MS HB428

Authorizes issuance of up to $30,000,000 in state general obligation bonds to assist Hinds County with designing, constructing, and implementing a regional wastewater treatment center for the Byram-Clinton corridor area.

Creates the "2019 Hinds County Wastewater Treatment Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs under the Department of Finance and Administration's discretion.

Bonds are general obligations of Mississippi with full faith and credit pledged by the state; principal and interest are payable over a maturity period not to exceed 25 years.

No bonds may be issued after July 1, 2023; any remaining funds after project completion shall be applied to pay debt service on the bonds.

Bonds and income derived from them are exempt from all Mississippi state taxation and are legal investments for trustees, fiduciaries, banks, and insurance companies in the state.