State Inland Ports

Miss. Code Ann. tit. 59, ch. 17
in effect

Miss. Code Ann. § 59-17-1 Short title; “board” defined.

This chapter may be cited as the “State Inland Ports Law.” As used in this chapter, the word “board” shall mean the Mississippi Development Authority.

Miss. Code Ann. § 59-17-3 Declaration of public policy.

It is hereby declared to be the public policy of the state to aid the industrial development and economy of the state through the acquisition, promotion, development, improvement and expansion of inland ports and attendant industrial sites.

Miss. Code Ann. § 59-17-5 Construction of chapter.

This chapter shall be construed liberally and broadly to effectuate the policy and purposes set out herein. This chapter shall be deemed to be full and complete authority for the exercise of the powers herein granted, but this chapter shall not be deemed to repeal or to be in derogation of any existing law of this state. The provisions of this chapter shall not be construed to repeal, amend, limit, or restrict statutes heretofore or hereinafter enacted, providing for the establishment, support, financing, and maintenance of port commissions, authorities, or other local agencies having jurisdiction over harbors, ports, rivers, channels, and waterways, nor to be applicable to any bond issue, heretofore or hereafter issued for port or harbor purposes by any county or municipality in which said port is located, and the provisions hereof shall be supplemental and cumulative and shall not repeal, limit, or restrict the authority granted any public body or agency under any existing statute, except as herein otherwise expressly provided.

Miss. Code Ann. § 59-17-7 Functions of board and inland port as essential governmental functions.

The carrying out of the corporate purposes of the board and the state inland port authority is, in all respects, for the benefit of the people of the State of Mississippi and is a public purpose, and the board and such state inland port authority will be performing an essential governmental function in the exercise of the powers conferred upon them by this chapter.

Miss. Code Ann. § 59-17-9 Duty of board to implement public policy; construction of rights, powers and duties of board.

There is hereby vested in the board the duty to implement such declared public policy as herein provided. Wide latitude and discretion shall be vested in the board in the exercise of its powers and duties, and the enumeration of specific rights, powers, and duties of said board, when followed by general powers, shall not be construed in the restrictive sense.

Miss. Code Ann. § 59-17-11 Condition precedent to board action.

The board shall take no action in building, constructing, acquiring, or developing any state-owned inland port unless the Tennessee Valley Authority or other governmental agency agrees to furnish at least seventy-five percent (75%) of the cost of building, acquiring, constructing, or developing said port.

Miss. Code Ann. § 59-17-13 General powers of board; State Inland Port Authority authorized to borrow money and to enter into a joint agreement with a county or municipality to issue revenue bonds; leases executed by State Inland Port Authority exempt from ad valorem taxes if so stipulated in lease.

The board shall have power to acquire, purchase, install, lease, construct, own, hold, maintain, equip, use, control, and operate ports, harbors, waterways, channels, wharves, piers, docks, quays, elevators, tipples, compresses, bulk loading and unloading facilities, warehouses, floating dry docks, graving docks, marine railways, tugboats, machinery and equipment, and water, air and rail terminals, and roadways and approaches thereto, and other structures and facilities needful for the convenient use of the same in the aid of commerce, including the dredging, deepening, extending, widening, or enlarging of any ports, harbors, rivers, channels, and waterways, the damming of inland waterways, the establishment of water basins, the acquisition and development of industrial sites and the reclaiming of submerged lands. The State Inland Port Authority, subject to the approval of the board, shall have the power to borrow money from any source, public or private, for any of its corporate purposes and to give such security as may be required in connection therewith and to enter into a joint agreement with the boards of supervisors of any county, or the governing authority of any municipality, or both acting jointly, to issue revenue bonds of such county or municipality, or both, acting jointly, as provided by Section 59-7-311 which bonds may be payable out of any revenues of the authority, including grants or contributions from the federal government or other sources. Such revenue bonds may be issued without an election on resolution of the board of supervisors, governing body of the municipality, or both acting jointly, and shall not be subject to any limitation as to amount, and shall not be included or computed in the statutory limitation of indebtedness of any such county or municipality. All leases which are now in effect or which may hereafter be executed by the State Inland Port Authority for port, harbor, commercial or industrial improvements, and all structures and all improvements and other permanent facilities erected, installed or located by such lessees, or their successors or assignees within the limits of any port, harbor or part thereof, may be free and exempt from all state, county and municipal ad valorem taxes if so stipulated in such lease, and for such period as may be fixed in such lease, not to exceed such periods of time as are now authorized or may be hereafter authorized by law.

