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MS SB2525
Bill
AI Summary
- Increases authorized state general obligation bonds for the Local Governments and Rural Water Systems Improvements Revolving Loan Fund from $28,843,000.00 to $30,143,000.00
- Bond proceeds of $30,143,000.00 shall be deposited in the revolving fund and $5,000,000.00 in the emergency fund for water system construction and repair projects
- State Bond Commission authorized to issue bonds with terms of up to 25 years, determine sale method, and manage all aspects of bond issuance and sale
- Full faith and credit of the State of Mississippi pledged to pay bond principal and interest; if legislative appropriations are insufficient, state treasurer shall pay from general treasury funds
- Bonds are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies
Legislative Description
Bonds; increase amount that may be issued for the Local Governments and Rural Water Systems Improvements Revolving Loan Fund.
Last Action
Died In Committee
3/28/2012
Full Bill Text
No bill text available