MISSISSIPPI LEGISLATURE

1998 Regular Session

To: Local and Private Legislation

By: Representative Perry

AN ACT TO AUTHORIZE THE GOVERNING AUTHORITIES OF THE CITY OF OXFORD, MISSISSIPPI, TO ENTER INTO INTERLOCAL AGREEMENTS WITH OTHER POLITICAL SUBDIVISIONS TO DEVELOP AND ESTABLISH ONE OR MORE SMALL BUSINESS INCUBATORS; TO AUTHORIZE THE GOVERNING AUTHORITIES OF THE CITY OF OXFORD TO CONTRIBUTE FUNDS TO ANY SUCH SMALL BUSINESS INCUBATOR; AND FOR RELATED PURPOSES. 

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

SECTION 1. (1) The governing authorities of the City of Oxford, Mississippi, in their discretion, may enter into interlocal agreements with other political subdivisions to establish one or more small business incubators.

(2) The governing authorities of the City of Oxford, Mississippi, in their discretion, may contribute funds from any available funds, in an amount not to exceed Ten Thousand dollars ($10,000.00) per fiscal year for three (3) fiscal years, to any small business incubator established pursuant to an interlocal agreement entered into under subsection (1) of this section.

SECTION 2. This act shall take effect and be in force from and after its passage.