SB 3409

MISSISSIPPI LEGISLATURE
2026 Regular Session
To: Local and Private; Finance
By: Senator(s) Younger, Turner-Ford
Senate Bill 3409
AN ACT TO AUTHORIZE THE BOARD OF SUPERVISORS OF LOWNDES
COUNTY, MISSISSIPPI, TO ESTABLISH AN INDUSTRIAL ZONE EMERGENCY RESPONSE
DISTRICT; TO PROVIDE FOR THE APPOINTMENT OF COMMISSIONERS OF THE DISTRICT; TO
SPECIFY THE POWERS AND DUTIES OF THE DISTRICT; TO LEVY SPECIAL ASSESSMENTS
BASED ON THE VALUE OF PROPERTY AND ON THE NUMBER OF EMPLOYEES MAINTAINED BY
INDUSTRIAL TAXPAYERS WITHIN THE DISTRICT FOR THE PURPOSE OF PROVIDING ADEQUATE
FUNDING FOR THE DISTRICT; TO EXEMPT THE PROPERTY AND REVENUE OF THE DISTRICT
FROM ALL STATE, COUNTY AND MUNICIPAL TAXES; TO PROVIDE FOR ANNEXATIONS TO THE
DISTRICT; TO AUTHORIZE THE DISTRICT TO ISSUE BONDS OR OTHER DEBT OBLIGATIONS;
TO PROVIDE FOR DISSOLUTION OF THE DISTRICT; AND FOR RELATED PURPOSES.
���� BE IT ENACTED BY THE LEGISLATURE
OF THE STATE OF MISSISSIPPI:
���� SECTION 1.� Definitions.�
As used in this act the following words and terms shall mean the following:
��������� (a)� "Annual
employment" means, with respect to any taxpayer, the average annual number
of individuals employed by the taxpayer as calculated and certified to the
Lowndes County Industrial Development Authority (LCIDA) in accordance with
Section 14 of this act.
��������� (b)� "County"
means Lowndes County, Mississippi.
��������� (c)� "County
board" means the board of supervisors of the county.
��������� (d)�
"District" means any industrial zone emergency response district
created pursuant to this act.
��������� (e)� "LCIDA"
means the Lowndes County Industrial Development Authority.
��������� (f)�
"Participation factor" means the product derived by multiplying �a
taxpayer's� annual� employment� times the total assessed value of real property
and improvements thereon of such taxpayer on its real property located within
the proposed district determined and certified by the LCIDA to the county board
in accordance with Section 14 of this act.
��������� (g)�
"Taxpayer" means any industrial enterprise operating a business or
industry within the district established by this act that owns, leases or
subleases real property classified on the county's tax rolls as industrial use
within such district, and which is subject to any annual ad valorem taxation
and/or any fee in lieu of ad valorem taxation in the county.
���� SECTION 2.� Resolution
of intention to create a district.� (1)� The county board, in its
discretion, may initiate the formation of an industrial zone emergency response
district within any part of the county situated within three and one-half (3.5)
miles of any boundary of the Golden Triangle Regional Airport to provide fire
protection services, emergency medical care and other emergency response
services to the taxpayers located within the boundaries of the district, by
adopting a resolution of intent of the county board to create the district and
upon presentation of a petition signed by those taxpayers in the area to comprise
the boundaries of the district whose collective participation factors
collectively comprise eighty percent (80%) or more of the total participation
factors for all taxpayers situated within such area, as determined and
certified by the LCIDA pursuant to Section 14 of this act.
���� (2)� Such resolution of the
county board shall include the following:
��������� (a)� A statement of the
necessity for the fire protection services, emergency medical care and other
emergency response services to be supplied by the proposed district;
��������� (b)� The proposed name
for the district;
��������� (c)� The proposed
boundaries of the district;
��������� (d)� An estimate of the
cost of construction or acquisition of any land, facilities, equipment and
other assets to be operated by the district, which estimate, however, shall not
serve as a limitation upon the costs of the construction or acquisition of any
such facilities, equipment and other assets;
��������� (e)� A description and
estimate of the value of any land, facilities, equipment or other assets which
any taxpayer has agreed to donate to the new district following the creation
thereof;
��������� (f)� A statement of
whether or not the county shall exercise the authority to levy the special
taxes and assessments authorized by Section 17 of this act;
��������� (g)� The beginning and
ending of the district's fiscal year; and
��������� (h)� The date of a
public hearing to be conducted by the board on the matter.�
���� A copy of the petition
signed by the above-stated number of taxpayers with the requisite participation
factors in the area to comprise the boundaries of the district shall be
attached to the resolution and included in the minutes of the meeting of the
county board during which the resolution is adopted.