Miss. Code Ann. § 59-17-15 Acceptance of grants and contributions by board.

The board, in addition to the monies which may be received by it from the sale of bonds, the proceeds of a loan, and from the collection of revenues, rents and earnings derived under the provisions of this chapter, shall have the authority to accept from any public or private agency, or from any individual grants or loans for or in aid of the construction of any planned development, or for the payment of bonds, and to receive and accept contributions from any source, of money or property or other things of value to be held, used and applied only for the purposes for which such grants, loans or contributions may be made.

Miss. Code Ann. § 59-17-17 Appraisal of plan for project; agreement between board and county or agency proposing project.

On the receipt of an application from any county or agency authorized under the laws of the State of Mississippi to operate or support a port or harbor project, or any part thereof, the board shall cause an independent determination and appraisal to be made of such analysis and survey, and the plan for the improvement, operation, development and expansion of such port or harbor, or any part thereof, and if the board shall find and determine that the plan for the improvement, operation, development or expansion of such port or harbor, or any part thereof, is practical and feasible and is in the public interest, and that such port or harbor, or any part thereof, can be operated economically under state ownership, and that the revenues therefrom would be sufficient, over a period of time, to make such ownership and/or operation by the state self-liquidating, then the board, in its discretion, may negotiate with such participating counties as required by this chapter or other authorized agency on the terms of an agreement for the acquisition by the state of such port or harbor, or any part thereof. The board may modify the proposed plan for the improvement, operation, development or expansion of such port or harbor, or any part thereof, and may impose such terms and conditions as, in its discretion, it may require to protect the interest of the state. Any agreement reached between the board and the participating counties, or other authorized agency, shall be reduced to writing.

Miss. Code Ann. § 59-17-19 Tax levy by counties for payment of bonds.

Before any additional bonds may be issued for equipment as authorized by Section 59-17-41, at least one (1) county shall have levied a tax upon all the taxable property, both real and personal, within its boundaries for the purpose of paying the principal and interest on such bonds and the aggregate amount of the additional issue shall have been approved by the board of economic development. Such tax shall be in an amount sufficient to pay the principal of and interest on the additional bonds issued for equipment as authorized by Section 59-17-41, and such tax levy shall not be reimbursable under the homestead exemption laws of this state. The ad valorem tax levied by any county or counties under this section shall be reduced in whole or in part when the board and the state inland port authority find and determine that there has been or will be received in the state inland port authority fund a sufficient sum of money from other net revenues, thereby eliminating the need for this county tax levy.

Miss. Code Ann. § 59-17-21 Contract with master water management district to underwrite financial obligations for project.

In the event no three (3) counties shall contract on the basis provided for in Section 59-17-19, then any master water management district may be considered an authorized agency and may enter into a contract with the board whereby they must agree to underwrite any deficits incurred from the operation of the port and/or obligations incurred by the board for the port authority. The board will contract with a master water management district only after they have been convinced that adequate security has been furnished the board to protect the state’s investment.

Miss. Code Ann. § 59-17-23 Operation of port or harbor by state inland port authority; composition of authority; appointment and terms of office of members.

Any port or harbor, or any part thereof, and all facilities, structures, lands or other improvements, leased by, acquired by or conveyed to the state shall be operated by the board acting through a state inland port authority for such port or harbor, except as may be otherwise provided in this chapter. Such port authority shall be vested, in addition to the rights, powers and duties conferred hereunder, with the same jurisdiction, and the same rights, powers, and duties vested by law, in other port authorities within the state. Any conflict with other laws shall be governed by this chapter. The state inland port authority shall consist of one member from the county in which the port is located and one member from each county that is contiguous to the county in which the port is located to be appointed for a period of four years by the respective board of supervisors of each of those counties, provided each county has levied the two mills required in Sections 59-17-19 and 59-17-21 and the governor shall appoint one member from each participating county outlined above of which two mills has been levied, plus one additional member from any one of the participating counties outlined above of which two mills has been levied. The initial terms by the governor’s appointees shall be staggered, one member appointed for two years and others by adding one additional year; no term shall exceed five years. The number of years to be served on regular terms shall be the same number as the number of governor’s appointees. In the event the contracting agency is any master water management district, the board shall consist of the following: one member from the county in which the port is located and one member from each county that is contiguous to the county in which the port is located to be appointed by the respective boards of supervisors for a period of four years, and the governor shall appoint one member from each of the counties outlined above, plus one additional member from any one of the counties outlined above. The governor’s five appointees’ initial terms shall be for one, two, three, four and five years respectively, but all succeeding appointments shall be for terms of five years.

