MS HB919

Authorizes issuance of up to $250,000 in state general obligation bonds to assist Bolivar County in constructing sidewalks to elementary and middle schools in Rosedale, Mississippi.

Creates a special "2020 Bolivar County Sidewalk Fund" in the State Treasury to receive bond proceeds and disburse funds for the sidewalk projects under direction of the Department of Finance and Administration.

Grants the State Bond Commission authority to determine bond terms, interest rates (not exceeding statutory limits), maturity dates (up to 25 years), and sale methods, with no bonds to be issued after July 1, 2024.

Pledges the full faith and credit of the State of Mississippi to repay the bonds, with any shortfall to be covered from the State Treasury; bonds are exempt from state taxation and qualify as legal investments for fiduciaries and financial institutions.

Directs remaining funds after project completion to be applied toward bond debt service, and allows investment earnings on the fund to be used for debt service payments.