���� SECTION 3.� Publication
of resolution.� A certified copy of the resolution of intent so adopted
shall be published in a newspaper having a general circulation within the
proposed district once a week for at least three (3) consecutive weeks prior to
the date specified in such resolution as the date upon which the board will
conduct a public hearing on the creation of the district.� The first such
publication shall be made not less than twenty-one (21) days prior to the
hearing date specified, and the last publication shall be made not more than
fourteen (14) days prior to such date.
���� SECTION 4.� Public
hearing; resolution of creation.� Following the public hearing on the
creation of the proposed district, and the consideration by the county board of
any public comments made during such hearing, the county board, upon a
determination thereof (a) that the creation of the district is in the best
interests of the area that will comprise the district and the county, (b) the
specific area that will comprise the boundaries of the district, and (c) the
taxpayers situated therein, the county board may adopt a resolution creating
the district as described in the resolution of intent.� The district created in
accordance with this act shall constitute a political subdivision of the county
and the exercise by the district of its powers granted by this act constitutes
a proper governmental function.
���� SECTION 5.� Appeals.�
Any party having an interest in the subject matter and aggrieved or prejudiced
by the findings and adjudication of the county board may appeal to the circuit
court of the county in the manner provided by law for appeals from orders of
the county board.� However, if no such appeal be taken within a period of ten
(10) days from and after the date of the adoption by the county board of the
resolution creating the district, the creation of the district shall be final
and conclusive and shall not thereafter be subject to challenge in any court.
���� SECTION 6.� Board
of commissioners; appointment; terms; general powers and duties.� (1)�
During the two-year period following the creation of the district, except as
otherwise provided in this section, the powers of each district shall be vested
in and exercised by a board of commissioners consisting of seven (7) members to
be appointed as follows:
��������� (a)� An individual
resident of the county appointed by the LCIDA;
��������� (b)� Three (3)
employees, whose principal place of employment is in the county, of Steel
Dynamics, Inc., or an affiliate thereof, including, but not limited to, Steel
Dynamics Columbus, LLC, Aluminum Dynamics, LLC, or SDI Biocarbon Solutions,
LLC, appointed by Steel Dynamics, Inc.;
��������� (c)� Either (i) an
employee, whose principal place of employment is in the county, of Paccar,
Inc., or an affiliate thereof appointed by Paccar, Inc.; or (ii) if Paccar,
Inc., does not appoint an employee to serve as a commissioner, an employee,
whose principal place of employment is in the county, of any other taxpayer or
an affiliate thereof designated by the county board appointed by such
designated taxpayer;
��������� (d)� Either (i) an
employee, whose principal place of employment is in the county, of Airbus
Helicopters, Inc., or an affiliate thereof appointed by Airbus Helicopters,
Inc.; or (ii) if Airbus Helicopters, Inc., does not appoint an employee to
serve as a commissioner, an employee, whose principal place of employment is in
the county, of any other taxpayer or an affiliate thereof designated by the
county board appointed by such designated taxpayer; and
��������� (e)� An employee, whose
principal place of employment is in the county, of any other taxpayer or an
affiliate thereof designated by the county board appointed by such designated
taxpayer.
���� (2)� After the initial two-year
period specified in subsection (1) of this section, except as otherwise
provided in this section, the powers of each district shall be vested in and
exercised by a board of commissioners consisting of seven (7) members to be
appointed as follows:
��������� (a)� An individual
resident of the county appointed by the LCIDA;
��������� (b)� An employee, whose
principal place of employment is in the county of the taxpayer with the fifth-greatest
participation factor for the prior calendar year or an affiliate thereof
appointed by such taxpayer;
��������� (c)� An employee, whose
principal place of employment is in the county, of the taxpayer with the fourth-greatest
participation factor for the prior calendar year or an affiliate thereof
appointed by such taxpayer;
��������� (d)� An employee, whose
principal place of employment is in the county, of the taxpayer with the third-greatest
participation factor for the prior calendar year or an affiliate thereof
appointed by such taxpayer;
��������� (e)� An employee, whose
principal place of employment is in the county, of the taxpayer with the second-greatest
participation factor for the prior calendar year or an affiliate thereof
appointed by such taxpayer;
��������� (f)� An employee, whose
principal place of employment is in the county, of the taxpayer with the
greatest participation factor for the prior calendar year or an affiliate
thereof appointed by such taxpayer; and
��������� (g)� An employee, whose
principal place of employment is in the county, of any other taxpayer
designated by the county board or an affiliate thereof and appointed by such
designated taxpayer; provided that, to the extent that Steel Dynamics, Inc., or
an affiliate thereof, including, but not limited to, Steel Dynamics Columbus,
LLC, Aluminum Dynamics, LLC, or SDI Biocarbon Solutions, LLC, donates to the
district Eight Million Dollars ($8,000,000.00) or more in value of land,
facilities, and equipment or the funds sufficient for the district to acquire
such facilities and equipment, in either instance, for the establishment of the
district's operations, the individual appointed to the board of commissioners
pursuant to this paragraph (g) shall be an individual appointed by Steel
Dynamics, Inc., or an affiliate thereof, including, but not limited to, Steel
Dynamics Columbus, LLC, Aluminum Dynamics, LLC, or SDI Biocarbon Solutions,
LLC, appointed by Steel Dynamics, Inc.
