Bill Text: MS HB1687 | 2010 | Regular Session | Enrolled

Mississippi House Bill 1687 (Prior Session Legislation)

Bill Title: Hinds County; may establish Hinds County Economic Development Authority and abolish Hinds County Economic Development district.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2010-05-21 - Approved by Governor [HB1687 Detail]

Download: Mississippi-2010-HB1687-Enrolled.html

MISSISSIPPI LEGISLATURE

2010 Regular Session

To: Local and Private Legislation

By: Representative Robinson

House Bill 1687

(As Sent to Governor)

AN ACT TO AUTHORIZE THE BOARD OF SUPERVISORS OF HINDS COUNTY, MISSISSIPPI, TO ESTABLISH AN ECONOMIC AND COMMUNITY DEVELOPMENT AUTHORITY TO BE KNOWN AS THE HINDS COUNTY ECONOMIC DEVELOPMENT AUTHORITY; TO PROVIDE FOR THE APPOINTMENT OF TRUSTEES OF THE AUTHORITY; TO PROVIDE THE POWERS AND DUTIES OF THE AUTHORITY; TO PROVIDE THAT THE AUTHORITY MAY BE AUTHORIZED BY THE BOARD OF SUPERVISORS TO PROVIDE CERTAIN ECONOMIC DEVELOPMENT, AND/OR COMMUNITY DEVELOPMENT FOR MUNICIPALITIES LOCATED IN HINDS COUNTY; TO PROVIDE THAT THE AUTHORITY MAY BE AUTHORIZED BY THE BOARD OF SUPERVISORS TO PROVIDE CERTAIN COMMUNITY DEVELOPMENT SERVICES IN THE COUNTY; TO AUTHORIZE THE BOARD OF SUPERVISORS OF HINDS COUNTY TO ISSUE BONDS FOR THE PURPOSE OF DEFRAYING THE COST OF ACQUIRING AND IMPROVING LAND AND BUILDINGS RELATED TO ECONOMIC DEVELOPMENT; TO AUTHORIZE THE BOARD OF SUPERVISORS TO DISSOLVE THE HINDS COUNTY ECONOMIC DEVELOPMENT DISTRICT; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. As used in this act:

(a) "Authority" means the economic and community development authority established under the provisions of this act.

(b) "Board of supervisors" means the Board of Supervisors of Hinds County, Mississippi.

(c) "Bonds" means debt obligations of the county issued under the provisions of this act, and shall include bonds, notes or other evidences of indebtedness authorized by the board of supervisors.

(d) "County" means Hinds County, Mississippi.

SECTION 2. When the board of supervisors finds and determines that the public convenience and necessity require an economic and community development authority, as evidenced by a resolution duly adopted and entered on the official minutes of the board of supervisors, the board of supervisors is authorized to establish an economic and community development authority, to be known as the Hinds County Economic Development Authority. The board of supervisors shall appoint trustees for the authority which shall be composed of twelve (12) trustees who shall be qualified electors of the county. The board of supervisors shall appoint the trustees currently serving as Trustees of the Board of the Hinds County Economic Development District as the initial trustees who shall serve initial terms equal to the terms to which they were appointed to serve as Trustees of the Hinds County Economic Development District. After the respective initial terms of office, successive trustees shall be appointed as follows: two (2) trustees shall be appointed from each supervisors district and two (2) trustees shall be appointed from the county at large for terms of four (4) years or until their successors are appointed and qualified. Trustees may be reappointed without limitation. The Trustees of the Hinds County Economic Development Authority serving in the positions of chairman, vice chairman and secretary-treasurer shall initially serve in the same capacity as trustees of the authority.

SECTION 3. Before entering upon the duties of office, each trustee of the authority shall take and subscribe the oath of office required by Section 268, Mississippi Constitution of 1890, and shall give bond in the sum of Five Thousand Dollars ($5,000.00), conditioned upon the faithful performance of his duties, such bond to be payable to the authority. The bond shall be approved by the authority and the premiums on all the surety bonds shall be paid by the authority. Within five (5) days after the initial trustees of the authority are appointed, the trustees of the authority shall meet at the regular meeting place of the Trustees of the Hinds County Economic Development District and shall adopt a seal and such bylaws, rules and regulations as may be necessary to govern the time, place and manner for holding subsequent meetings of the authority and for the conduct of its business, not inconsistent with the provisions of this act. The authority is authorized to adopt and put into effect any reasonable rules and regulations in order to carry out the intent and purpose of this act that are not in contravention of this act or law and is authorized, in its discretion, to appoint an executive committee to perform certain duties and functions and exercise such power and authority as the authority by duly adopted resolution shall prescribe. The trustees of the authority shall serve without salary or compensation; however, the actual expenses incurred by trustees of the authority in the performance of their duties may be reimbursed, including mileage as authorized by Section 25-3-41, Mississippi Code of 1972.

