MS HB900

Authorizes issuance of state general obligation bonds not to exceed $450,000 to assist the City of Baldwyn, Mississippi, with expansion and improvements to its natural gas system and related infrastructure.

Creates a special fund called the "2019 City of Baldwyn Natural Gas System Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may mature up to 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 full faith and credit of the state, with principal and interest payable semiannually or annually.

Income from the bonds and the bonds themselves are exempt from all taxation in Mississippi and are legal investments for trustees, fiduciaries, banks, and insurance companies.