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MS SB2924

Bill

Status

Passed

3/29/2011

Primary Sponsor

Dean Kirby

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Origin

Senate

2011 Regular Session

AI Summary

  • Amends Section 43-35-21 of Mississippi Code to allow municipalities to sell urban renewal bonds at private sale under terms determined by the municipality.

  • Adds private sale as an option alongside existing methods of public sale or exchange, while maintaining the requirement that bonds sold to federal government be at not less than par value.

  • Bonds issued for urban renewal projects remain exempt from constitutional debt limitations and all taxes on the bonds and interest earned.

  • Takes effect immediately upon passage.

Legislative Description

Urban Renewal Law; authorize bonds issued under to be sold at private sale.

Last Action

Approved by Governor

3/29/2011

Full Bill Text

No bill text available