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MS HB416
Bill
Status
3/4/2014
Primary Sponsor
Mark Formby
Click for details
AI Summary
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Extends the Mississippi Home Corporation's authority to annually issue $350,000,000 in bonds through June 30, 2019 (previously set to expire June 30, 2014).
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Provides that beginning July 1, 2019, the corporation may only issue bonds up to the aggregate principal amount outstanding on July 1, 2017, effectively capping future bond issuance.
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Excludes from bond limits any refunding bonds, conduit issuer bonds, and bonds issued for Hurricane Katrina-related purposes.
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Maintains existing provisions regarding bond security, credit enhancements, and validation procedures through the First Judicial District of Hinds County.
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Takes effect July 1, 2014.
Legislative Description
Mississippi Home Corporation; extend reverter on authority to issue certain amount of bonds.
Last Action
Died In Committee
3/4/2014