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MS HB1494
Bill
Status
Failed
2/21/2018
Primary Sponsor
Jeffrey Smith
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AI Summary
- Authorizes issuance of $11,000,000 in state general obligation bonds for the ACE Fund created under Section 57-1-16
- Bonds cannot be issued after July 1, 2022, with a maximum maturity of 25 years from date of issue
- State Bond Commission acts as issuing agent and may sell bonds through sealed bids at public sale or negotiate private sale
- Bonds are backed by full faith and credit of Mississippi; if appropriated funds are insufficient, State Treasurer must pay deficiency from general treasury
- Bond proceeds and income are exempt from all state taxation and proceeds shall be used solely for purposes authorized under Section 57-1-16
Legislative Description
Bonds; authorize issuance for the ACE Fund.
Last Action
Died In Committee
2/21/2018
Committee Referrals
Ways and Means1/15/2018
Full Bill Text
No bill text available