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MS SB2968
Bill
Status
Failed
2/27/2019
Primary Sponsor
Angela Turner-Ford
Click for details
AI Summary
- Authorizes issuance of up to $1,000,000 in state general obligation bonds to assist the City of Columbus, Mississippi with costs of paving streets and repairing sidewalks and gutters.
- Creates a special fund called the "2019 City of Columbus Infrastructure Improvement Fund" within the State Treasury to receive bond proceeds and disburse funds for eligible projects.
- Bonds may not be issued after July 1, 2023 and shall mature within 25 years from date of issue at interest rates not exceeding limits set by Mississippi Code Section 75-17-101.
- Pledges the full faith and credit of the State of Mississippi to guarantee bond repayment; any shortfall in appropriated funds shall be covered by the State Treasurer from unappropriated state funds.
- Remaining funds after project completion shall be applied to pay debt service on the bonds, and bond income is exempt from all taxation in Mississippi.
Legislative Description
Bonds; authorize the issuance of general obligation bonds to assist City of Columbus in certain infrastructure improvements.
Last Action
Died In Committee
2/27/2019
Committee Referrals
Finance2/12/2019
Full Bill Text
No bill text available