MS SB2369

Establishes a revolving loan program administered by the Mississippi Development Authority to provide emergency infrastructure loans to rural counties (population ≤30,000) and rural municipalities (population ≤10,000).

Creates the "Rural Counties and Municipalities Emergency Infrastructure Improvements Fund" in the state treasury to hold loan funds, with repayments and investment earnings deposited back into the fund.

Authorizes loans up to $250,000 per applicant with maximum five-year terms for emergency repair, maintenance, construction, reconstruction, upgrades, and improvements to infrastructure projects.

Authorizes issuance of $10,000,000 in state general obligation bonds to capitalize the loan fund, with bond issuance authority expiring July 1, 2023 and bonds maturing within 25 years.

Bonds backed by full faith and credit of the State of Mississippi, exempt from state taxation, and eligible as legal investments for trustees, fiduciaries, banks, and insurance companies.