���� (3)� As each such
appointment is made by the LCIDA and each of the taxpayers specified in
subsections (1) and (2) of this section, each of the LCIDA and each such
taxpayer shall provide written notice to the county board of its appointment
made in accordance herewith and the county board shall record such appointment
in the minutes of a public meeting thereof.� For purposes of appointment made
pursuant to subsection (2) of this section, no taxpayer shall be permitted to
appoint a commissioner until after such taxpayer's annual employment data has
been reported to the LCIDA in accordance with this act and the LCIDA has
calculated such taxpayer's participation factor and certified such calculation
to the county board.
���� (4)� Upon their initial
appointment made pursuant to subsection (2) of this section, the commissioner
appointed pursuant to subsection (2)(a) of this section shall be appointed for
a term of one (1) year; the commissioner appointed pursuant to subsection
(2)(b) of this section shall be appointed for a term of one (1) year; the
commissioner appointed pursuant to subsection (2)(c) of this section shall be
appointed for a term of two (2) years; the commissioner appointed pursuant to
subsection (2)(d) of this section shall be appointed for a term of three (3)
years; the commissioner appointed pursuant to subsection (2)(e) of this section
shall be appointed for a term of four (4) years; the commissioner appointed
pursuant to subsection (2)(f) of this section shall be appointed for a term of
five (5) years; and the commissioner appointed pursuant to subsection (2)(g) of
this section shall be appointed for a term of six (6) years; and thereafter,
each commissioner shall be appointed and shall hold office for a term of six
(6) years unless otherwise replaced in accordance with this section.� Any
vacancy occurring on a board of commissioners shall be filled by the LCIDA or
taxpayer, as applicable, eligible to make such appointment in accordance with
this section.� The LCIDA or taxpayer, as applicable, may also replace any
commissioner previously appointed thereby at any time by giving written notice
of any such replacement to the county board.
���� SECTION 7.� Board
of commissioners; officers; seal.� The board of commissioners shall
organize by electing one (1) of its members as chairman and another as vice chairman.�
It shall be the duty of the chairman to preside at all meetings of the board of
commissioners and to act as the chief executive officer of the board of
commissioners and of the district.� The vice chairman shall act in the absence
or disability of the chairman.� The board of commissioners may appoint and fix
the compensation of a secretary-treasurer who may or may not be a member of the
board of commissioners.� If so appointed, it shall be the duty of the secretary-treasurer
to keep all minutes and records of the board and to safely keep all funds of
the district.� If so appointed, the secretary-treasurer, if he or she is not
also a commissioner, shall also be required to execute a bond, payable to the
district, in a sum and with such security as shall be fixed and approved by the
board of commissioners.� The terms of all officers of the board of
commissioners shall be for one (1) year from and after the date of election.
���� The board of commissioners
shall adopt an official seal with which to attest the official acts and records
of the board of commissioners and district.
���� SECTION 8.� Board
of commissioners; eligibility; bond; oath; compensation.� (1)� Any
commissioner appointed by the LCIDA shall be a resident citizen of the county
of good reputation, over twenty-five (25) years of age and of sound mind and
judgment.
���� (2)� Any commissioner
appointed by a taxpayer pursuant to
this act shall be a resident
citizen of the State of Mississippi of good reputation, over twenty-five (25)
years of age and of sound mind and judgment.
���� (3)� Each individual
appointed or elected as a commissioner, before entering upon the discharge of
the duties of the individual's office, shall be required to execute a bond
payable to the State of Mississippi in the penal sum of not less than Fifty
Thousand Dollars ($50,000.00), conditioned that the individual will faithfully
discharge the duties of the office.� Each bond shall be approved by the clerk
of the county board of supervisors and filed with such clerk.
