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MS HB1597
Bill
Status
2/27/2019
Primary Sponsor
Debra Gibbs
Click for details
AI Summary
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Authorizes the issuance of state general obligation bonds up to $4,600,000 to assist the City of Ridgeland in paying costs for extending Lake Harbour Drive from U.S. Highway 51 to Highland Colony Parkway.
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Creates a special fund designated "2019 City of Ridgeland Lake Harbour Drive Extension Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.
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Bonds may not be issued after July 1, 2023, and shall mature no later than 25 years from the date of issue, with the State Bond Commission serving as the issuing agent.
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Bonds are backed by the full faith and credit of the State of Mississippi, and principal and interest are exempt from state taxation.
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Effective July 1, 2019.
Legislative Description
Bonds; authorize issuance to assist City of Ridgeland with extension of Lake Harbour Drive.
Last Action
Died In Committee
2/27/2019