Miss. Code Ann. § 59-17-25 Organization of state inland port authority; oath and bond of members.

The members of the state inland port authority shall organize under the direction of the board in the same manner that state port authorities are organized and shall be entitled to compensation not exceeding that authorized by law for a state port authority. In its operation of such port or harbor, or any part thereof, such state inland port authority shall not be responsible to the counties participating, in which such port or harbor, or any part thereof, may be located, or other authorized port or harbor agency, but shall be responsible solely to the board. Before entering upon the duties of the office, each of said members shall take and subscribe to the oath of office required by Section 268 of the Mississippi Constitution of 1890, and shall file same with the secretary of state, and shall give bond in the sum of ten thousand dollars ($10,000.00), with a surety company or companies, authorized to do business in this state, conditioned according to law, and to be delivered to and approved by the treasurer of the State of Mississippi; the premiums on said bonds shall be paid from port funds.

Miss. Code Ann. § 59-17-27 State inland port fund; board may contract for joint activities or employment of personnel.

The agreement between the board and the participating counties or other authorized agency shall provide that a fair and proportionate part of the expense of the board administering this chapter shall be considered a part of the cost of the development or operation of the planned development, and such costs shall be paid into a separate state fund in the state treasury, to be known as the “state inland ports fund.” Such fund shall be used by the board for the promotion, development, construction, improvement, expansion, maintenance, advertising, and general advancement of the state harbors, ports, rivers, channels, and waterways and may be expended on requisition of the board for such purposes and such other purposes as in the opinion of the board is to the best interest of the ports, harbors, and waterways of this state. The salaries of all officers, employees, or agents of the board, performing duties required by this chapter, and all other expenses incidental to the port, harbor, or waterway operation of the board shall be fixed by the board and payable out of said fund. The board may contract with one or more state inland port authorities, or any city, county or other authorized port or harbor agency for any joint activity or for the joint employment of personnel with the expense of the activity or salary of such personnel to be paid by the board from operational funds provided by the contracting parties.

Miss. Code Ann. § 59-17-29 Setting aside or leasing of lands and facilities by board.

The board, acting jointly with the State Inland Port Authority, is authorized to set aside, or lease all or portions of any lands, roads, docks, sheds, warehouses, elevators, compresses, floating dry docks, graving docks, marine railways, tugboats, or any other necessary or useful improvements constructed or acquired by it to individuals, firms, or corporations, public or private, for port, harbor, commercial or industrial purposes for a period not to exceed ninety-nine (99) years, or to execute a conveyance of sale on such terms and conditions and with such safeguards as would best promote and protect the public interest. Any industrial lease of lands or conveyance of sale may be executed upon such terms and conditions and for such monetary rental or other consideration as may be found adequate and approved by the board in orders or resolutions authorizing the same. Any covenants and agreements of the lessee or purchaser to make expenditures in determined amounts, and within such time or times, for improvements to be erected upon the land by such lessee or purchaser and to conduct thereon industrial and/or other operations in such aggregate payroll amounts and for such period of time as may be determined and defined in such lease or conveyance, and to give preference in employment where practical to residents of the State of Mississippi and to qualified residents of the city and the county in which such port or harbor is located, shall, if included in such lease or conveyance, constitute and be deemed sufficient consideration for the execution of any such lease or conveyance in the absence of monetary rental or other considerations; any such instrument may contain reasonable provisions giving the lessee the right to remove its or his improvements upon the termination of the lease.

Miss. Code Ann. § 59-17-31 Authority of board or inland port authority to employ personnel, make contracts and purchases, and sue and be sued.