���� (4)� Each commissioner shall
take and subscribe to an oath of office prescribed in Section 268, Mississippi
Constitution of 1890, before the clerk of the county board that the individual
will faithfully discharge the duties of the office of commissioner, which oath
shall also be filed with such clerk and preserved with the official bond.
���� (5)� The commissioners so
appointed or elected and qualified shall not be compensated for their services
but shall be reimbursed for all expenses necessarily incurred in the discharge
of their official duties in accordance with Section 25-3-41, Mississippi Code
of 1972; provided, however, if a commissioner is appointed by the board of
commissioners to serve as secretary-treasurer, the board of commissioners may
fix the compensation for such services as secretary-treasurer in accordance
with Section 7 of this act.
���� SECTION 9.� General
powers of district.� The district created under this act shall have the
powers enumerated in the resolution of the county board creating the district
but shall be limited to the conducting and operating of a fire protection
system, emergency response system and emergency medical services; and to carry
out such purpose or purposes, such districts shall have the power and authority
to acquire, by purchase, gift or other means, construct, reconstruct, improve,
better, extend, consolidate, maintain and operate such system or systems, and
to contract with any governmental agency or authority, any person or any for-profit
or nonprofit business enterprise or association for services required incident
to the operation and maintenance of such systems.� Any district created
pursuant to this act shall be vested with all the powers necessary and
requisite for the accomplishment of the purposes for which the district is
created. �No enumeration of powers herein shall be construed to impair or limit
any general grant of powers herein contained nor to limit any such grant to a
power or powers of the same class or classes as those enumerated.� The district
is empowered to do all acts necessary, proper or convenient in the exercise of
the powers� granted under this act.
���� SECTION 10.� Additional
powers of the district.� (1)� A district created under this act, acting by
and through the board of commissioners of the district as its governing
authority, shall have the following, among other, powers:
��������� (a)� To sue and be
sued;
��������� (b)� To acquire by
purchase, gift, devise and lease or any other mode of acquisition, other than
by eminent domain, hold and dispose of real and personal property of every kind
within or without the district, including, but not limited to, emergency
response rolling stock such as fire trucks, rescue trucks and ambulances;
��������� (c)� To make and enter
into contracts, conveyances, mortgages, deeds of trust, bonds, leases or
contracts as necessary, proper or convenient for the district to exercise its
powers granted under this act;
��������� (d)� To employee staff,
including, but not limited to, firefighters, paramedics and emergency
management technicians, subject to compliance with Section 41-59-1 et seq.,
Mississippi Code of 1972, as amended, and any other applicable laws, and/or to
contract for employees or other personnel with one or more other public or
private organizations as the board of commissioners of the district, in any such
instance, shall deem reasonably necessary to carry out its duties and powers
authorized by this act;
��������� (e)� To contract for
professional services such as engineers, attorneys, accountants, auditors,
consultants and such other professionals as the board of commissioners of the
district, in any such instance, shall deem reasonably necessary to carry out
its duties and powers authorized by this act;
��������� (f)� To incur debts, to
borrow money, to issue� negotiable bonds, and to provide for the rights of the
holders thereof, as set forth in this act;
��������� (g)� To pledge all or
any part of its revenues to the payment of its obligations;
��������� (h)� To make such
covenants in connection with the issuance of bonds or other debt obligations or
to secure the payment of bonds or other debt obligations that a private
business corporation can make under the general laws of the state;
��������� (i)� To enter into
agreements with state and federal agencies for loans, grants, grants-in-aid,
and other forms of assistance, including, but not limited to, participation in
the sale and purchase of bonds or other debt obligations; and
��������� (j)� To be deemed to
have the same status as counties and municipalities with respect to payment of
sales taxes on purchases made by the district.
���� (2)� The enumeration of any
specific rights and powers contained herein, and elsewhere in this act, where
followed by general powers, shall not be construed in a restrictive sense, but
rather in as broad and comprehensive a sense as possible to effectuate the
purposes of this act.
���� SECTION 11.� Districts;
power to receive and expend funds.� A district authorized under this act is
empowered to receive funds from all sources, public or private, and is
authorized to expend such funds as may be available for any necessary, proper
or convenient purpose in the exercise by the district of the powers granted
under this act.� The county board may also, in its discretion, set aside,
appropriate and expend monies from any source available thereto, including, but
not limited to, the general fund of the county, to be used for the necessary
and proper support and operations of the district.
