MS HB1646

Authorizes issuance of state general obligation bonds up to $1,000,000 to assist the City of Clinton, Mississippi with repairs, resurfacing, and improvements to roads and streets.

Creates a special fund designated "2020 City of Clinton Road and Street Improvements Fund" within the State Treasury to hold and disburse bond proceeds for authorized road and street projects.

Grants the State Bond Commission authority to issue, sell, and manage the bonds with terms up to 25 years from date of issue and interest rates not to exceed limits under Mississippi Code Section 75-17-101.

Specifies that bonds are general obligations of the State of Mississippi backed by full faith and credit of the state, with remaining funds after project completion applied to debt service on the bonds.

Establishes July 1, 2024 as the deadline for issuing bonds under this authorization and provides the act takes effect July 1, 2020.