MS HB732

Authorizes issuance of $9,550,000 in state general obligation bonds to provide matching funds for federal funds for the Water Pollution Control Revolving Fund.

Bonds may be issued by the State Bond Commission with maturity dates not exceeding 25 years, at interest rates not to exceed limits in Mississippi Code Section 75-17-101, and may be redeemed before maturity.

Amends Section 49-17-85 to allow interest and investment earnings on money in the Water Pollution Control Revolving Fund to be used to pay principal and interest on bonds issued under this act.

Bond proceeds shall be deposited into the Water Pollution Control Revolving Fund and used solely for water pollution control projects; bonds are general obligations of Mississippi with full faith and credit pledged for payment.

Act takes effect July 1, 2018.