State Codes and Statutes
Statutes > Mississippi > Title-35 > 7 > 35-7-19§ 35-7-19. Acquisition by board of leasehold interests in certain lands for resale to veterans.
In addition to and supplemental to any other authority vested in the Veterans Home Purchase Board, the board is authorized and empowered to purchase a leasehold interest in sixteenth section lands, and leasehold interests in other lands owned by the state or a department thereof, for resale of such interest in land to a qualified veteran for a home when the duration of such leasehold interest exceeds the amortization period of the board's loan by not less than fourteen (14) years or contains automatic renewal to the leaseholder and lienholders. The purchase price of the leasehold interest in the sixteenth section lands and leasehold interest in other lands owned by the state or a department thereof shall not exceed the maximum purchase price as otherwise provided by law. However, the veteran acquiring a home under the provisions of this chapter shall be given the right to advance a sum of money on the total purchase price of the leasehold interest of the home above the maximum purchase price to the board. Wherever applicable, all other provisions of statutes governing said board shall apply, and the board may prescribe and adopt needful and necessary rules and regulations to administer this section.
Sources: Codes, 1942, § 7520.1; Laws, 1966, ch. 537, § 1; Laws, 1970, ch. 456, § 1; Laws, 1987, ch. 425, § 9, eff from and after May 1, 1987.
