MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Ways and Means

By: Representative Brown

AN ACT TO CREATE AND ESTABLISH THE GOLDEN TRIANGLE REGIONAL COMMUNICATION AUTHORITY; TO PLAN, IMPLEMENT, ACQUIRE, CONSTRUCT, OPERATE AND MAINTAIN THE NECESSARY INFRASTRUCTURE TO MAINTAIN A REGIONAL EMERGENCY COMMUNICATIONS NETWORK TO SERVE PUBLIC AGENCIES OF THE AREA ENSURING COMPATIBILITY OF EQUIPMENT AND INTERCONNECTIVITY IN TIMES OF EMERGENCIES; TO DEFINE CERTAIN TERMS; TO PROVIDE THE POWERS AND DUTIES OF THE AUTHORITY; TO PROVIDE FOR A BOARD OF COMMISSIONERS; TO PROVIDE FOR THE POWERS AND DUTIES OF THE BOARD; TO AUTHORIZE THE ISSUANCE OF BONDS; TO AUTHORIZE TEMPORARY BORROWING; TO PROVIDE FOR REFUNDING BONDS; TO PROVIDE FOR THE TERMS AND CONDITIONS OF BONDS; TO PROVIDE TAX EXEMPTIONS; TO SPECIFY POWERS AND DUTIES OF LOCAL UNITS OF GOVERNMENT; TO AUTHORIZE CONTRACTING; TO PROVIDE THE POWER OF EMINENT DOMAIN; TO AMEND SECTION 27-31-1, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.

WHEREAS, many changes are now occurring in the field of telecommunications affecting the ability of local governmental agencies to maintain and operate necessary modern communications equipment for law enforcement, public safety, health and welfare, and

WHEREAS, it is important that local governmental agencies, law enforcement, emergency agencies, and public and co-operative utilities have the ability and capability to communicate efficiently and effectively using equipment of superior performance and broad compatibility between users in times of emergencies, natural disasters and other times of public needs, and

WHEREAS, legislation is needed to provide for local governments to develop an area wide communications network capable of providing digital, fiber optic, coaxial and/or copper conductor with necessary electricity, converter and other plants, infrastructure and equipment necessary or appropriate to receive, transmit, broadcast and communicate voice and data within the area of the Golden Triangle Planning and Development District and among the governmental agencies, departments, hospitals, utilities and other entities which serve the public in times of emergencies; NOW, THEREFORE,

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

SECTION 1. The purpose of this act is to authorize governing bodies in the service area to create a regional authority to provide for and meet the emergency communications needs of the region with the establishment, implementation and operation of a regional emergency communications system to provide communication services to police, fire departments, local government agencies, hospitals, public or co-operative utilities, airports, special emergency services and other entities that benefit the public safety and interest and to provide for the siting, acquisition, construction and operation of a regional communications network.

SECTION 2. (1) The Golden Triangle Communications Authority may hereinafter be created under authority of this act and in the manner hereinafter provided. Those political subdivisions eligible to become members of the authority are those political subdivisions who are located, in whole or in part, within the Golden Triangle Planning and Development District. Once created, the authority shall be an agency of the state and a body politic and corporate.

(2) Two (2) or more political subdivisions may, by resolution of each, create a public body, corporate and politic, to be known as a regional communication authority which shall be authorized to exercise its functions upon the issuance by the secretary of state of a certificate incorporation. The governing body of each political subdivision that is a member of the authority shall, pursuant to its resolution, appoint one (1) person as a commissioner of the authority.

(3) The membership of the authority may be increased from time to time to serve one (1) or more additional political subdivision if each additional political subdivision and each of the members then included in the regional authority and the commissioners of the regional authority, respectively, adopt a resolution consenting thereto.

(4) A regional authority may be decreased if each of the members then included in the regional authority and the commissioners of the regional authority consent to the decrease and make provision for the withdrawal of any member. However, if the regional authority has any obligations, bonds, or any other indebtedness outstanding, no withdrawal shall be effected unless the withdrawing member shall first pay an amount to defease or to pay to the authority its pro rata share of any obligation or indebtedness then outstanding.

SECTION 3. Once created as provided herein the authority may:

(a) Study, evaluate and determine the communication needs of the region and the requirements for the creation of a regional communications network.

