MS HB1297

Authorizes issuance of $2,870,000 in state general obligation bonds to provide matching funds for federal funds for the Water Pollution Control Revolving Fund

Bonds may have a maximum maturity of 25 years from date of issue and must be sold by the State Bond Commission, which determines interest rates, sale method, and other terms

Interest and investment earnings on money in the Water Pollution Control Revolving Fund shall be used to pay principal and interest on the bonds as they become due

Bonds are exempt from all state taxation and constitute legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies in Mississippi

Amends Section 49-17-85 of the Mississippi Code to add this bond authorization to the list of bonds whose debt service may be paid from the Water Pollution Control Revolving Fund