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MS SB2923

Bill

Status

Passed

3/16/2011

Primary Sponsor

Dean Kirby

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Origin

Senate

2011 Regular Session

AI Summary

  • Extends the repeal date for provisions allowing the State Bond Commission to negotiate bond sales (instead of sealed bids only) from June 30, 2011 to July 1, 2014 for bonds under the Mississippi Major Economic Impact Act, Economic Development Highway Act, and Emerging Crops Fund.

  • Removes the requirement to publish notice of bond sales in newspapers or financial journals with large national circulation; instead requires publication only in Jackson newspapers when bonds are sold on sealed bids.

  • Prohibits issuance of certain bonds under the Mississippi Major Economic Impact Act after June 30, 2011, specifically for projects defined in Section 57-75-5(f)(xviii) capped at $96,000,000.

  • Extends bond issuance deadlines for several economic development and infrastructure projects, including Deer Island acquisition ($10 million), Grand Gulf Access Road ($4 million), community group homes and crisis intervention facilities ($4.1 million), and Highway 6/Jackson Avenue interchange (no longer limited to annual issuance caps).

  • Grants the State Bond Commission discretion to negotiate bond sales or use sealed bids at public sale for various state capital projects and economic development initiatives authorized under multiple state statutes.

Legislative Description

Bonds; remove repeal date on provisions that allow the Bond Commission to negotiate the sale of bonds.

Last Action

Approved by Governor

3/16/2011

Full Bill Text

No bill text available