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1.1 General. Established for the MS Regional Housing Authority and South Mississippi Housing and Development Corporation (SMHD) (hereinafter, "the Agency") by Action of the Agency Board of Commissioners (Board) on October 27, 2022 this Procurement Policy (Policy) complies with the Annual Contributions Contract (ACC) between the Agency and the United States Department of Housing and Urban Development (HUD), Federal Regulations at 2 CFR §200.317 through §200.326, Procurement Standards, the procurement standards of the Procurement Handbook for Public Housing Authorities (PHAs), HUD Handbook 7460.8, REV 2, and applicable State and Local laws.