���� SECTION 12.� Exemption
from taxation.� The property and revenue of a district shall be exempt from
all state, county and municipal taxation.� Any bonds or other instruments of
indebtedness issued pursuant to this act and the income therefrom shall be
exempt from all state, county and municipal taxation, except inheritance,
transfer and estate taxes, and it may be so stated on the face of such bonds or
other instruments.
���� SECTION 13.� Annexations
to district.� Any parcel of real property located within three and one-half
(3.5) miles of any boundary of the Golden Triangle Regional Airport or which is
otherwise contiguous with any parcel that is part of the district created
pursuant to this act, and in either instance which is situated entirely within
the county and not within the corporate boundaries of any existing
municipality, may be annexed to and become a part of the district by either (a)
the consent of the person or entity that owns such parcel of real property or
(b) by the same procedure prescribed in Section 2 of this act for the original
creation of the district; provided that any public road rights-of-way or any
other publicly owned property may be disregarded in determining whether such
additional area is located within such three and one-half (3.5) mile radius.�
Any costs incident to the publication of notice and all other costs incident to
the hearings, election and proceedings shall be paid by the county.
���� SECTION 14.� Determination
of taxpayers, annual employment data and participation factors.� (1)� (a)�
At any time prior to the creation of the district, upon written request
therefor by the county board or the LCIDA, the county tax assessor shall
additionally certify to the county board and the LCIDA (i) the name and address
of each taxpayer in the area proposed by the county board or the LCIDA to
comprise the boundaries of the district, and (ii) the most recently assessed
value of real property located within the proposed district area for each such
taxpayer.
��������� (b)� Following the
creation of the district, the county tax assessor shall annually certify to the
county board and the LCIDA (i) the name and address of each taxpayer in the
district, and (ii) the assessed value of real property and all improvements
thereon located within the proposed district for each such taxpayer for the
then-current year.� Each annual certification of taxpayer data shall be
remitted to the county board and the LCIDA by the county tax assessor no later
than August 15 of each year, or otherwise on or before such earlier date as
necessary for the county board to timely levy the taxes and special assessments
authorized by Sections 16 and 17 of this act.
���� (2)� (a)� At any time prior
to the creation of the district, upon written request therefor by the county
board or the LCIDA, each taxpayer in the area proposed by the county board or
the LCIDA to comprise the boundaries of the district shall certify to the LCIDA
on the form provided thereby, within thirty (30) days following receipt of such
written request, the average number of individuals employed by the taxpayer
during the prior twelve-month period specified in such request calculated by
totaling the number of individuals employed by the taxpayer each month during
such prior twelve-month period, as reported thereby to the Mississippi
Department of Employment Security for each such month, divided by the number of
months in such twelve-month period that the taxpayer reported its employment of
any individuals to the Mississippi Department of Employment Security.
��������� (b)� Following the
creation of the district, each taxpayer in the district shall, no later than
August 1 of each year, annually certify to the LCIDA on the form provided
thereby the average number of individuals employed by the taxpayer during the
twelve-month period ending on June 30 of each year, calculated by totaling the
number of individuals employed by the taxpayer each month during such twelve-month
period, as reported thereby to the Mississippi Department of Employment
Security for each such month, divided by the number of months in such twelve-month
period that the taxpayer reported its employment of any individuals to the
Mississippi Department of Employment Security.
���� (3)� (a)� Prior to the
creation of the district, following
receipt by the LCIDA of (i) the
information certified and provided by the county tax assessor pursuant to
subsection (1)(a) of this section, and (ii) the information certified and provided
by each taxpayer in the area proposed by the county board or the LCIDA to
comprise the boundaries of the district pursuant to subsection (2)(a) of this
section, the LCIDA shall mathematically determine each such taxpayer's
participation factor and shall certify the same to the county board.
��������� (b)� Following the
creation of the district, the LCIDA shall, no later than August 30 of each
year, following receipt by the LCIDA of (i) the information certified and
provided by the county tax assessor pursuant to subsection (1)(b) of this
section, and (ii) the information certified and provided by each taxpayer in
the area proposed by the county board or the LCIDA to comprise the boundaries
of the district pursuant to subsection (2)(b) of this section, the LCIDA shall
mathematically determine each such taxpayer's participation factor and shall
certify the same to the county board.