SECTION 4. (l) The authority is expressly authorized and empowered to acquire by gift, purchase or otherwise, and to own, hold, maintain, control and develop real estate situated within the county, either within or without the corporate limits of a municipality, for development, use and operation as industrial park complexes, industrial sites, business parks or for other economic development purposes, hereinafter referred to in this act as "projects," and is further authorized and empowered to engage in works of internal improvement therefor including, but not limited to, construction or contracting for the construction of streets, roads, railroads, site improvements, and water, sewage, drainage, pollution and other related facilities necessary or required for the development of such projects, and to acquire, purchase, install, lease, finance, construct, own, hold, equip, control, maintain, use, operate and repair structures and facilities necessary and convenient for the planning, development, use, operation and maintenance of such projects including, but not limited to, utility installations, elevators, compressors, warehouses, buildings, and air, rail and other transportation terminals, and pollution control facilities. In the event the authority takes by gift or otherwise any land, buildings or other tangible assets from any persons, corporations, public or private, the authority may assume all or any part of the liabilities resulting from such acceptance under such terms and conditions as will be in the best interest of the citizens of Hinds County.

(2) The authority is authorized and empowered to sell, lease, trade, exchange or otherwise dispose of sites situated within projects to individuals, firms or corporations, public or private, for all types of industrial, commercial, agricultural or other economic development uses upon such terms and conditions, for such consideration, and with such safeguards as will best promote and protect the public interest, convenience and necessity, and to execute options, deeds, leases, contracts, easements and other legal instruments necessary or convenient therefor.

(3) The authority is authorized and empowered to fix and prescribe fees, charges and rates for the use of any water, sewerage, pollution or other facilities constructed and operated, in connection with projects and to collect the fees and charges from persons, firms and corporations using the facilities for industrial, commercial, agricultural or other economic development purposes, except as to rates and charges against common carriers regulated by an agency of the federal government or the Mississippi Public Service Commission.

(4) The authority is authorized and empowered to employ engineers, attorneys, accountants, consultants upon a fee or retainer basis, and such executive and administrative personnel and other employees as shall be reasonably necessary to carry out the duties and authority authorized by this act, to determine their qualifications and duties and to establish compensation and other employment benefits as may be advisable to attract and retain proficient personnel. The authority, in addition to all other powers, is authorized and empowered to purchase, lease, sell and trade office equipment, to purchase necessary office supplies, to purchase or lease any equipment and vehicles the authority deems necessary for economic and industrial development and to carry out the purposes of this act. The authority is authorized, in addition to all other powers, to buy, lease, sell, convey and do all other necessary business transactions for carrying out the purpose of and administering the authority and to do all acts necessary and convenient to operate and carry out the duties of the authority.

(5) Subject to the prior written approval of the board of supervisors, the authority is expressly authorized and empowered to borrow money under the provisions of Section 9 of this act; and, in addition, the authority is authorized to borrow money by issuing its negotiable promissory notes secured by execution of a deed of trust upon any property owned by the authority, or other collateral available to or in the possession of the authority. The board of supervisors may pledge all or any portion of the levy authorized for support of the authority provided for in Section 6 of this act for the repayment of an indebtedness authorized under this act, and the county shall be obligated to continue the levy until the authorized indebtedness is paid in full. The pledge of the tax levy to secure repayment of any sums borrowed shall be done only by order spread upon the minutes of the board of supervisors and the authority after the affirmative vote of a majority of the members of the board of supervisors and trustees of the authority. This authority to borrow money shall be in addition to the authority of the county to borrow money or issue bonds as otherwise authorized by this act.

The county shall not be liable for the repayment of any indebtedness incurred by the authority unless the board of supervisors has pledged a portion of the tax levy otherwise authorized as security therefor, in which event the county shall be obligated only to the extent of the tax levy so pledged. The board of supervisors may, however, authorize payment on such debt from other sources available for such payment.

