MS HB91

Authorizes issuance of up to $500,000 in state general obligation bonds to assist the City of Jackson with improvements to Eubanks Creek and related structures such as bridges and culverts for drainage improvement and flood risk reduction.

Creates a special fund designated the "2020 City of Jackson Eubanks Creek Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects under the Department of Finance and Administration's discretion.

Grants the State Bond Commission authority to issue and sell the bonds, determine the sale method, and manage all aspects of bond issuance and delivery; no bonds may be issued after July 1, 2024.

Provides that bonds are general obligations of Mississippi with full faith and credit pledged by the state; bonds mature within 25 years, are tax-exempt, and qualify as legal investments for trustees and fiduciaries.

Directs that any remaining funds after project completion or abandonment shall be applied to bond debt service, and investment earnings on the fund shall also be used for debt service payments.