MS SB2757

Chief executive officers and chief financial officers of governmental entities must obtain a basic understanding of risks and benefits of interest rate agreements before submitting bond financing review forms to the State Auditor.

State Auditor shall establish educational training courses on interest rate agreements that these officials must attend prior to submitting bond financing documents.

Chief executive officers and chief financial officers may obtain professional advice to analyze interest rate agreement risks and benefits as deemed necessary.

State Auditor is authorized to charge and collect fees from training course participants, with fees deposited into the Department of Audit Special Fund.

Governmental entities may pay training fees and travel expenses from their general fund or other available funds not prohibited by law.