���� SECTION 15.� Preparation
of budget by the board of commissioners.� (1)� On or before August 1 of
each year, the board of commissioners of the district shall prepare and file
with the LCIDA and the county board the district's budget of (a) estimated
expenditures for the support, maintenance and operation of the district for the
upcoming fiscal year commencing on the date prescribed in the resolution of
intent the board to create the district, including, but not limited to,
expenditures for the repayment of indebtedness and interest thereon incurred by
the district pursuant to this act, and (b) funding of a reserve account to
provide sufficient funds to repair, refurbish and replace facilities and
equipment.� Such budget shall be prepared on forms prescribed and provided by
the county board and shall contain such information as the county board may
require.
���� (2)� Prior to the adoption
of a budget pursuant to this section, the board of commissioners of the
district shall hold at least one (1) public hearing to provide the taxpayers
located within the district with an opportunity to comment on the spending plan
incorporated in the proposed budget.� The public hearing shall be held at least
one (1) week prior to the adoption of the budget with advance notice.� After
final adoption of the budget, a synopsis of such budget in a form prescribed by
the county board shall be published in a newspaper having general circulation
in the district.
���� (3)� If it should appear to
the board of commissioners of the district that the amounts to be received from
the special tax and assessments levied by the county board pursuant to Section
17 of this act or any other source will be more than the amount estimated in
the budget filed and approved, or if it should appear that such amounts shall
be less than the amount estimated, the board of commissioners of a district may
revise the budget at any time during the district's fiscal year by increasing
or decreasing the fund budget, in proportion to the increase or decrease in the
estimated amounts.� If it should appear to the board of commissioners of the
district that some function of the budget as filed is in excess of the
requirement of that function and that the entire amount budgeted for such
function will not be needed for expenditures therefor during the district's
fiscal year, the board of commissioners of a district may transfer resources to
and from functions and funds within the budget when and where needed; however,
no such transfer shall be made for a purpose which is not authorized by law.�
No revision of any budget under the provisions hereof shall be made which will
permit a fund expenditure in excess of the resources available for such
purpose.� The revised portions of the budgets shall be incorporated in the
minutes of the board of commissioners of the district by spreading them on the
meeting minutes thereof or by attaching them as an addendum to such minutes.
���� (4)� Any year-over-year
increase in the annual budget of the district adopted by the board of
commissioners pursuant to subsection (1) of this section shall be subject to
the following voting requirements:
��������� (a)� Any annual budget
increase of four percent (4%) or less shall require the approval of more than
fifty percent (50%) of those commissioners present and voting on the budget;
��������� (b)� Any annual budget
increase of more than four percent (4%) but not more than seven percent (7%)
shall require the approval of no fewer than five (5) commissioners;
��������� (c)� Any annual budget
increase of more than seven
percent (7%) but not more than
ten percent (10%) shall require the approval of no fewer than six (6)
commissioners; and
��������� (d)� Any annual budget
increase of more than ten percent (10%) shall require the approval of all of
the commissioners.
���� SECTION 16.� Calculation
of special tax levy and assessments.� The board of commissioners of the
district shall annually submit to the county board a certified copy of an order
adopted by the board of commissioners of a district requesting an ad valorem
tax levy and special assessment levy in dollars for the support of the
district.� The copy of the order shall be submitted by the board of
commissioners of the district at the same time the district's budget is
submitted to the county board pursuant to Section 15 of this act.� Upon receipt
of the order of the board of commissioners requesting the ad valorem tax and
special assessment levy in dollars, (a) the county shall determine, based on
the assessed value of real property and improvements thereon located within the
proposed district for each taxpayer therein (as certified by the county tax
assessor pursuant to Section 14 of this act), the millage rate applicable to the
assessed values of real property and improvements thereon located within the
district necessary to generate funds equal one-half (1/2) of the dollar amount
requested by the board of commissioners; and (b) based on the annual employment
data for each taxpayer in the district, as certified and submitted to the
county board by the LCIDA pursuant to Section 14 of this act, the per-employee
special assessment applicable to and payable by each taxpayer calculated on its
reported annual average employment necessary to generate funds equal to the
remaining one-half (1/2) of the dollar amount requested by the board of
commissioners.
���� SECTION 17.� Ad
valorem tax levies and special assessments.� The county board shall
annually, by a resolution spread upon the meeting minutes thereof, levy (a) the
special ad valorem tax calculated pursuant to Section 16 of this act on all of
the real property and improvements in the district, and (b) the per-employee special
assessment calculated pursuant to Section 14 of this act applicable to payable
by each taxpayer calculated on its reported annual average employment, the
aggregate avails of which shall be paid over to the board of commissioners of
the district to be used either for the operation, support and maintenance of
the district, for the retirement of any bonds issued or other indebtedness
incurred by the district, or for both.� The per-employee special assessment
shall be levied by the county board at the same time as the special ad valorem
tax on all of the real property and improvements in the district, and the
payment of special ad valorem tax and the per-employee special assessment by
each taxpayer shall be due at the same as the payment of ordinary county ad
valorem taxes in the county.
