MS HB1337

Authorizes issuance of state general obligation bonds totaling up to $320,000 to assist the Town of Artesia, Mississippi with construction and improvements to storm water structures and drainage facilities.

Creates a special fund designated the "2021 Town of Artesia Drainage Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for eligible drainage and flooding reduction projects.

Grants the State Bond Commission authority to issue, sell, and manage the bonds with interest rates not exceeding limits in Section 75-17-101, Mississippi Code, with bonds maturing within 25 years of issuance.

Pledges the full faith and credit of the State of Mississippi for bond repayment, with any shortfall in appropriated funds to be covered by the State Treasurer from general treasury funds.

Requires all bonds to be issued by July 1, 2025, and exempts bonds and income from all Mississippi state taxation; effective July 1, 2021.