MS HB1575

Authorizes issuance of up to $5,700,000 in state general obligation bonds to fund water system, sewer system, roads, rails, and related infrastructure improvements at the Perry County Industrial Park in New Augusta, Mississippi.

Creates the "2020 Perry County Industrial Park Improvements Fund" as a separate account within the State Treasury to receive bond proceeds and disburse funds for the authorized projects.

Grants the State Bond Commission authority to issue, sell, and manage the bonds, which may be sold through public bidding or negotiated sale and shall mature within 25 years.

Provides that bonds are general obligations backed by the full faith and credit of the State of Mississippi, with income from the bonds exempt from state taxation and eligible as legal investments for trustees and financial institutions.

Sets July 1, 2024 as the deadline for issuing bonds; remaining funds after project completion shall be applied to bond debt service.