MS SB2483

Authorizes issuance of up to $2,000,000 in state general obligation bonds to assist Adams County, Mississippi in paying costs related to completion of the Belwood Levee.

Creates a special "2019 Belwood Levee Construction Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds shall mature within 25 years from issuance, bear interest at rates not to exceed limits in Mississippi Code Section 75-17-101, and may be sold through sealed bids at public sale or private negotiation.

Full faith and credit of the State of Mississippi is pledged to pay bond principal and interest; any shortfall shall be paid from the State Treasury from unappropriated funds.

Bonds may not be issued after July 1, 2023; takes effect July 1, 2019.