MS HB1235

Authorizes issuance of up to $500,000 in state general obligation bonds to fund infrastructure improvements in Claiborne, Franklin, Jefferson, and Warren Counties, Mississippi.

Creates the "2021 Claiborne, Franklin, Jefferson and Warren Counties Infrastructure Improvements Fund" with $125,000 allocated to each county for infrastructure costs.

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

No bonds may be issued after July 1, 2025; any remaining fund balance after project completion shall be applied to bond debt service.

Bonds are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, banks, and insurance companies.