MS HB1035

Authorizes issuance of up to $80,000 in state general obligation bonds to assist the City of Natchez with costs of cutting and removing trees and vegetation to inspect and preserve the Natchez Bluff retaining wall and related structures.

Creates a special "2020 Natchez Bluff Retaining Wall Fund" within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds may mature up to 25 years from issue date with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2024.

Bonds are backed by the full faith and credit of the State of Mississippi, with the State Treasurer authorized to pay principal and interest from any available state funds if appropriated amounts are insufficient.

Authorizes the State Bond Commission to act as issuing agent, determine sale method, prescribe bond forms, and handle all costs associated with issuance and sale of the bonds.