The board or the State Inland Port Authority, in the performance of its duties, may employ such personnel and make all contracts and purchases incidental to or necessary for the advancement, promotion, development, establishment, insurance, maintenance, repair, improvement and operation of any ports, harbors, rivers, channels and waterways, including, if required for its protection, retirement benefits, workers’ compensation insurance and other employee benefits for the benefit of any employees of the board or State Inland Port Authority. The board or State Inland Port Authority shall make such contracts or purchases in accordance with state purchasing laws. Contracts let for any port, harbor, river, channel or waterway improvements shall be advertised as required by law for the letting of public contracts, and such contracts shall be awarded to the lowest and best bidder, who shall make such bond as shall be required by the board or State Inland Port Authority, conditioned for the faithful prosecution and completion of the work according to such contract, such bond to be furnished by a corporate surety company qualified to do business in this state. However, the board may negotiate and enter into contracts with responsible lessees for the construction of facilities by lessees, such as those referred to in Section 59-17-13, Mississippi Code of 1972, and the acquisition thereof by the board upon such terms and conditions and for such amounts as may be approved by the board. Where the rentals provided in the lease will be sufficient to fully repay the cost of the particular facility or where the monetary consideration for a deed is sufficient to fully repay the cost of land acquired for industrial operations described in the deed, contracts for construction, repairs, maintenance and operation of the facility or for the sale of the land may be negotiated and consummated without the necessity of advertising and obtaining competitive bids therefor. The authority is granted the power to sue and be sued in its own name.

Miss. Code Ann. § 59-17-33 Acquisition of rights of way, land and property by board generally; restriction on power of eminent domain.

For the acquiring of rights-of-way, land and property, including existing easements, restrictive covenants and reversionary estates necessary for the purpose herein authorized, the board shall have the right and power to acquire the same by purchase, negotiation or condemnation, and, should it elect to exercise the right of eminent domain, it may proceed in the manner provided by the general laws of the State of Mississippi for procedure by any county, municipality or corporation organized under the laws of this state, or in any other manner provided by law. The power of eminent domain shall apply not only as to all property of private persons or corporations, but also as to property already devoted to public use, including leaseholds, excepting interests in property owned by levee boards, drainage districts, or other flood control agencies. However, the board shall have no authority to acquire without the consent of the owner thereof any property operated and used for port, harbor or industrial purposes or such purposes as the board is authorized to acquire and use property for, unless an actual necessity therefor be alleged and proven. The board is authorized to accept donations of lands, rights therein, moneys and materials required for the maintenance or development of any port or harbor. The board may exchange any property or properties acquired under the authority of this chapter for other property or properties usable in carrying out the powers hereby conferred, and also remove from lands needed for its purposes and reconstruct on other locations, buildings, utilities, terminals, railroads or other structures upon the payment of just compensation, if it is necessary so to do, in order to carry out any of its plans for port development. The title to all land or property acquired under the authority of this chapter shall vest in the State of Mississippi. Nothing contained in this section shall be construed to authorize the taking by eminent domain of any private property except for necessary public use, said right of eminent domain to be limited to the acquisition of railroad rights-of-way, road rights-of-way and land for industrial use only.

Miss. Code Ann. § 59-17-35 State bonds; issuance, terms, and conditions generally.

The board shall have power and is hereby authorized, at one (1) time, or from time to time, to provide by resolution for the issuance of negotiable bonds of the State of Mississippi by the state bond commission to provide funds for the purpose of paying all or any part of the cost of the acquisition of any state port, harbor, waterway or part thereof, and the planned development of any port, harbor, waterway or part thereof, but in no event shall the amount of such bonds issued exceed the actual cost of an approved plan for the development of any port, harbor, waterway or part thereof. The principal of and the interest on such bonds shall be payable from a special fund to be provided for that purpose in the manner hereinafter set forth. Such bonds shall bear the date or dates, be in such denomination or denominations, bear interest at such rate or rates, be payable at such place or places within or without the State of Mississippi, shall mature absolutely at such time or times, be redeemable prior to maturity at such time or times and upon such terms, with or without premium, shall bear such registration privileges, and shall be substantially in such form, all as shall be determined by resolution of the board. Such bonds shall mature in annual installments beginning not more than four (4) years from date thereof and extending not more than thirty (30) years from date thereof. In no event shall any bonds be issued for a period of time which shall be longer than ninety percent (90%) of the expected useful life of the project or projects to be financed by the proceeds of said bonds. Such bonds shall be signed by the governor or by his facsimile signature, and the official seal of the state shall be affixed thereto, attested by the secretary of state. The interest coupons to be attached to such bonds may be executed by the facsimile signatures of said officers. Whenever any such bonds shall have been signed by the officials herein designated to sign the bonds who were in office at the time of such signing but who may have ceased to be such officers prior to the sale and delivery of such bonds, or who may not have been in office on the date such bonds may bear, the signatures of such officers upon such bonds and coupons shall nevertheless be valid and sufficient for all purposes and have the same effect as if the person so officially signing such bonds had remained in office until the delivery of the same to the purchaser or had been in office on the date such bonds may bear.