(b) Plan, acquire, purchase and/or construct, own, operate and maintain, lease, in whole or in part, a telecommunications system within the area composed of the jurisdiction of the members of the authority and other entities who may declare their intent to participate, and contract with the authority comprised of:

(i) Fiberoptic, coaxial, and/or copper conductors with necessary electronics, connections, and other plant and equipment necessary or appropriate to receive, transmit, broadcast and communicate void and data; and

(ii) Employ such other means or instruments of communications as the governing authorities in their discretion may select to accomplish.

(c) Plan and determine the best use of the communication system for the receipt, transmission, broadcast, or communication of voice and data for communications by and among, from or to, law enforcement, emergency agencies, departments and agencies of local government, and the public offices of other governments, public entities, utilities, airports, hospitals, education entities and other public service entities.

(d) Provide access to the communications system to one or more public agencies, or other users or consumers of emergency communications services, and to provide any lawful communications service the governing authorities may deem appropriate.

SECTION 4. Whenever used in this act, the following words and terms shall have the following respective meanings unless a different meaning clearly appears from the context:

(a) "Board" means the board of directors of the authority.

(b) "Bonds" means either revenue bonds, general obligation bonds, bond anticipation notes, or other types of debt instruments issued by the authority unless the reference to bonds clearly indicates "revenue bonds," "general obligation bonds," "bond anticipate notes," or such other forms of debt instruments.

(c) "Service area" means that area composed of the geographical area of the counties which are members of the Golden Triangle Planning and Development District.

(d) "Facilities" mean any plant, structure, building, improvement, land, or any other real or personal property of the authority or used or useful in providing emergency communication service under this act.

(e) "Governing body" means the elected or duly appointed officials constituting the governing body of a municipality or county.

(f) "Person" means any natural person, corporation, association, public or co-operative utility, governmental unit, public agency, political subdivision, or any other group acting as a unit, and the plural as well as the singular.

(g) "Project" means any facility, to provide emergency communication service, together with all real property required for construction, maintenance and operation of the facility together with all buildings and other supporting land and facilities, structures or improvements of whatever kind required or useful for construction, maintenance and operation of emergency communication system.

(h) "Public agency" means:

(i) Any department, board, commission, institution or other agency or instrumentality of the state;

(ii) Any city, town, county, political subdivision, school district, public or cooperative utility or other district created or existing under the laws of the state or any public agency of any such city, town, county, political subdivision or district;

(iii) Any department, commission, agency or instrumentality of the United States of America; and

(iv) Any other state of the United States of America which may be cooperating with respect to location of the project within the state, or any agency thereof.

(v) Any public or private agency determined by the governing body of the member and the board of the authority to provide a necessary general public service to the population of the services area.

(i) "Services area" means the area within the counties that are members of the Golden Triangle Planning and Development District.

SECTION 5. (1) All powers of the authority shall be vested in a board of commissioners which will exercise all powers of the authority. The board shall consist of an appointee of the governing body of each member of the authority. Appointments shall be for four (4) years and a plan for staggered terms shall be determined by the initial board, such that as near as possible only one-third (1/3) of the board shall have their term end each year.

(a) After the initial term, the commissioner shall serve term of four (4) years, and for such period thereafter until a successor shall be duly appointed and qualified.

(b) Each member of the board shall be eligible for reappointment. All vacancies shall be filled by appointment in the same manner, provided that any person appointed to fill a vacancy shall serve only for the unexpired term. Any commissioner may be removed at any time prior to the expiration of the member's term of office for misfeasance, malfeasance or willful neglect of duty, as determined by the appointing political subdivision or a majority of the board. Before assuming office, each commissioner shall take and subscribe to the constitutional oath of office before a chancery clerk, and a record of such oath shall be filed with the Secretary of State. The board shall annually select a chairman and vice chairman.

