MS HB1679

Authorizes issuance of state general obligation bonds not to exceed $500,000 to assist the City of Columbia, Mississippi with repairs, upgrades, and improvements to its water and sewer systems and related infrastructure.

Creates the "2019 City of Columbia Water and Sewer Infrastructure Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds shall mature within 25 years from date of issue and cannot be issued after July 1, 2023.

Bonds are general obligations of the State of Mississippi backed by the state's full faith and credit; any remaining fund balance after project completion shall be applied to debt service on the bonds.

Bonds and income therefrom are exempt from all taxation in Mississippi and may be validated in Chancery Court of the First Judicial District of Hinds County.