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MS HB1568
Bill
Status
3/28/2019
Primary Sponsor
Jeffrey Smith
Click for details
AI Summary
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Authorizes issuance of $7,940,000 in state general obligation bonds to provide matching funds for federal funds in the Water Pollution Control Revolving Fund.
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Bonds will have a maximum maturity of 25 years, bear interest rates not to exceed limits in Section 75-17-101, and be sold through the State Bond Commission.
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Principal and interest payments on bonds shall be paid using interest and investment earnings from the Water Pollution Control Revolving Fund, with any deficiency paid from the State Treasury.
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Amends Section 49-17-85 to authorize interest and investment earnings on Water Pollution Control Revolving Fund money to be used to pay debt service on bonds authorized by this act.
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Effective July 1, 2019.
Legislative Description
Bonds; authorize issuance for the Water Pollution Control Revolving Fund.
Last Action
Approved by Governor
3/28/2019