���� All federal, state or local
governmental entities, including, but not limited to, the county, the LCIDA and
any other political subdivision of the federal government or of any state or
local government shall be exempt from any special ad valorem tax or per-employee
special levy authorized by this act notwithstanding the fact that any property
owned, leased or otherwise occupied thereby is located within the district.�
Any real property parcels located within the district and classified by the
county tax assessor on the county tax rolls as any use other than industrial
use, and the owner, lessor or occupant thereof, shall also be exempt from any
special ad valorem tax or per-employee special levy authorized by this act notwithstanding
the fact that such property is located within the district.� If any such parcel
that is exempt from any special ad valorem tax or per-employee special levy
authorized by this act cease to be owned, leased or otherwise occupied by an
exempt governmental entity or political subdivision thereof, or if such parcel
is reclassified by the county tax assessor as industrial use, such parcel shall
become subject to the special ad valorem tax and, if applicable, the per-employee
special levy authorized by this act.
���� SECTION 18.� Issuance
of bonds or other debt obligations for certain facilities and equipment.�
The board of commissioners may, in its discretion, by the concurrence of two-thirds
(2/3) of its authorized members present and voting and for good cause shown
therefor, to be spread upon its minutes by way of its resolution or order, and
with the consent of the county board evidenced by the adoption of a resolution
thereby spread upon its minutes, issue bonds or incur other debt obligations to
provide funds for the construction, installation and/or repair of real property
improvements and fixtures and/or the acquisition or repair of rolling stock
(e.g., fire trucks and emergency response vehicles) and/or any other equipment
or other personal property required or incidental to the exercise by the
district of its authority as provided in this act.
���� Such bond or other debt
obligations may be repaid from the general fund of the district, whether the
same shall have been derived from ad valorem tax receipts and/or other
anticipated revenues from any sources, including, but not limited to, the per-employee
special assessment authorized by this act, and may be further secured by a
pledge of the avails of such levies.� Such bonds or other debt obligations
shall bear such date or dates, mature at such time or times, not exceeding
twenty (20) years from their respective dates, be in such denomination, be in
such form, either coupon or registered, carry such registration privileges, be
executed in such a manner, be payable in such medium of payment, at such place
or places, and be subject to such terms of prior redemption, with or without
premium, as such resolution or resolutions of the requisite number of members
of the board of commissioners may provide, and subject to the further approval
of the county board, evidenced by a duly adopted resolution thereof spread upon
its minutes.� Such bonds or other debt instruments shall not bear a greater
overall maximum interest rate to maturity than that allowed in Section 75-17-103,
Mississippi Code of 1972.� All interest accruing on such bonds or other debt
instruments so issued shall be payable monthly, semiannually or annually, as
determined by the board of commissioners, except that the first interest coupon
attached to any such bond or debt instrument may be for any period not exceeding
one (1) year.
���� Such bonds or other debt
obligations shall be executed by the manual or facsimile signatures of the
chairman of the board of commissioners and either the vice chairman or secretary-treasurer
of the board of commissioners, with the seal of the district affixed thereto.�
The coupons, if any, may bear only the facsimile signatures of the chairman and
vice chairman or secretary-treasurer.
���� Such bonds or other debt
obligations may be sold at public or private sale for such price or prices as
the board of commissioners shall determine.
���� The books of account and
other sources of information pertaining to duties under this act shall be and
shall remain at all times open to inspection and subject to audit by the holder
or holders of any bonds or other obligations issued pursuant to this act.
