MS HB1706

Authorizes the City of Oxford, Mississippi to issue special assessment bonds to finance improvements including streets, highways, sidewalks, water mains, sanitary sewers, and drainage systems, with costs assessed against benefited properties.

Requires the Board of Aldermen to adopt a resolution declaring improvements necessary, publish notice for three successive weeks, mail notice to affected property owners, and hold a public hearing at least 15 days after first publication before proceeding.

Pledges the city's full faith, credit and resources plus special assessments from benefited properties to secure bond repayment; establishes a Special Assessment Bond Fund for principal and interest payments.

Allows property owners to pay special assessments in full within 90 days or elect to pay in up to 20 installments with interest, due annually with property taxes; permits early payoff with all accrued interest.

Authorizes bonds with maturity up to 20 years, permits interim financing at market rates pending permanent bond issuance, and exempts bonds from state taxation (except inheritance and gift taxes) while making them legal investments for banks and insurance companies.