The Mississippi Fair Commission, created by Section 69-5-1, shall have the power and authority, in its discretion, to borrow money from any bank or banks in an amount not in excess of Two Hundred Thousand Dollars ($200,000.00), to be used for the repair, renovation or maintenance of buildings located at the Mississippi State Fairgrounds. The Fair Commission may use any funds accruing to it to service and retire said indebtedness. Such loan shall not exceed a term of ten (10) years and shall bear interest at a rate not in excess of that provided for in Section 75-17-101.
Any loan secured under the provisions of this section shall be approved by the State Bond Commission.
Structure Mississippi Code
Title 69 - Agriculture, Horticulture, and Animals
Chapter 5 - Fairs; Stock Shows; Improvement of Livestock
Article 1 - Mississippi Fair Commission and State Fair Grounds
§ 69-5-1. Mississippi Fair Commission created
§ 69-5-5. Executive secretary of Mississippi Fair Commission
§ 69-5-7. Headquarters of Mississippi Fair Commission
§ 69-5-8. "Kirk Fordice Equine Center" designated
§ 69-5-9. Effect of Sections 69-5-1 through 69-5-9 on livestock shows
§ 69-5-13. Requests for improvement of State Fair grounds
§ 69-5-15. Revenue bonds; issuance for improvement on state fair grounds
§ 69-5-17. Revenue bonds; sale, payment and redemption
§ 69-5-19. Revenue bonds; disposition of proceeds; additional bonds in case of deficit
§ 69-5-21. Revenue bonds; state not obligated by issuance
§ 69-5-23. Revenue bonds; negotiability
§ 69-5-25. Revenue bonds; sections constitute full authority for issuance; validation