MISSISSIPPI LEGISLATURE

1997 Regular Session

To: Rules

By: Representative Horne

A RESOLUTION URGING THE ATTORNEY GENERAL AND ANY OTHER APPROPRIATE STATE OFFICIALS TO PROSECUTE ANY PERSONS WITH CRIMINAL LIABILITY FOR THE FAILINGS OF THE MAGNOLIA VENTURE CAPITAL CORPORATION. 

WHEREAS, the Legislature passed the Venture Capital Act of 1994 to help business climates and improve economic conditions in the state; and

WHEREAS, the major responsibility for program operations is vested in the Magnolia Venture Capital Corporation; and

WHEREAS, the Magnolia Venture Capital Corporation has failed in fulfilling its responsibilities which has resulted in the actual losses to the state totaling $5,997,088; and

WHEREAS, any persons responsible for such losses should be accountable to the taxpayers of the State of Mississippi and should be prosecuted for any and all wrongdoing:

NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE STATE OF MISSISSIPPI, That we do hereby urge the Attorney General and any other appropriate state officials to prosecute any persons involved with any criminal wrongdoing of the Magnolia Venture Capital Corporation.

BE IT FURTHER RESOLVED, That a copy of this resolution be furnished to the Attorney General.