(2) The board may employ such personnel and appoint and prescribe the duties of such officers as the board deems necessary or advisable, including a general manager and a secretary of the authority or the board may contract with a person, public or private entity to serve as a system administrator. The system administrator or the general manager shall have a minimum of five (5) years' experience in management and communication. The general manager may also serve as secretary and shall be a person of good moral character and of proven ability as an administrator with a minimum of five (5) years' experience in management and communications. The general manager or systems administrator shall administer, manage, and direct the affairs and business of the authority, subject tot the policies, control, and direction of the board. The general manager or system administrator and any director not bonded in another capacity shall give bond executed by a surety company or companies authorities to do business int he respective states in the penal sum of no less than Fifty Thousand Dollars ($50,000.00), as determined by the board payable to the authority conditioned upon the faithful performance of his duties and the proper accounting for all funds. The board may require any of its employees to be bonded. The cost of any bond required by this section or by the board shall be paid from funds of the authority. The secretary shall keep a record of the proceeding of the authority and shall be custodian of all books, documents, and papers filed with the authority, the minute book or journal, and the official seal. The secretary may make copies of all minutes and other records and documents of the authority and certify under the seal of the authority that such copies are true and accurate copies, and all persons dealing with the authority may rely upon such certification.

(3) Regular meetings of the board shall be held as set forth in its bylaws, rules or regulations. Additional meetings of the board shall be held at the call of the chairman or general manager, or system administrator, whenever any three (3) members of the board so request.

(4) Members of the board shall not receive any compensation, but may receive reimbursement for actual and necessary expenses incurred or per diem in lieu thereof.

(5) The board shall prepare a budget for the authority for each fiscal year at least sixty (60) days prior to the beginning of each fiscal year, which shall be from October 1 to September 30 of each year.

SECTION 6. From and after the creation of the authority shall be a public corporation, body politic with all the rights and powers now or hereafter conferred as may be deemed necessary to carry out the purposes of the act including the following:

(a) To maintain an office at a place or places within either state.

(b) To sue and be sued in its own name.

(c) To adopt and use a corporate seal.

(d) To employ or contract with a general manager, system administrator, architects, engineers, attorneys, accountants, construction and financial experts and such other advisors, managers, consultants and agents as may be necessary in its judgment and to fix and pay their compensation.

(e) To make, adopt, enforce, amend, and repeal bylaws and rules and regulations for the management of its business and affairs for the use, maintenance, and operation of the authority, any of the facilities and any other of its properties.

(f) To borrow money and to issue bonds, notes, and other evidence of indebtedness for any of its purposes and to provide for and secure the payment thereof and to provide for the rights of the holders thereof.

(g) To invest any monies of the authority, including proceeds from the sale of any bonds subject to any agreements with bondholders, on such terms and in such manner as the authority deems proper.

(h) To exercise any one or more of the powers, rights, and privileges under this act either alone or jointly or in common with one or more other public or private parties. In any such exercise of such powers, right, and privileges jointly or in common with others for the development, construction, operation, and maintenance of facilities within the authority or the provider of facility services within the service area. The authority may enter into an agreement or agreements with respect to any such facility with the other party or parties, public or private, participating therein including development agreements, and operating agreement. An agreement may contain such terms, conditions, and provisions, consistent with his section, as the parties thereto shall deem to be in their best interest, including, but not limited to , provisions for the construction, operation, and maintenance of such facilities by any one or more party of the parties to such agreement.

(i) To provide the services of any facility or project within the service area to any political subdivision, public agency, department or utility with the service area and as determined by the board any public service agency and/or private nonprofit public service entity providing necessary public services, provided however, the authority has obtained any required governmental approval for such service.

(j) To make such applications and enter into such contracts for financial assistance as may be appropriate under applicable federal or state law.

(k) To apply for, accept and utilize grants, gifts, donations, and other funds or aid form any source for any purpose contemplated by this act, and to comply, subject to the provisions of the act, with the terms and conditions thereof.

(l) To acquire by purchase, lease, gift, investment, trade, exchange or in other manner, including eminent domain as may be authorized under this act, or obtain options to acquire, and to own, maintain, use, operate, and convey any and all property of any kind, real, personal, or mixed or easement therein or any interest or estate therein, within the service area reasonably necessary for the project or any facility related to the project.

(m) To make or cause to be made such examinations, studies, and surveys as may be reasonably necessary to the planning, design, construction and operation of the project.

