MS HB1640

Authorizes issuance of state general obligation bonds up to $1,500,000 to fund water system expansion, upgrades, and improvements for the Town of Burnsville, Mississippi.

Creates a special fund called the "2018 Town of Burnsville Water System Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Establishes that the State Bond Commission shall act as the issuing agent, with authority to determine bond terms (interest rates, maturity dates up to 25 years, redemption options) and sale methods.

Pledges the full faith and credit of the State of Mississippi to back the bonds, with payment obligations secured by the State Treasurer from general treasury funds if appropriations are insufficient.

Authorizes issuance of bonds only until July 1, 2022, with any remaining funds after project completion to be applied toward debt service on the bonds.