Miss. Code Ann. § 59-17-37 State bonds; negotiability; exemption from taxation.

All bonds and interest coupons issued under the provisions of this chapter shall have and are hereby declared to have all the qualities and incidents of negotiable instruments under the Uniform Commercial Code of the State of Mississippi. Such bonds and income therefrom shall be exempt from all taxation within the State of Mississippi.

Miss. Code Ann. § 59-17-39 State bonds; proceedings for issuance; validation.

Such bonds as are issued under this chapter may be issued without any other proceedings or the happening of any other conditions or things than those proceedings, conditions, and things which are specified or required by this chapter. The bonds authorized under the authority of this chapter may, in the discretion of the state bond commission, be validated in the Chancery Court of Hinds County, Mississippi, in the manner and with the force and effect provided now or hereafter by Sections 31-13-1 through 31-13-11, Mississippi Code of 1971, for the validation of county, municipal, school district, and other bonds. The necessary papers for such validation proceedings shall be transmitted to the state bond attorney by the attorney general, and the required notice shall be published in a newspaper published in the City of Jackson, Mississippi, and in a newspaper of general circulation published in the city or county where the planned development is located.

Miss. Code Ann. § 59-17-41 State bonds; payment of principal and interest; limitation on amount issued.

The bonds issued under the provisions of this chapter shall be payable from the special fund provided therefor as hereinafter set out and shall be the general obligations of the State of Mississippi and backed by the full faith and credit of the state, and, if the funds supplied by the board to the State Treasurer from the sources prescribed by this chapter be insufficient to fully pay at maturity any installment of interest on said bonds or to pay at maturity the principal of said bonds, then the deficiency shall be paid by the State Treasurer from any funds in the State Treasury not otherwise appropriated, and all such bonds shall contain recitals on their face substantially covering the foregoing provisions of this section. The amount of bonds issued for the acquisition and planned development of any state inland ports, harbors or waterways shall not exceed the sum of One Million Five Hundred Thousand Dollars ($1,500,000.00). The purpose of this One Million Five Hundred Thousand Dollar ($1,500,000.00) bond issue is to purchase industrial sites and railroad right-of-way nearby the inland port. From and after July 1, 1980, and contingent upon the tax levy authorized in Section 59-17-19, an additional amount of bonds not to exceed Two Million Dollars ($2,000,000.00) may be issued pursuant to the provisions of this chapter. The proceeds of such bonds may be used for any activities associated with carrying out the powers described in Section 59-17-13.

Miss. Code Ann. § 59-17-43 State bonds; manner and price of sale.

The state bond commission shall sell such state bonds in such manner and for such price as it may determine to be for the best interest of the State of Mississippi, but no such sale shall be made at a price less than par plus accrued interest to date of delivery of the bonds to the purchaser. Notice of the sale of any such bonds shall be published at least one time not less than ten days prior to the date of sale and shall be so published in one or more newspapers published in Jackson, Mississippi, and having general circulation within the State of Mississippi, and in one or more other newspapers or financial journals as may be directed by the state bond commission.

Miss. Code Ann. § 59-17-45 State bonds; disposition of proceeds from sale.

The proceeds of such state bonds issued pursuant to this chapter shall be paid into a special fund or funds in banks qualified to act as depositories for the participating counties in which the port or harbor is located, allocated in such equitable manner as the board may determine and such depositories shall qualify as such by depositing bonds or other securities authorized by law to secure deposits in state depositories. The proceeds of such bonds shall be used solely for payment of the cost of the planned development and the redeeming of any outstanding bonds and shall be disbursed upon order of the board with such restrictions, if any, as the resolution authorizing the issuance of the bonds may provide. If the proceeds of such bonds, by error of calculation or otherwise, shall be less than the cost of the planned development, and the redeeming of any outstanding bonds, unless otherwise provided in the resolution authorizing the issuance of the bonds, additional bonds may in like manner be issued to provide the amount of such deficit which, unless otherwise provided in the resolution authorizing the issuance of bonds, shall be deemed to be of the same issue and shall be entitled to payment from the same fund without preference or priority of the bonds first issued for the same purpose. If the proceeds of the bonds of any issue shall exceed the amount required for the purpose for which the bonds were issued, the surplus shall be paid into the fund established for the payment of the principal of and the interest on such bonds.