���� SECTION 19.� Borrowing
in anticipation of ad valorem taxes and/or other anticipated revenues from
local sources.� The board of commissioners of the district shall have the
power and authority to borrow money for the current expenses of the district in
anticipation of the ad valorem taxes and/or other anticipated revenues from any
sources, including, but not limited to, the per employee special assessment
authorized by this act, to be collected for the then-current fiscal year of the
district.� The board of commissioners may borrow such money, as hereinbefore
provided, from any available fund in the county treasury, subject to the
approval of such loan by the county board by resolution spread upon the minutes
thereof, or in the alternative, the board of commissioners may borrow such
money, as hereinbefore provided, from any other source, and such loan shall be
repaid in the manner herein provided.� The money so borrowed shall bear
interest at a rate not greater than that allowed in Section 75-17-105,
Mississippi Code of 1972, and shall be repaid not later than the following
April 1, out of the first monies collected by reason of the special ad valorem
tax and special assessment levy in anticipation of which such money is
borrowed, and such money shall be used for no other purpose than the payment of
the current expenses of such district.� The amount borrowed under this section
shall in no event exceed fifty percent (50%) of the anticipated, but then
uncollected, revenue to be produced by the then-current special ad valorem tax
and special assessment levy, or levies, against which such money is borrowed.�
In borrowing money under the provisions hereof, it shall not be necessary to
publish notice of intention so to do or to secure the consent of any
taxpayers.� Such borrowing may be authorized by resolution of the board of
commissioners and may be evidenced by a negotiable note, or notes, signed and
executed in such form as may be prescribed in such resolution.� Money may be
borrowed in anticipation of the ad valorem taxes and/or other anticipated
revenues from local sources, including, but not limited to, the per-employee
special assessment authorized by this act, regardless of whether or not such
borrowing shall create an indebtedness in excess of any statutory limitations.
���� Money may likewise be
borrowed by the board of commissioners, as herein provided, for the purpose of
paying current interest� maturities on any indebtedness of the district in
anticipation of the collection of special ad valorem taxes and/or other
anticipated revenues from local sources for the retirement of such indebtedness
and the payment of any interest thereon.
���� SECTION 20.� Issuance
of promissory notes in event of shortfall in special tax levy and/or special
assessment.� During any fiscal year of the district, if the actual amount
of the ad valorem taxes or other anticipated revenue from local sources,
including, but not limited to, the per employee special assessment authorized
by this act, to be collected is less than the amount estimated at the time of
formulation of the district's budget for the fiscal year due to circumstances
which were unanticipated at the time of formulation of the budget and the levy
of the special tax and assessment, and which will prevent the district from
meeting its financial obligations may, the district may issue promissory notes
in an amount equal to the estimated shortfall of ad valorem taxes and/or other
revenues from local sources but in no event to exceed twenty-five percent (25%)
of its budget anticipated to be funded from the sources of the shortfall for
the fiscal year.
���� The proceeds of such notes
shall be used in the budget or budgets in which the shortfall occurred and
shall be used solely to offset the shortfall in such budgets for the fiscal
year.� The rate of interest paid thereon shall not exceed that amount set forth
in Section 75-17-105, Mississippi Code of 1972.� The indebtedness shall be
repaid in full, including interest thereon, in equal installments, during the
three (3) fiscal years next succeeding the fiscal year in which the notes were
issued.� For the payment of such indebtedness during each of the three (3)
fiscal years, the county board shall, at any meeting at which ad valorem taxes
are lawfully levied thereby, levy (a) a special ad valorem tax calculated
pursuant to Section 16 of this act on all of the real property and improvements
in the district in an amount sufficient to pay one-half (1/2) of the
outstanding indebtedness, including interest, in such fiscal year, and (b) a
per-employee special assessment calculated pursuant to Section 16 of this act
applicable to and payable by each taxpayer calculated on its reported annual
average employment sufficient to pay the remaining one-half (1/2) of the
outstanding indebtedness, including interest, in such fiscal year.
���� SECTION 21.� Dissolution
of district.� Following the creation of the district, the district may be
dissolved effective at the end of any fiscal year thereof by (a) the
concurrence of at least six (6) or more of the commissioners, as evidenced by a
duly adopted resolution thereof spread upon its minutes, and (b) the
concurrence by the county board, as evidenced by a duly adopted resolution
thereof spread upon its minutes.� Upon or prior to any such dissolution, the
board of commissioners shall be responsible for disposition of all of the
assets of the district, which may be disposed of in any manner authorized by
law; provided, however, that the district may convey at no cost to the county
or any other political subdivision thereof, any or all of the assets of the�
district to the county or any other political subdivision thereof.� Any funds
of the district remaining in any account thereof upon the final dissolution of
the district shall be remitted and transferred to the general fund of the
county.� Notwithstanding the foregoing, in the event that the board of
commissioners or a sufficient quorum thereof is unable or unwilling to perform
its dissolution obligations set forth in this section, the county board shall
be authorized, upon making such finding in a resolution spread upon its
minutes, to carry out such dissolution obligations on behalf of the district.
���� SECTION 22.� Supplemental
powers.� The powers conferred by this act shall be in addition and
supplemental to the powers conferred by any other law.
���� SECTION 23.� This act
shall take effect and be in force from and after its passage.