MS HB1343

Authorizes issuance of state general obligation bonds up to $330,000 to assist the Town of Meadville, Mississippi with infrastructure and park improvements.

Allocates bond funds as follows: $100,000 for tennis court and related facilities at Meadville Park; $75,000 for electrical system upgrades in downtown area; $75,000 for sewer line repairs between South Edison and South Oak Streets; $80,000 for sewer line repairs on Fourth Street.

Creates a special fund called the "2021 Town of Meadville Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds under the discretion of the Department of Finance and Administration.

Bonds may not be issued after July 1, 2025, and shall mature within 25 years from date of issue, with interest payable semiannually or annually.

Any remaining funds after project completion shall be applied to pay debt service on the bonds; bonds are backed by the full faith and credit of Mississippi and are exempt from state taxation.