Miss. Code Ann. § 59-17-47 Withdrawals from special fund for payment of bonds.

The funds which are transferred from the sale of bonds under this chapter to the special fund in the qualified depositories set up for each separate port, harbor, or part thereof, may be withdrawn only in the following manner: said funds shall be paid by such qualified depositories upon warrants issued by the state auditor of public accounts, which warrants shall be issued upon requisition of the board or state inland port authority. All expenditures ordered by the board or state inland port authority shall be entered upon their minutes, and the board and each state inland port authority shall submit a full report of their work and all the transactions carried on by them, and a complete statement of all their revenues and expenditures to the legislature at each regular session of the legislature.

Miss. Code Ann. § 59-17-49 Disposition of net revenues, rents, and earnings from port or harbor.

All net revenues, rents, and earnings from the operation or maintenance of any state-owned inland port or harbor, or any part thereof, shall be set aside by the board exclusively for the payment of any bonds issued by the state for such port or harbor, or any part thereof, and shall not be commingled with the funds of any other port or harbor, or any part thereof, but shall be expended by the board exclusively for the payment of such bonds as provided in Section 59-17-51, and, if no such bonds be outstanding, then by the state inland port authority for the improvement, operation, advancement, development, maintenance and advertising of the port to which such funds have accrued.

Miss. Code Ann. § 59-17-51 Pledge of revenues, rents and earnings to payment of bonds; sinking fund.

The net revenues, rents, and earnings derived from any planned development or the net revenues, rents, and earnings received by the board produced by a state inland port, harbor, or part thereof, for which bonds have been issued, shall be pledged and allocated by the board to the payment of the principal of and interest on the bonds issued for such planned development as the resolution authorizing the issuance of the bonds may provide, and such pledge may include funds received from one or more or all sources available to such planned development and shall be set aside at regular intervals into a sinking fund, which sinking fund shall be pledged to and charged with the payment of: The interest upon such bonds as such interest shall accrue. The principal of the bonds as the same shall become due. The necessary charges of the paying agent or paying agents for paying principal and interest of and on such bonds. Any premium on bonds retired by call or purchase as may be provided therein. Net revenues shall be defined in the agreement between the board and the participating counties, or other authorized agency. The use and disposition of such sinking fund shall be subject to such regulations as may be provided in the resolution authorizing any issue of bonds, but except as may otherwise be provided in such resolution, such sinking fund shall be a fund for the benefit of all bonds issued under such resolution, without distinction or priority of one over the other. Subject to the provisions of the resolution authorizing the issuance of the bonds, surplus moneys in the sinking fund may be applied to the purchase or redemption of any of such bonds, and any such bonds so purchased or redeemed shall forthwith be cancelled and shall not again be issued.

Miss. Code Ann. § 59-17-53 Refunding bonds.

The board is authorized to provide by resolution for the issuance of refunding bonds by the state bond commission for the purpose of refunding any bonds issued under the provisions of this chapter and then outstanding, together with interest thereon to the date of such refunding bonds, and redemption premium thereon, if any. The issuance of such refunding bonds, the maturity, and all other details thereof, the rights of the holders thereof and the duties of the board and state inland port authority in respect thereto shall be governed by the provisions of this chapter, insofar as the same may be applicable.

Miss. Code Ann. § 59-17-55 Bonds as legal investments and security for deposits.

All bonds issued under the provisions of this chapter shall be legal investments for trustees and other fiduciaries, and for savings banks, trust companies, the board of trustees of the public employees’ retirement system, and insurance companies organized under the laws of the State of Mississippi, and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and political subdivisions for the purpose of securing the deposit of public funds.

Miss. Code Ann. § 59-17-57 Representation of state bond commission by attorney general.

Except as otherwise authorized in Section 7-5-39, the Attorney General of the State of Mississippi shall represent the State Bond Commission in issuing, selling and validating bonds herein provided for, and the board is hereby authorized and empowered to expend any sum not exceeding Fifteen Thousand Dollars ($15,000.00) from the proceeds derived from the sale of any one (1) series of bonds authorized hereunder to pay for the cost of the approving attorney’s fees, validating, printing and cost of delivery of bonds authorized under this chapter.

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