MS HB312

Authorizes issuance of up to $2,000,000 in state general obligation bonds to assist Holmes County, Mississippi with road, street, and county building improvements.

Creates a special fund designated "2019 Holmes County Roads and Buildings Improvements Fund" within the State Treasury to receive and disburse bond proceeds for eligible projects.

Bonds may be issued at any time until July 1, 2023, with maturity dates not exceeding 25 years from issuance and interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

State Bond Commission acts as issuing agent and has discretion to determine bond terms, sale method, and pricing; all bond proceeds held in the special fund are disbursed by the Department of Finance and Administration.

Bonds are full faith and credit obligations of the State of Mississippi, exempt from state taxation, and any remaining funds after project completion shall be applied to pay debt service on the bonds.