MS SB3006

Authorizes issuance of up to $200,000 in state general obligation bonds to assist the City of Laurel, Mississippi with flood control costs in the Queensboro neighborhood.

Creates a special fund called the "2020 City of Laurel Queensboro Neighborhood Flood Control Fund" within the State Treasury to receive bond proceeds and disburse funds for the flood control project.

Grants the State Bond Commission authority to prescribe bond terms, advertise and accept bids, issue and sell bonds, and handle all related issuance and sale costs using bond proceeds.

Specifies bonds shall mature within 25 years, bear interest rates not exceeding limits in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

Requires all bonds to be issued by July 1, 2024, with any remaining fund balance after project completion or abandonment to be applied toward bond debt service.