MS HB1236

Authorizes issuance of up to $80,000 in state general obligation bonds to assist the City of Port Gibson, Mississippi with repairs, reconstruction, upgrades, and other improvements to city roads and streets

Creates the "2021 City of Port Gibson Road Improvements Fund" within the State Treasury to hold and disburse bond proceeds, with unexpended amounts and interest earnings remaining in the fund rather than lapsing to the General Fund

Bonds may not be issued after July 1, 2025, and must mature within 25 years from the date of issue

Bonds are backed by the full faith and credit of the State of Mississippi, and both the bonds and income from them are exempt from all state taxation

The State Bond Commission is authorized to determine the form, method of sale, and terms of the bonds, including whether to sell through public sealed bids or negotiated sale