature hereby finds and declares that:
There exists in the State of Mississippi a continuing need for gainful employment for the citizens of this state.
To help provide employment opportunities, a division within the Mississippi Development Authority should be created with power to secure the location and expansion within this state of major economic impact projects by providing assistance and incentives in connection with such projects.
In accomplishing this purpose, such division will be acting in all respects for the benefit of the people of the state in the performance of essential public functions and is serving a valid public purpose in improving and otherwise promoting their health, welfare and prosperity, and the enactment of the provisions hereinafter set forth is for a valid public purpose.
Public agencies of the state, as herein defined, must be authorized and empowered to contract with and cooperate with the authority for the purposes herein set out.
The borrowing of money and the issuance of bonds for the purposes hereinafter set out serves valid public purposes in that the project will significantly contribute to the employment base and scientific and educational growth of the state.
The Mississippi Major Economic Impact Authority created pursuant to this chapter shall implement the provisions of this chapter and exercise all power as authorized in this chapter; however, the application of this chapter or the offering of any assistance and incentives as to any particular project or person shall be in the sole discretion of the Mississippi Major Economic Impact Authority, and nothing in this chapter shall be deemed to vest in any person any right to any assistance or incentive contained herein unless the assistance or incentive is approved by the Mississippi Major Economic Impact Authority pursuant to this chapter. The exercise of powers conferred by this chapter shall be deemed and held to be the performance of essential public purposes.

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