MS SB2948

Authorizes issuance of state general obligation bonds not to exceed $30,000,000 to assist Hinds County with designing, constructing, and implementing a regional wastewater treatment center and related infrastructure for southwestern Hinds County.

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

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2023.

Bonds are backed by the full faith and credit of the State of Mississippi, with the State Treasurer required to pay any deficiency from unappropriated state funds if legislative appropriations are insufficient.

Bonds and income from them are exempt from all taxation in Mississippi and may be validated in Chancery Court of the First Judicial District of Hinds County.