MS HB1460

Authorizes issuance of $1,000,000 in state general obligation bonds to fund the Small Municipalities and Limited Population Counties Fund, with bonds to be issued no later than July 1, 2020

Grants of up to $250,000 per grant period are available to municipalities with populations of 10,000 or less and counties with populations of 30,000 or less

Eligible projects include highways, streets, bridges, sidewalks, utilities, airports, equipment acquisition, and real property development or improvements

Up to 3% of bond proceeds may be used by the Mississippi Development Authority to reimburse administrative costs related to project assistance

Bonds may mature up to 25 years from date of issue, are tax-exempt in Mississippi, and are backed by the full faith and credit of the state