(6) The enumeration of any specific rights and powers contained 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. Nothing in this act should be construed to limit, restrict, or otherwise alter the duties, responsibilities and authority of the board of supervisors as provided under the Mississippi Constitution of 1890 and the laws of the State of Mississippi.

(7) Any industrial or economic development lease may be executed upon such terms and conditions and for such monetary rental, or other consideration as may be found adequate and approved by the authority in orders or resolutions authorizing the lease. Any covenants and obligations of the lessee to make expenditures in determined amounts, and within such time or times, for improvements to be erected on the land by the lessee and to conduct on the land industrial or economic development operations in such aggregate payroll amounts and for such period of time or times as may be determined and defined in the lease, and to give preference in employment, where practicable, to qualified residents of the county, shall, if included in the lease, constitute and be deemed sufficient consideration for the execution of the lease in the absence of or in addition to monetary rental or other considerations. The instrument may contain reasonable provisions giving the lessee the right to remove its or his improvements upon termination of the lease. The authority is further authorized to include arrangements in any such lease for the use of other lands and facilities on a temporary basis pending the availability of the land and/or facilities to be used by the lessee for the project, or, in the event that the project land and/or facilities are not yet identified or agreed upon, to lease land and/or facilities on a temporary basis in a separate agreement, pending the lease of the land and/or facilities to be used by the lessee for a project.

(8) If no bonds are issued under the authority of Section 9 of this act, the board of supervisors, upon request of the authority, is hereby authorized to issue bonds for the projects and purposes authorized in this act, the principal of and interest on which shall be payable solely out of the revenue derived from the sale, operation and leasing of the project and its facilities. The terms, conditions, forms and laws applicable to such bonds shall be as provided in Sections 57-3-19 through 57-3-23, Mississippi Code of 1972.

(9) Not less than sixty (60) days prior to the end of its fiscal year, the authority shall file with the board of supervisors a budget of projected revenues, expenses and other financial activities for the coming fiscal year in a form satisfactory to the board of supervisors and, in addition, as soon after the end of each fiscal year as practical, the authority shall file with the board of supervisors a copy of its certified audit and financial statement for the immediate past fiscal year of the authority.

(10) The authority is authorized and empowered to take all actions and expend such funds of the authority as shall be necessary or determined to be in the public interests for the promotion of economic development in the county, including, but not limited to, efforts to develop, promote, attract and/or expand existing businesses and industries, new businesses and industries, tourism, aerospace and aviation businesses, communications and information technology businesses, remote data centers, contact centers, warehousing and distribution businesses, shared services centers, defense homeland/security businesses, metal fabrication businesses, research and development businesses, and manufacturing within the county.

(11) The authority is authorized and empowered to take all actions and expend such funds of the authority as shall be necessary or determined to be in the public interests for the promotion of economic development in the county, including, but not limited to, efforts to develop and promote the county's workforce, promote available jobs within the county, and to develop and promote such training programs for aerospace and aviation businesses, communications and information technology businesses, remote data centers, contact centers, warehousing and distribution businesses, shared services centers, defense homeland/security businesses, metal fabrication businesses, manufacturing, tourism and hospitality businesses within Hinds County.

SECTION 5. The carrying out of the corporate purposes of the authority is in all respects for the benefit of the people of Hinds County and is a public purpose, and the authority will be performing an essential governmental function in the exercise of the powers conferred upon it by this act.

SECTION 6. In addition to rights, duties and powers now or hereafter conferred upon the board of supervisors, the board of supervisors, at the request of the authority, is authorized and empowered, in its discretion, to make available all tax revenue in the general fund of the county which is otherwise unappropriated for economic or industrial development purposes. Further, the board of supervisors, may, in its discretion, levy a tax of not more than two (2) mills against the taxable property in the county to be used to support and maintain the authority created hereunder. The levy so made shall be in addition to all other levies provided by law. Before any such levy is made, the board of supervisors shall signify its intention to make such a levy and publish notice of its intention in a newspaper published in Hinds County for thirty (30) days prior to making the levy. In the event twenty percent (20%) or fifteen hundred (1500), whichever is less, of the qualified electors of the county protest in writing to the board of supervisors against the imposition of the tax levy within thirty (30) days from the date the notice is published, then the proposed tax levy shall not be made unless same is approved by a majority vote of the qualified electors voting at a special election called for such purpose. The special election shall be conducted and held as provided by law.

