MS HB1129

Amends Section 31-18-7, Mississippi Code of 1972, regarding variable rate refunding bonds issued by the State Bond Commission.

Deletes the requirement that the State Bond Commission must find that variable rate refunding bonds will result in overall net present value savings to maturity of not less than 2% of the bonds being refunded.

Maintains existing authority for the state to refund outstanding bonds through variable rate refunding bonds regardless of maturity status.

Maintains existing provisions allowing variable rate refunding bonds to be secured by the same source as original bonds or other lawfully pledged security.

Takes effect July 1, 2019.