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MS SB2585
Bill
AI Summary
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Increases the maximum amount of state general obligation bonds for the Local Governments and Rural Water Systems Improvements Revolving Loan Fund from $24,743,000 to $26,493,000
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Bond proceeds of $26,493,000 shall be deposited in the revolving fund and $5,000,000 in the emergency fund for water system construction and repair projects
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Authorizes the State Bond Commission to determine the method for bond sales, including sealed bid public sales or negotiated sales
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Bonds are general obligations of Mississippi with the state's full faith and credit pledged for payment; exempted from state taxation
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Bond proceeds may only be used for purposes established in Section 41-3-16, including costs incident to issuance and sale of bonds
Legislative Description
Bonds; increase the amount that may be issued for the Local Governments and Rural Water Systems Improvements Revolving Loan Fund.
Last Action
Died In Committee
2/24/2010