SECTION 7. The authority, in addition to the monies which may be received by it from the sale of bonds and from the collection of revenues, rents and earnings derived under the provisions of this act, shall have the authority to accept from any public or private agency, or from any individual, grants for or in aid of the construction of any project, or for the payment of bonds, and to receive and accept contributions from any source of money or property or other things of value, to be held, used and applied only for the purposes for which such grants or contributions may be made.

SECTION 8. (1) Notwithstanding any provision of this act to the contrary, the trustees of the authority, with the written approval of the board of supervisors, and the governing authorities of any municipality located within the county may enter into a contract providing for the delivery of economic development and/or community development services to the municipality and contribution of funds by the municipality to the authority. If the municipality contributes funds to the authority, the contract may provide for the appointment by the municipal governing authorities of such number of nonvoting representatives, as may be determined by the parties to the contract, to advise in the management of the authority.

(2) The trustees of the authority, with the approval of the board of supervisors, may enter into a contract with the governing body of any economic or industrial development foundation or private economic development group in the county, or jointly with the governing body of any economic or industrial development foundation or private economic development group in the county and any municipality within the county, providing for the contribution of funds by any such economic development foundation or private economic development group and/or any such municipality. Any such contract may provide for the appointment by any such economic development foundation or private economic development group and/or by any such municipality of a number of nonvoting representatives to the board of trustees of the authority as determined in any such contract, to advise in the management of the authority.

SECTION 9. (1) For the purpose of providing funds to defray the expense of acquiring land and buildings, and the expense of improving the land and buildings, or other purposes related to economic development as provided by this act, and to refund any debt incurred by the authority pursuant to Section 4(5) of this act, the board of supervisors is authorized to issue the negotiable bonds or notes of the county as either general obligation bonds of the county or bonds secured by a special tax, not to exceed two (2) mills, upon all the taxable property within the county.

(2) The amount of all bonds or notes authorized to be issued under this act shall not exceed the outstanding principal amount of Fifty Million Dollars ($50,000,000.00).

(3) All bonds issued pursuant to this section may be serial or term, may be redeemable with or without premium, or nonredeemable, and may be registered or coupon bonds with registration privileges as to either principal or interest, principal only or both. All bonds or notes shall bear interest at such rate or rates not exceeding the rate of interest authorized by Section 75-17-101, Mississippi Code of 1972, or any successor statute, in effect at the time such bonds (or any series thereof) or notes are issued, shall be in such denomination or denominations, and shall be payable, both principal and interest, at such place or places, all as the board of supervisors shall determine. All bonds shall be sold in the manner now provided by law for the sale of bonds subject to the restrictions, limitations, requirements or conditions applicable to the borrowing of such money and the issuance of such bonds which are provided by law, shall be sold for not less than par value and shall mature not more than twenty-five (25) years from date, with or without the right of redemption, with or without premium, all as shall be determined by the board of supervisors. No less than one-fiftieth (1/50) of the total issue shall mature during each year during the first five (5) years of the life of such bonds, and not less than one-twenty-fifth (1/25) of the total issue shall mature each year during the succeeding period of ten (10) years of the life of such bonds and the remainder shall be divided into approximately equal annual payments of principal and interest, with payment to be made each year for the remaining life of such bonds. If, at the time bonds are proposed to be issued under the authority of this act, bonds previously issued pursuant to this act are then outstanding, the minimum principal retirement requirements for the proposed issue may be calculated on the basis of the principal amount of the proposed bond issue alone or on the basis of the aggregate original principal amount of all outstanding bond issues issued pursuant to this act, and those proposed to be issued and taking into account for each fiscal year the principal being retired on the outstanding bond issues in determining the minimum amount of principal to be retired. The bonds shall be executed on behalf of Hinds County in the manner provided by law for general obligation bonds of counties.

No bond shall bear more than one (1) rate of interest; each bond shall bear interest from its date to its stated maturity date at the interest rate specified in the bid; all bonds of the same maturity shall bear the same rate of interest from date to maturity; and all interest accruing on such bonds so issued shall be payable semiannually or annually, except that the first interest payment may be for any period not exceeding one (1) year.

No interest payment on coupon bonds shall be evidenced by more than one (1) coupon and neither cancelled nor supplemental coupons shall be permitted; the lowest interest rate specified for any bonds issued shall not be less than seventy percent (70%) of the highest interest rate specified for the same bond issue.

