MS HB901

Authorizes the issuance of state general obligation bonds up to $115,000 to assist the City of Baldwyn, Mississippi with replacement, upgrades, and improvements to a water system line and related infrastructure along CR 6105.

Creates a special fund designated "2019 City of Baldwyn Water System Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the water system project.

Bonds may mature up to 25 years from date of issue and cannot be issued after July 1, 2023; interest rates are subject to Mississippi Code Section 75-17-101 limits.

Bonds are backed by the full faith and credit of the State of Mississippi; principal and interest are payable from state funds, and bond income is exempt from all Mississippi taxation.

Requires the State Bond Commission to act as issuing agent, manage bond sales through public bidding or negotiation, and transfer proceeds to the special fund for disbursement by the Department of Finance and Administration.