Mississippi Development Bank Act

Sections covered

• Miss. Code Ann. § 31-25-1Short title
• Miss. Code Ann. § 31-25-101Definitions
• Miss. Code Ann. § 31-25-103Deposits into revolving fund; agreements; security; pledge of payments; recordation; enforcement of interest; resolution
• Miss. Code Ann. § 31-25-105Establishment of debt service reserve funds; disposition of moneys in funds; reserve requirements; appropriations for funds
• Miss. Code Ann. § 31-25-107Joint legislative committee
• Miss. Code Ann. § 31-25-11Quorum for conducting business; per diem compensation; expenses
• Miss. Code Ann. § 31-25-13Repealed
• Miss. Code Ann. § 31-25-15Disclosure of contractual interest
• Miss. Code Ann. § 31-25-17Acceptance of membership on bank; nonforfeiture of office or employment
• Miss. Code Ann. § 31-25-19Powers and duties of Bank
• Miss. Code Ann. § 31-25-20Power of bank to loan money to local governmental unit
• Miss. Code Ann. § 31-25-21Power of bank to loan money to local governmental unit
• Miss. Code Ann. § 31-25-23Loans to local governmental units; purchase or sale of municipal securities
• Miss. Code Ann. § 31-25-25Prohibited transactions
• Miss. Code Ann. § 31-25-27Powers of local governmental units to contract with bank; issuance of securities; pledges for repayment; personal liability of local governmental officials; validation of securities; waiver of defenses; fraudulent acts; agreements with regard to powers of State Tax Commission; certain local governmental units required to make certifications to Mississippi Development Bank before issuance of bonds; local governmental units authorized to borrow money from any United States government loan guarantee program
• Miss. Code Ann. § 31-25-28Purpose for which loan may be made
• Miss. Code Ann. § 31-25-29Intergovernmental cooperation
• Miss. Code Ann. § 31-25-3Legislative intent; construction
• Miss. Code Ann. § 31-25-31Bonds issued by Bank as general or special obligations of Bank; issuance of bonds as affecting State’s obligation to levy or collect taxes or assessments; liability of State for payment of principal or interest
• Miss. Code Ann. § 31-25-33Exemption from taxation
• Miss. Code Ann. § 31-25-35Report; audit of books and accounts
• Miss. Code Ann. § 31-25-37Issuance of bonds by bank for corporate purposes
• Miss. Code Ann. § 31-25-39Resolution of Board authorizing or relating to issuance of bonds; contracts
• Miss. Code Ann. § 31-25-41Pledge of revenues or other moneys
• Miss. Code Ann. § 31-25-43Establishment of funds or accounts
• Miss. Code Ann. § 31-25-45Purchase of bonds by Bank
• Miss. Code Ann. § 31-25-47Agreements or contracts for safekeeping of municipal bonds or other investments
• Miss. Code Ann. § 31-25-49Reservation of State power
• Miss. Code Ann. § 31-25-5Definitions
• Miss. Code Ann. § 31-25-51Bonds of bank as legal investments; authorized investments by bank
• Miss. Code Ann. § 31-25-53Chapter provisions as cumulative
• Miss. Code Ann. § 31-25-55Savings clause
• Miss. Code Ann. § 31-25-7Mississippi Development Bank created
• Miss. Code Ann. § 31-25-9Bank’s powers vested in board