Any agreement as hereinabove provided for, reached between the board and the city or county, or other authorized port or harbor agency, shall be reduced to writing and shall set out the terms and conditions under which such port or harbor, or any part thereof, shall be conveyed to the state and shall specifically set out the minimum amount of bonds, if any, to be issued by the state for the improvement, operation, development, and expansion of such port or harbor, or any part thereof. When such agreement has been approved by the board, the city or county, or other authorized port or harbor agency, and the port commission, or port authority of the city or county, a conveyance of such port or harbor, or any part thereof, to the State of Mississippi, shall be executed by the city or county, or other authorized port or harbor agency, joined in by the port commission or port authority of the city or county, without monetary consideration. Such conveyance shall be in such form as may be prescribed by the board, but shall be conditioned on the issuance of bonds by the state in the minimum amount set out in such agreement for the improvement, operation, development or expansion of such port or harbor, or any part thereof. If such agreement shall provide that the entire port or harbor shall be conveyed to the state and shall be owned and operated by the state, then no such agreement shall become effective until approved by a majority of the qualified electors of the city or county having jurisdiction of such port or harbor voting in an election called for that purpose in the same manner as in other city or county special elections.
Structure Mississippi Code
Title 59 - Ports, Harbors, Landings and Watercraft
Chapter 5 - State Ports and Harbors
§ 59-5-1. Short title; definition of "board"
§ 59-5-3. Declaration of public policy
§ 59-5-7. Activities of board and state port authority pursuant to chapter as governmental functions
§ 59-5-11. General powers of board; lands subject to jurisdiction and control of board
§ 59-5-13. Acceptance of grants and contributions
§ 59-5-21. Operation by state port authority of ports or harbors acquired by or conveyed to state
§ 59-5-23. Authorization of contracts, etc., for improvement, operation, etc., of port or harbor
§ 59-5-27. Bond of members of port or harbor agency
§ 59-5-29. Increase in membership of county port authority upon issuance of bonds
§ 59-5-33. State ports fund; joint activities or employment of personnel
§ 59-5-39. Acquisition of rights of way, land, etc.
§ 59-5-41. State bonds; issuance, terms, and conditions; interim financing of construction projects
§ 59-5-43. Negotiability of bonds; exemption from taxation
§ 59-5-45. Manner and price of sale of bonds; interest; maturity and redemption
§ 59-5-47. Disposition of proceeds of bonds
§ 59-5-49. Validation of bonds
§ 59-5-51. Payment of interest and principal on bonds; limitation on amount of bonds issued
§ 59-5-53. Withdrawals of bond proceeds from special fund
§ 59-5-55. Use of net revenues, rents, and earnings from state owned ports
§ 59-5-59. Allocation of revenues, rents and earnings to payment of bonds; sinking fund
§ 59-5-63. Bonds as legal investments and securities for deposits of public funds