MS HB814

Authorizes issuance of $5,000,000 in general obligation bonds by the Mississippi Soil and Water Conservation Commission to fund the Mississippi Watershed Repair and Rehabilitation Cost-Share Program

Bonds must be issued by July 1, 2022, with a maximum maturity of 25 years and interest rates not exceeding limits set in Mississippi Code Section 75-17-101

Proceeds from bond sales shall be deposited into a special fund and used exclusively for repairing, rehabilitating, or removing water impoundment structures built under federal Public Law 534 and Public Law 566

Bonds are general obligations of the State of Mississippi backed by full faith and credit, with the State Treasurer authorized to issue warrants for principal and interest payments from the State Treasury if legislative appropriations are insufficient

Amends Section 51-37-3 to authorize the commission to receive and expend bond proceeds and establishes eligibility criteria for watershed districts, including certification of structural deficiencies and requirement for local financial or in-kind matching funds