(n) To enter into a development agreement with any public agency or person for the development of the service area, facility property, facility or any portion thereof upon such terms as the parties might agree to carry out the purposes of this act.

(o) To enter into contracts with any person or public agency including, but not limited to, in furtherance of any of the purposes authorized by this act upon such consideration as the authority and such person or public agency may agree. Any such contract may extend over any period of time, notwithstanding any rule of law to the contrary, may be upon such terms as the parties thereto shall agree, and may provide that it shall continue in effect until bonds specified therein, refunding bonds issued in lieu of such bonds, and all other obligations specified therein are paid or terminated. Any such contract shall be binding upon the parties thereto according to its terms. Such contracts may include an agreement to reimburse a party to such contract for any assistance provided to the authority in the acquisition of real property to the project or the development of any facility related to the project.

(p) To establish and maintain reasonable rates and charges for the use of any facility with the service area owned or operated by the authority, or services provided by the authority and from time to time to adjust such rates and to impose penalties for failure to pay such rates and charges when due.

SECTION 7. The authority may adopt and promulgate all reasonable rules and regulations regarding the operation of the authority, its facilities, and services area, and the specifications and standards relating to the construction, operation, and maintenance of any facility, provided such are in compliance with FCC regulations.

SECTION 8. (1) The authority is empowered and authorized, from time to time, to issue bonds in such principal amounts as shall be necessary to provide sufficient funds for achieving any of its corporate purposes, including without limiting the generality of the foregoing, the financing of the acquisition, construction, improvement of facilities or any combination thereof, the payment of interest on bonds of the authority, establishment of reserves to secure such bonds, expenses incident to the issuance of such bonds including bond insurance and to the implementation of programs or projects, and any other capital expenditures but not operating costs of the authority incident to or necessary or convenient to carry out its corporate purposes and powers.

(2) The authority may issue such types of bonds or notes as it may determine, subject only to any agreement with the holders of particular bonds, including bonds as to which the principal and interest are payable exclusively from all or a portion of the revenues derived from one or more facilities pursuant to the contract entered into by public agencies, and other persons, or any combination of any of the foregoing, or which may be secured by a pledge or any grant, subsidy, or contribution from any public agency or other persons, or a pledge of an income or revenues, funds or monies of the authority from any source whatsoever.

(3) Bonds shall be authorized by a resolution or resolutions of the board. Such bonds shall bear such date or dates, mature at such time or times (either serially, term or a combination thereof), bear interest at such rate or rates, be in such denomination or denominations, be in such registered form, carry such conversion or registration privileges, have such rank or priority, be executed in such manner and by such officers, be payable from such sources in such medium of payment at such place or places within or without the state, provided that one (1) such place shall be within the state, be subject to such terms of redemption prior to maturity, all as may be provided by resolution or resolutions of the compact.

(4) Any bonds of the authority may be sold at such price or prices, at public or private sale, in such manner and at such times as may be determined by the authority to be in the public interest, and the authority may pay all expenses, premiums, fees and commissions which it may deem necessary and advantageous in connection with the issuance and sale thereof.

(5) Any pledge of earnings, revenues or other monies made by the authority shall be valid and binding from the time the pledge is made and the earnings, revenues or other monies so pledged and thereafter received by the authority shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act. The lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the authority irrespective or whether such parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need to be recorded.

(6) Neither the board members no any person executing the bonds shall be personally liable on the bonds or be subject to any personal liability or accountability by reason of the issuance thereof.

(7) Whenever any bonds shall have been signed by the officers designated by resolution of the authority to sign the bonds who were in office at the time of such signing but who may have ceased to be such officers prior to the sale and delivery of such bonds, or who may not have been in office on the date such bonds may bear, the manual or facsimile signatures of such officers upon such bonds and the coupons appertaining thereto, shall nevertheless be valid and sufficient for all purposes and have the same effect as if the person so officially executing such bonds had remained in office until the delivery of the same to the purchaser or had been in office on the date such bonds may bear.

(8) The bonds issued by the authority shall be limited obligations of such authority. The principal, interest and redemption premium, if any, shall be payable solely out of the moneys to be derived by the authority. Revenue bonds and interest coupons issued under authority of this act shall never constitute an indebtedness of the state or any county or municipality within the meaning of any state constitutional provision or statutory limitation and shall never constitute nor give rise to a pecuniary liability of a county or municipality or the state, or a charge against its general credit or taxing powers, and such fact shall be plainly stated on the fact of each bond.

