Overview

Overview. Mississippi Code Section 69-2-13(5) directs the Mississippi Development Authority (MDA) “to develop a program which will assist minority business enterprises by guaranteeing bid, performance, and payment bonds which such minority businesses are required to obtain in order to contract with federal and state agencies or political subdivisions of the state.” A Loss Reserve Fund of $2,000,000 was appropriated with authority for an additional $1,000,000 to guaranty private surety bonds guaranteed under the Minority Surety Bond Guaranty Program.