MS HB869

Authorizes issuance of state general obligation bonds not to exceed $30,000,000 to assist Hinds County, Mississippi with designing, constructing, and implementing a regional wastewater treatment center and related infrastructure for the Byram-Clinton corridor area.

Creates a special fund designated "2018 Hinds County Wastewater Treatment Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the wastewater project under direction of the Department of Finance and Administration.

Bonds must be issued by July 1, 2022, with maturity not exceeding 25 years from date of issue and interest rates subject to Section 75-17-101, Mississippi Code of 1972.

State Bond Commission serves as issuing agent with authority to prescribe bond form, determine sale method, advertise for bids, and conduct public or negotiated sales.

Bonds are general obligations of the State of Mississippi backed by full faith and credit of the state, with income from bonds exempt from state taxation and bonds classified as legal investments for fiduciaries and financial institutions.