SECTION 9. (1) Pending the issuance of revenue bonds by the authority, the board is hereby authorized to make temporary borrowings not to exceed two (2) years in anticipation of the issue of bonds in order to provide funds in such amounts as may, from time to time, be deemed advisable prior to the issue of bonds. To provide for such temporary borrowings, the authority may enter into any purchase, load or credit agreement, or agreements or other agreement or agreements with any banks or trust companies or other lending institutions, investment banking firms or persons in the United States having power to enter into the same.

(2) All temporary borrowings made under this section shall be evidenced by notes of the authority which shall be issued, from time to time, for such amounts, in such form and in such denominations and subject to terms and conditions of sale and issue, prepayment or redemption and maturity, rate or rates of interest and time of payment of interest as the board shall authorize and direct. Such authorization and direction may provide for the subsequent issuance of replacement notes to refund, upon issuance thereof, such notes, and may specify such other terms and conditions with respect to the notes and replacement notes thereby authorized for issuance as the board may determine and direct.

SECTION 10. The authority may issue refunding bonds for the purpose of paying any of its bonds at or prior to maturity or upon acceleration or redemption. Refunding bonds may be issued at such time prior to the maturity or redemption of the refunded bonds as the authority deems to be in the public interest. The refunding bonds may be issued in sufficient amounts to pay or provide the principal of the bonds being refunded, together with any redemption premium thereof, any interest accrued or to accrue to the date of payment of such bonds, the expenses of issue of the refunding bonds, the expenses of redeeming the bonds being refunded, and such reserves for debt service or other capital or current expenses from the proceeds of such refunding bonds as may be required by the resolution, trust indenture or other security instruments.

SECTION 11. The authority shall have power in the issuance of its bonds to:

(a) Covenant to charge rates, fees and charges sufficient to meet operating and maintenance expenses, renewals, and replacements, principal and debt service on bonds, creation, and maintenance of any reserves required by a bond resolution, trust indenture or other security instrument and to provide for any margins or coverages over and above debt service on the bonds deemed desirable for the marketability of the bonds.

(b) Covenant as to the mortgage or pledge of or the grant of a security interest in any real or personal property and all or any part of the revenues from any facilities or any revenue producing contract or contracts made by the compact with any person to secure the payment of bonds, subject to such agreements with the holders of bonds as may then exist.

(c) Make all other covenants and to do any and all such acts and things as may be necessary or convenient or desirable in order to secure it bonds, or in the absolute discretion of the authority tend to make the bonds more marketable, notwithstanding that such covenants, acts or things may not be enumerated herein; it being the intention hereof to give the authority power to do all things in the issuance of bonds and in the provisions for security thereof which are not inconsistent with the constitution of the state.

(d) Execute all instruments necessary or convenient in the exercise of the powers herein granted in the performance of covenants or duties, which may contain such covenants and provisions, as any purchaser of the bonds of the authority may reasonable require.

SECTION 12. (1) The exercise of the powers granted by this act will be in all respects for the benefit of the people of the states for their well-being and prosperity and for the improvement of public safety and health, and authority shall not be required to pay any tax or assessment on any property owned by the authority or the authority upon the income therefrom.

(2) Any bonds issued by the authority under this act, their transfer and the income therefrom shall at all time be free from taxation by the state or any unit of local government or other instrumentality of the state, except for inheritance and gift taxes.

SECTION 13. For the purpose of attaining the objectives of this act, any county, municipality or other unit of local government, public corporation, agency or instrumentality of the state, a county or municipality or person may, upon terms and with or without consideration, as it may determine, do any or all of the following:

(a) Lend, contribute or donate money or property to the authority or perform services for the benefit thereof;

(b) Donate, sell, convey, transfer, lease, option or grant upon such terms as the parties may agree, without the necessity of authorization at any election of qualified voters, any property of any kind; and

(c) Do any and all things, whether or not specifically authorized in this section, not otherwise prohibited by law, that are necessary or convenient to aid and cooperate with any authority in attaining the objectives of the act.

