Any contract for the lease of any development for the manufacture of ships, vessels, shipyards, shipbuilding facilities, machinery and equipment, ship components, systems, parts, fuel and materials required or incidental to any of such purposes to be constructed out of the proceeds of bonds to be issued under the provisions of this chapter may be exempt from ad valorem taxation except state ad valorem taxation and school district ad valorem taxation. The time of such exemption shall not exceed a total of ten (10) years, which shall commence from the date of the contract. Any request for an exemption must be made in writing before the date of the contract.
The lessee shall be required, after the expiration of any exemption granted hereunder, to pay ad valorem taxes on the leasehold notwithstanding that title to such development is vested in the county and port authority.
Structure Mississippi Code
Title 59 - Ports, Harbors, Landings and Watercraft
Chapter 9 - County Port Authority or Development Commission
§ 59-9-1. Declaration of public policy
§ 59-9-7. Creation of county port authority or development commission; composition; jurisdiction
§ 59-9-9. Appointment, oath, bond, and terms of office of members
§ 59-9-11. Organization; meetings
§ 59-9-13. Compensation of members
§ 59-9-17. General powers and authority of county; validation of prior acts
§ 59-9-19. Additional powers and authority of county
§ 59-9-23. Establishment and development of industrial parks
§ 59-9-25. Contracts for construction, maintenance, etc., of ports, facilities, etc.
§ 59-9-29. Jurisdiction over lands
§ 59-9-31. Lease or sale of unused lands for industrial purposes; authority and limitations
§ 59-9-33. Lease or sale of unused lands for industrial purposes; terms and conditions
§ 59-9-37. Issuance of bonds and interim certificates
§ 59-9-39. Attorney's fees for issuance of general obligation bonds
§ 59-9-43. Sale and disposition of proceeds of bonds issued under §§ 59-9-37 and 59-9-41
§ 59-9-45. Negotiability and taxation of bonds issued under §§ 59-3-37 and 59-9-41
§ 59-9-47. Proceedings for issuance and validation of bonds issued under §§ 59-9-37 and 59-9-41
§ 59-9-49. Levy of ad valorem tax for operating fund
§ 59-9-51. County-wide election on issuance of bonds under §§ 59-9-37 and 59-9-41
§ 59-9-53. Pledge of county credit and resources for payment of bonds; issuance of revenue bonds
§ 59-9-55. Investment of proceeds of bonds
§ 59-9-59. Joint bond issue; tax levy; collection and disposition of taxes
§ 59-9-61. Joint bond issue; control of facilities; collection and disposition of revenues
§ 59-9-63. Joint bond issue; powers and duties of counties and municipalities
§ 59-9-69. Additional general obligation bonds
§ 59-9-73. Negotiability and taxation of bonds issued under Sections 59-9-65 through 59-9-75
§ 59-9-77. Construction of chapter
§ 59-9-79. Validation of bonds
§ 59-9-81. Applicability of debt limitation