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MS HB1607
Bill
Status
Failed
2/27/2019
Primary Sponsor
David Baria
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AI Summary
- Authorizes issuance of state general obligation bonds not to exceed $2,000,000 to fund dredging costs at Port Bienville in Hancock County, Mississippi.
- Creates a "2019 Port Bienville Dredging Fund" within the State Treasury to receive bond proceeds and disburse funds for dredging project costs under direction of the Department of Finance and Administration.
- Bonds may be issued by July 1, 2023, with maturity not to exceed 25 years and interest rates subject to Section 75-17-101, Mississippi Code of 1972.
- Pledges the full faith and credit of the State of Mississippi for bond payment, making them general obligations backed by the State Treasury if appropriated funds are insufficient.
- Bonds and income are exempt from all Mississippi state taxation and any unexpended fund amounts plus investment earnings shall be applied to debt service after project completion.
Legislative Description
Bonds; authorize issuance to assist in paying costs associated with dredging at Port Bienville in Hancock County.
Last Action
Died In Committee
2/27/2019
Committee Referrals
Ways and Means2/13/2019
Full Bill Text
No bill text available