The Mississippi Port Revitalization Revolving Loan Program ("Port Loan Program"), administered by the Mississippi Development Authority ("MDA") is designed for making loans to state, county, or municipal port authorities ("Local Sponsors") for the improvement of port facilities to promote commerce and economic growth in the state of Mississippi ("State"). Funding for loans to Local Sponsors is derived from the issuance of State bonds or notes. The Port Loan Program was enacted by the State Legislature during the Regular 1992 Session.
6 Miss. Code. R. 1-15.1