SECTION 14. Contracts for acquisition, purchase, construction and/or installation of a project shall be effected in the manner prescribed by law for public contracts.

SECTION 15. For the purpose of aiding in the planning, design, undertaking carrying out the project or any facility related to the project, any public agency within the service area is authorized and empowered upon such terms, with or without consideration, as it may determine:

(a) To enter into agreements, which may extend over any period, with the authority respecting action to be taken by such public agency with respect to the acquisition, planning, construction, improvement, operations, maintenance or funding of emerging communications services or any facility for such purpose, and which agreements may include:

(i) The appropriation or payment of funds to the authority or to a trustee in amounts which shall be sufficient to enable the authority to defray any designated portion or percentage of the expenses of administering, planning, designing, constructing, acquiring, improving, operating, and maintaining the project or any facility related to the project, and

(ii) The furnishing of emergency communication services in connection with the facilities of the authority.

SECTION 16. The authority is authorized to acquire property, real, personal or mixed, within or without its territorial limits, in fee simple or any lesser interest or estate, by purchase, gift, devise or lease, on such terms and conditions as the board may deem necessary or desirable, and by condemnation, all provided that the board determines that the use or ownership of such property is necessary in the furtherance of a designated lawful purpose authorized under the provisions of this act, and amendments thereto; easements or rights-of-way with or without restrictions within the limits of the authority; to make purchase money mortgages and deed trusts and other forms of encumbrance on any property acquired by the authority and to purchase property subject to purchase money mortgages or other encumbrances.

SECTION 17. The authority is authorized to exercise the power of eminent domain for the particular purpose of the acquisition of property and easements, designated by plan to sufficiently accommodate the location of the specific facilities, and such requirements related directly thereto pursuant to the provisions of applicable state law. Provided, however, prior to the exercise of this power the board of commissioners shall enter on its minutes the determination of the need to use the power of eminent domain for the acquisition of a part of the total acreage involved, not to exceed twenty-five percent (25%), and the board shall so specify in its minutes, which shall be the authority's evidence of authority to use the power of eminent domain as above specifically defined.

SECTION 18. Section 27-31-1, Mississippi Code of 1972, is amended as follows:

27-31-1. The following shall be exempt from taxation:

(a) All cemeteries used exclusively for burial purposes.

(b) All property, real or personal, belonging to the State of Mississippi or any of its political subdivisions, except property of a municipality not being used for a proper municipal purpose and located outside the county or counties in which such municipality is located. A proper municipal purpose within the meaning of this section shall be any authorized governmental or corporate function of a municipality.

(c) All property, real or personal, owned by units of the Mississippi National Guard, or title to which is vested in trustees for the benefit of any unit of the Mississippi National Guard; provided such property is used exclusively for such unit, or for public purposes, and not for profit.

(d) All property, real or personal, belonging to any religious society, or ecclesiastical body, or any congregation thereof, or to any charitable society, or to any historical or patriotic association or society, or to any garden or pilgrimage club or association and used exclusively for such society or association and not for profit; not exceeding, however, the amount of land which such association or society may own as provided in Section 79-11-33. All property, real or personal, belonging to any rural waterworks system or rural sewage disposal system incorporated under the provisions of Section 79-11-1. All property, real or personal, belonging to any college or institution for the education of youths, used directly and exclusively for such purposes, provided that no such college or institution for the education of youths shall have exempt from taxation more than six hundred forty (640) acres of land; provided, however, this exemption shall not apply to commercial schools and colleges or trade institutions or schools where the profits of same inure to individuals, associations or corporations. All property, real or personal, belonging to an individual, institution or corporation and used for the operation of a grammar school, junior high school, high school or military school. All property, real or personal, owned and occupied by a fraternal and benevolent organization, when used by such organization, and from which no rentals or other profits accrue to the organization, but any part rented or from which revenue is received shall be taxed.

(e) All property, real or personal, held and occupied by trustees of public schools, and school lands of the respective townships for the use of public schools, and all property kept in storage for the convenience and benefit of the State of Mississippi in warehouses owned or leased by the State of Mississippi, wherein said property is to be sold by the Alcoholic Beverage Control Division of the State Tax Commission of the State of Mississippi.

