MS SB3039

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 individuals, firms, and corporations.

Authority retains existing powers to acquire, own, develop, and manage industrial park complexes and economic development projects within Coahoma County, including construction of supporting infrastructure such as roads, utilities, and facilities.

Authority may execute leases with terms allowing lessees to meet expenditure obligations and employment payroll amounts in lieu of monetary rental, and may include preference in employment for qualified county residents.

Board of Supervisors may levy up to two mills on the dollar of assessed property valuation to support authority operations, with surplus funds accumulated in an economic development authority fund for industrial development, infrastructure improvements, and debt retirement.

Full faith and credit of Coahoma County pledges repayment of bonds issued for industrial development, with 80% of income from property sales or leases directed to bond retirement and 20% available for further development activities.