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MS HB1636
Bill
Status
Failed
2/21/2018
Primary Sponsor
Jarvis Dortch
Click for details
AI Summary
- Authorizes issuance of up to $100,000,000 in state general obligation bonds, with issuance deadline of July 1, 2022
- Allocates bond proceeds as follows: 40% for Capitol Complex Improvement District projects, 40% for City of Jackson water and sewer system repairs and upgrades, and 20% for Jackson Public School District construction and facility improvements
- Creates special fund to receive bond proceeds and disburse monies for authorized projects, with unexpended amounts to be applied toward bond debt service upon project completion
- Amends Section 29-5-215 to require that at least 85% of Capitol Complex Improvement District Project Fund deposits be used to repay bonds issued under this act, with remaining funds used for improvement projects within the district
- Bonds are general obligations of the State of Mississippi backed by full faith and credit, with principal and interest payable primarily from the Capitol Complex Improvement District Project Fund
Legislative Description
Bonds; authorize issuance for Capitol Complex Improvement District and City of Jackson projects.
Last Action
Died In Committee
2/21/2018
Committee Referrals
Ways and Means2/15/2018
Full Bill Text
No bill text available