MS SB2136

Authorizes the issuance of up to $2,000,000 in state general obligation bonds to assist the Sand Creek Wastewater Authority in designing, constructing, and implementing a regional wastewater treatment center and related infrastructure in Northeast Mississippi.

Creates the "2020 Sand Creek Wastewater Treatment Project Fund" as a separate special fund within the State Treasury to receive and disburse bond proceeds for project costs.

Bonds may not be issued after July 1, 2024, and shall mature within twenty-five (25) years from the date of issue with interest rates not to exceed limits set in Mississippi Code Section 75-17-101.

Pledges the full faith and credit of the State of Mississippi for bond payment; if legislative appropriations are insufficient, the State Treasurer shall pay any deficiency from unappropriated funds in the State Treasury.

Bonds are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies; any remaining funds after project completion shall be applied to pay debt service on the bonds.