MS HB836

Authorizes issuance of $10,000,000 in state general obligation bonds to provide funds for the Small Municipalities and Limited Population Counties Fund, with bonds to be issued by July 1, 2014.

Bonds are general obligations of Mississippi with full faith and credit pledge; principal and interest payments backed by state funds if appropriations are insufficient.

Allows Mississippi Development Authority to use up to 3% of bond proceeds to reimburse reasonable actual and necessary administrative costs related to projects funded through the program.

Establishes grant program for small municipalities (population 10,000 or less) and limited population counties (population 30,000 or less) with maximum grant of $250,000 per project.

Eligible projects include highways, streets, bridges, sidewalks, utilities, airfields, airports, equipment acquisition, and real property development or improvements.