Mississippi § 43-33-745 - Purpose for creation of corporation; covenants; immunity from taxation.
Full text of Mississippi Mississippi Code of 1972 Annotated § 43-33-745 — Purpose for creation of corporation; covenants; immunity from taxation., with citation guidance and answers to common questions.
§ 43-33-745. Purpose for creation of corporation; covenants; immunity from taxation.
It is hereby determined that the creation of the corporation is in all respects for the benefit of the people of the state, for the improvement of their health and welfare and for the protection of the economy, and that such purposes are public purposes and the corporation will be performing an essential governmental function in the exercise of the powers conferred upon the corporation by this article. In consideration of the acceptance of and payment for the bonds and notes issued by the corporation pursuant to this article, the state hereby covenants with the purchasers and all subsequent holders and transferees of such bonds and notes that the income from such bonds and notes shall at all times be free from taxation, except for estate or gift taxes and taxes on transfers. The corporation may issue bonds or notes designated as taxable bonds or notes, and any immunity to taxation by the United States government of income from bonds or notes so designated is hereby waived. The income and operations of the corporation shall be exempt from taxation of every kind and nature.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 43-33-745
What does Mississippi Code of 1972 Annotated § 43-33-745 cover?
Section 43-33-745 ("Purpose for creation of corporation; covenants; immunity from taxation.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 43-33-745?
A common citation format is "Mississippi Code of 1972 Annotated § 43-33-745" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 43-33-745 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.