(4) Before issuing any bonds supported by a tax levy under the provisions of this act, the board of supervisors shall, by resolution spread upon its minutes, declare its intention to issue such bonds or notes supported by a tax levy for the purposes authorized by this act, and shall state in the resolution whether such bonds will be general obligation bonds of the county, secured by its full faith and credit, or limited tax obligations, secured by a special tax, not to exceed two (2) mills, upon all the taxable property within the county, the amount of bonds or notes supported by a tax levy proposed to be issued, and shall likewise fix in the resolution the date upon which such county proposes to direct the issuance of the bonds or notes supported by a tax levy. Notice of such intention shall be published once a week for at least three (3) consecutive weeks in a newspaper published or having a general circulation in Hinds County, Mississippi, with the first publication of such notice to be made not less than twenty-one (21) days prior to the date fixed in the resolution declaring the intent to issue such bonds or notes supported by a tax levy, and the last publication to be made not more than seven (7) days prior to such date. If, on or before the date specified in the resolution, twenty percent (20%) of the qualified electors, or fifteen hundred (1500), whichever is less, of the county shall file a written protest against the issuance of the bonds, then an election upon the issuance of the bonds shall be called and held as provided by this section. If no protest is filed, then the county may issue the bonds or notes supported by a tax levy without an election on the question of the issuance of the bonds at any time within a period of two (2) years after the date specified in the resolution. If an election is required by the protest of the appropriate number of qualified electors of the county, then an election shall be held by the county under applicable laws pertaining to the issuance of general obligation bonds by counties. However, nothing in this act shall prevent the county from calling an election, whether required by twenty percent (20%) or fifteen hundred (1500), whichever is less, of the qualified electors or not, in which event it shall not be necessary to publish the notice of its intent to issue the bonds.

(5) At such election, all qualified electors of the county may vote and the ballots used in such election shall have printed thereon a brief statement of the amount and purposes of the proposed borrowing and the words "FOR THE BOND (OR NOTE) ISSUE" and the words "AGAINST THE BOND (OR NOTE) ISSUE" and the voters shall vote by placing a cross (X) or check (�) opposite their choice on the proposition.

(6) When the results of the election shall have been canvassed by the election commission of the county and certified, the board of supervisors may issue the bonds or notes supported by a tax levy if a majority of the qualified electors who vote in the election vote in favor of the issuance of the bonds or notes supported by a tax levy. If the borrowing is approved, the county may issue the bonds or notes supported by a tax levy within two (2) years from the date of such election, or within two (2) years after final favorable determination of any litigation affecting the issuance of the bonds or notes supported by a tax levy at such time or times and in such amount or amounts, not exceeding that specified in the notice of the election, as shall be deemed proper by the county.

(7) It shall be the duty of the board of supervisors annually to levy and collect such special tax as shall have been authorized, either in whatever amount is required with regard to any general obligation bonds of the county, or not to exceed two (2) mills in the case of limited tax bonds, upon all of the taxable property within the county which shall be sufficient to provide for the payment of the principal and interest on the bonds or notes supported by a tax levy issued pursuant to this section and the interest thereon, according to the terms thereof. However, the board of supervisors may pledge all or any portion of any income derived by the authority from the sale or lease of the real property authorized to be acquired, constructed or improved with proceeds of bonds or notes issued pursuant to this act to be used for the retirement of such bonds supported by a tax levy authorized to be issued under this act. Any such remaining income may be used for further industrial or economic development purposes, including retiring other outstanding debt of the authority.

(8) (a) Any bonds issued under this section at any time outstanding may, at any time and from time to time, be refunded by the county by the issuance of its refunding bonds in such amount as the board of supervisors may deem necessary, but not exceeding:

(i) The principal amount of the obligations being refinanced;

(ii) Applicable redemption premiums thereon;

(iii) Unpaid interest on such obligations to the date of delivery or exchange of the refunding bonds;

(iv) In the event the proceeds from the sale of the refunding bonds are to be deposited in trust as provided in paragraph (c) of this subsection, interest to accrue on such obligations from the date of delivery of the refunding bonds to the date of maturity or to the first redemption date of the obligations to be refunded; and

(v) Expenses, premiums and commissions deemed by the board of supervisors to be necessary in connection with the issuance of the refunding bonds and the refunding of the refunded bonds.

