MS SB2984

Authorizes the issuance of up to $3,000,000 in state general obligation bonds to assist the City of Gautier, Mississippi, with completion of its nanotechnology filtration water treatment plant.

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

Establishes that remaining funds after project completion shall be applied to debt service on the bonds, and any investment earnings on the fund shall be used for debt service payments.

Grants the State Bond Commission authority to issue, prescribe terms, determine sale method, and manage all aspects of the bond issuance with no bonds to be issued after July 1, 2023.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of principal and interest, with bonds exempt from state taxation and maturity not to exceed 25 years from issuance.