MS SB2255

Creates a revolving loan program administered by the Mississippi Development Authority (MDA) to provide loans to rural counties (population 30,000 or less) and rural municipalities (population 10,000 or less) for emergency infrastructure repair, maintenance, construction, and improvements.

Establishes the "Rural Counties and Municipalities Emergency Infrastructure Improvements Fund" in the state treasury to hold loan funds, with loan repayments deposited back into the fund.

Sets maximum loan amount at $250,000 per applicant with a maximum term of 5 years.

Authorizes issuance of up to $10,000,000 in state general obligation bonds to fund the loan program, with bonds to be issued by July 1, 2022.

Bonds backed by full faith and credit of the State of Mississippi; proceeds from bond sales transferred to the infrastructure loan fund and disbursed under MDA direction.