(f) All property, real or personal, whether belonging to religious or charitable or benevolent organizations, which is used for hospital purposes, and nurses' homes where a part thereof, and which maintain one or more charity wards that are for charity patients, and where all the income from said hospitals and nurses' homes is used entirely for the purposes thereof and no part of the same for profit.

(g) The wearing apparel of every person; and also jewelry and watches kept by the owner for personal use to the extent of One Hundred Dollars ($100.00) in value for each owner.

(h) Provisions on hand for family consumption.

(i) All farm products grown in this state for a period of two (2) years after they are harvested, when in the possession of or the title to which is in the producer, except the tax of one-fifth of one percent (1/5 of 1%) per pound on lint cotton now levied by the Board of Commissioners of the Mississippi Levee District; and lint cotton for five (5) years, and cottonseed, soybeans, oats, rice and wheat for one (1) year regardless of ownership.

(j) All guns and pistols kept by the owner for private use.

(k) All poultry in the hands of the producer.

(l) Household furniture, including all articles kept in the home by the owner for his own personal or family use; but this shall not apply to hotels, rooming houses or rented or leased apartments.

(m) All cattle and oxen.

(n) All sheep, goats and hogs.

(o) All horses, mules and asses.

(p) Farming tools, implements and machinery, when used exclusively in the cultivation or harvesting of crops or timber.

(q) All property of agricultural and mechanical associations and fairs used for promoting their objects, and where no part of the proceeds is used for profit.

(r) The libraries of all persons.

(s) All pictures and works of art, not kept for or offered for sale as merchandise.

(t) The tools of any mechanic necessary for carrying on his trade.

(u) All state, county, municipal, levee, drainage and all school bonds or other governmental obligations, and all bonds and/or evidences of debts issued by any church or church organization in this state, and all notes and evidences of indebtedness which bear a rate of interest not greater than the maximum rate per annum applicable under the law; and all money loaned at a rate of interest not exceeding the maximum rate per annum applicable under the law; and all stock in or bonds of foreign corporations or associations shall be exempt from all ad valorem taxes.

(v) All lands and other property situated or located between the Mississippi River and the levee shall be exempt from the payment of any and all road taxes levied or assessed under any road laws of this state.

(w) Any and all money on deposit in either national banks, state banks or trust companies, on open account, savings account or time deposit.

(x) All wagons, carts, drays, carriages and other horse drawn vehicles, kept for the use of the owner.

(y) (1) Boats, seines and fishing equipment used in fishing and shrimping operations and in the taking or catching of oysters.

(2) All towboats, tugboats and barges documented under the laws of the United States, except watercraft of every kind and character used in connection with gaming operations.

(z) All materials used in the construction and/or conversion of vessels in this state; vessels while under construction and/or conversion; vessels while in the possession of the manufacturer, builder or converter, for a period of twelve (12) months after completion of construction and/or conversion, and as used herein the term "vessel" shall include ships, offshore drilling equipment, dry docks, boats and barges, except watercraft of every kind and character used in connection with gaming operations.

(aa) Sixty-six and two-thirds percent (66-2/3%) of nuclear fuel and reprocessed, recycled or residual nuclear fuel by-products, fissionable or otherwise, used or to be used in generation of electricity by persons defined as public utilities in Section 77-3-3.

(bb) All growing nursery stock.

(cc) A semitrailer used in interstate commerce.

(dd) All property, real or personal, used exclusively for the housing of and provision of services to elderly persons, disabled persons, mentally impaired persons or as a nursing home, which is owned, operated and managed by a not-for-profit corporation, qualified under Section 501(c)(3) of the Internal Revenue Code, whose membership or governing body is appointed or confirmed by a religious society or ecclesiastical body or any congregation thereof.

(ee) All vessels while in the hands of bona fide dealers as merchandise and which are not being operated upon the waters of this state shall be exempt from ad valorem taxes. As used in this paragraph the terms "vessel" and "waters of this state" shall have the meaning ascribed to such terms in Section 59-21-3.

(ff) All property owned by the authority established by House Bill No. , 1999 Regular Session.

SECTION 19. This act shall take effect and be in force from and after July 1, 1999.