MS SB2256

Authorizes issuance of up to $30,000,000 in state general obligation bonds to assist Hinds County with designing, constructing, and implementing a regional wastewater treatment center and related infrastructure for southwestern Hinds County.

Creates the "2020 Hinds County Wastewater Treatment Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds under the Department of Finance and Administration's discretion.

Bonds may be issued until July 1, 2024, with maturity periods not exceeding 25 years and interest rates subject to Mississippi Code Section 75-17-101.

Full faith and credit of the State of Mississippi is pledged to pay bond principal and interest; any State Treasury funds may be used to cover deficiencies if legislative appropriations are insufficient.

Bonds are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies; unspent fund amounts and investment earnings must be applied to debt service after project completion.