6 Miss. Code. R. 1-8.4 - Project Requirements
A. The Applicant
must be an incorporated municipality or a county.
B. The Applicant may not purchase an existing
building or facility for more than the appraised value.
C. The Applicant may not acquire buildings or
facilities from individuals, companies, or corporations with RAIL funds, and
subsequently lease them to the seller or previous owner.
D. The Applicant or railroad corporation will
be required to retain title on all freight rail service improvements until the
loan has been repaid.
E. Any
interest earned on the RAIL funds must be used on the project or returned to
the state.
Notes
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