MS HB421

Authorizes issuance of $3,990,000 in state general obligation bonds to provide matching funds for federal funds for the Water Pollution Control Revolving Fund

Bonds may have a maturity of up to 25 years from date of issue and must comply with interest rate limits set in Section 75-17-101 of Mississippi Code

Interest and investment earnings on money in the Water Pollution Control Revolving Fund shall be used to pay principal and interest on the bonds as they become due

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, with any deficiency to be paid from the State Treasury

Amends Section 49-17-85 to add this act to the list of bond issuances for which fund earnings may be used for debt service payments