2015 Mississippi Code
Title 57 - PLANNING, RESEARCH AND DEVELOPMENT
Chapter 10 - SMALL BUSINESS ASSISTANCE
Article 1 - MISSISSIPPI BUSINESS FINANCE CORPORATION
§ 57-10-25 - Funding of corporation; investments of corporation
It is the further intention of this article that the initial capital base of the corporation be raised from a combination of private foundation grants, any funds available from various federal programs, and such funds as may be appropriated by the state. Additional funding of the corporation may be derived from the sale of debenture bonds or long-term funding from the sale of the corporation's commercial paper and notes. Such additional funding and any guaranty executed by the corporation of any loan or investment, and any other obligations incurred by the corporation, shall be based solely on the credit of the corporation and shall not pledge or loan the credit of the state in aid of any person, association or corporation. Funds of the corporation shall be primarily invested in amortized loans of ten (10) years or shorter maturity. If feasible and possible, all loans extended by the corporation shall be made in participation with existing banks or other financial institutions.
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