MS HB1752

Amends Chapter 862, Local and Private Laws of 1981 to clarify that the Economic Development Authority of Coahoma County may sell, lease, trade, exchange or otherwise dispose of industrial sites to governmental entities and political subdivisions, in addition to private individuals, firms and corporations.

Authorizes the authority to acquire, develop, and operate industrial park complexes and economic development projects within Coahoma County, including construction of streets, roads, utilities, warehouses, and other facilities necessary for industrial development.

Permits the authority to borrow money and issue negotiable promissory notes secured by deeds of trust, with the Board of Supervisors authorized to issue county bonds up to $5,000,000 for land acquisition and improvements.

Allows the Board of Supervisors to levy an ad valorem tax not exceeding two mills per dollar of assessed valuation to support the authority's operations and development activities, with surplus funds accumulated in an "economic development authority fund."

Provides that property owned by the authority is exempt from state taxation and bonds issued are legal investments for trustees, fiduciaries, and financial institutions in Mississippi.