(b) Any such refunding may be effected, whether the obligations to be refunded shall have then matured or shall thereafter mature, either by the exchange of the refunding bonds for the obligations to be refunded thereby with the consent of the holders of the obligations so to be refunded, or by sale of the refunding bonds and the application of the proceeds thereof to the payment of the obligations to be refunded thereby, and regardless of whether the obligations proposed to be refunded shall be payable on the same date or different dates or shall be due serially or otherwise.

(c) The principal proceeds from the sale of any refunding bonds shall be applied only as follows: (i) to the immediate payment and retirement of the obligations being refunded; or (ii) to the extent not required for the immediate payment of the obligations being refunded, then such proceeds shall be deposited in trust to provide for the payment and retirement of the principal of and interest on obligations being refunded, and to pay any expenses incurred in connection with such refunding, but may also be used to pay interest on the refunding bonds prior to the retirement of the obligations being refunded. Money in any such trust fund may be invested in direct obligations of, or obligations, the principal of and interest on which are guaranteed by the United States government, or obligations of any agency or instrumentality of the United States government, or in certificates of deposit issued by a bank or trust company or insured savings and loan association located in the State of Mississippi, if such certificates shall be secured by a pledge of any of the obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured. Nothing in this section shall be construed as a limitation on the duration of any deposit in trust for the retirement of obligations being refunded, but which shall not have matured and which shall not be presently redeemable.

(9) The bonds or notes authorized by this act and the interest thereon, and the revenues derived therefrom, shall be exempt from all income taxation in the state. Any general obligation bonds issued pursuant to this act shall be subject to the debt limits provided in Section 19-9-5, Mississippi Code of 1972. Any revenue or limited tax bonds or notes shall not be included in such debt limit, but any limited tax bonds or notes shall count against the Fifty Million Dollars ($50,000,000.00) limitation provided for in this section.

(10) All bonds issued under the provisions of this section shall be legal investments for trustees and other fiduciaries, and for savings banks, trust companies and insurance companies organized under the laws of the State of Mississippi and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and political subdivisions for the purpose of securing the deposit of public funds.

SECTION 10. Any bonds issued under the provisions of this act shall be validated in the manner provided by law.

SECTION 11. The board of supervisors is authorized, in their discretion, by duly adopted resolution, to dissolve the Hinds County Economic Development District, created by Section 19-5-99, Mississippi Code of 1972, and to transfer or sell any part of the assets, liabilities and other responsibilities and obligations of the district to the authority under such terms and conditions as may be in the best interest of the county, or as may be required by state or federal law, existing bond resolutions, existing contracts, or other requirements in order to effectuate the intent of this act.

SECTION 12. The authority, in addition to the monies which may be received by it from the sale of bonds and from the collection of revenues, rents and earnings derived under the provisions of this act, may accept from any public or private agency or entity, or from any individual, grants for or in aid of the construction of any project, or for the payment of bonds, and to receive and accept contributions from any source, of money or property or other things of value to be held, used and applied for the purpose for which such grants or contributions may be made.

SECTION 13. The authority is authorized to:

(a) Apply for and accept grants and loans on behalf of the authority, the county and any contracting municipality from the State of Mississippi or the United States of America or any agency thereof; and

(b) Contract with any agency of the State of Mississippi and the United States of America for the development of Hinds County.

SECTION 14. This act, without reference to any other statute not referenced herein, shall be deemed to be full and complete authority for the exercise of the powers herein granted, but this act shall not be deemed to repeal or to be in derogation of any existing law of this state whereunder projects of the character herein defined may be constructed or financed. This act, without reference to any statute not referenced herein, shall be deemed to be complete authority for the issuance of the bonds and notes provided for herein, and shall be construed as an additional and alternative method therefor, and none of the present restrictions, requirements, conditions or limitations of law applicable to the issuance or sale of bonds, notes or other obligations by counties in this state shall apply to the issuance and sale of bonds under this act, and no proceedings shall be required for the issuance of such bonds other than those provided for and required herein, and all powers necessary to be exercised in order to carry out the provisions of this act are hereby conferred.

SECTION 15. The Board of Supervisors of Hinds County is authorized and empowered to adopt any and all lawful resolutions, orders and/or ordinances; to execute such documents, contracts, leases, certificates and indentures; and to do and perform any and all acts and things necessary and requisite to carry out the purposes of this act.

SECTION 16. This act shall take effect and be in force from and after its passage.