MS HB1428

Increases the maximum principal amount of state general obligation bonds authorized under the Economic Development Highway Act by $20,000,000, from $307,500,000 to $327,500,000.

Extends until June 30, 2013 the provision allowing the State Bond Commission to negotiate the sale of bonds; after July 1, 2013, bonds must be sold on sealed bids at public sale.

Modifies Section 65-4-29 to require bonds sold after July 1, 2013 be sold at no less than par value plus accrued interest to the delivery date.

Allows the first interest coupon on bonds issued after July 1, 2013 to cover any period not exceeding one year, instead of requiring semiannual or annual payments.

Changes Section 65-4-33 effective July 1, 2013 to require notice of sale for all bonds, removing the language limiting notice requirements to sealed bid public sales only.