Loading chat...
MS HB1435
Bill
Status
Failed
2/23/2011
Primary Sponsor
Percy Watson
Click for details
AI Summary
- Increases the authorized amount of general obligation bonds for the Mississippi Industry Incentive Financing Revolving Fund by $40,000,000, raising the total authorization to $260,000,000
- Bonds may be issued by the State Bond Commission at its discretion upon resolution by the Mississippi Development Authority declaring necessity for issuance
- Bond proceeds must be deposited into the Mississippi Industry Incentive Financing Revolving Fund and used solely for purposes authorized under Section 57-1-221
- Bonds are general obligations of Mississippi with full faith and credit of the state pledged for repayment; bonds mature no later than 25 years from issue date and cannot be issued after July 1, 2014
- Bonds are exempt from all taxation in Mississippi and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies
Legislative Description
Bonds; increase amount authorized to provide funds for the Mississippi Industry Incentive Financing Revolving Fund.
Last Action
Died In Committee
2/23/2011
Full Bill Text
No bill text available