MS HB885

Brings forward Section 19-5-99, Mississippi Code of 1972, which authorizes county boards of supervisors to establish economic development districts within their counties or in cooperation with other counties, municipalities, or private economic development groups.

Authorizes economic development districts to acquire, develop, and operate industrial parks and related facilities including streets, roads, railroads, utilities, warehouses, and transportation terminals within their jurisdiction.

Empowers districts to issue bonds secured by the full faith and credit of the county for industrial development projects, with income from property sales or leases applied to bond retirement, further development, or the county general fund.

Grants districts authority to sell, lease, or exchange industrial sites; sue and be sued; employ professional staff; fix fees for utility services; and contribute funds to industrial development foundations or private economic development groups.

Takes effect July 1, 2013.