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MS HB1351

Bill

Official Source

Status

Engrossed

2/24/2021

Primary Sponsor

John Lamar

Click for details

Origin

House of Representatives

2021 Regular Session

AI Summary

  • Increases the maximum amount of state general obligation bonds authorized for the Local Governments and Rural Water Systems Improvements Revolving Loan Fund from $36,843,000.00 to $40,043,000.00
  • Bond proceeds shall be deposited in the revolving fund and $5,000,000.00 in the emergency fund
  • Bonds may mature up to 25 years from issuance and shall bear interest rates not exceeding limits set in Section 75-17-101
  • State Bond Commission shall serve as issuing agent and may sell bonds through sealed bids at public sale or negotiate sales
  • Bonds are general obligations of the State of Mississippi with full faith and credit pledged for payment; proceeds used solely for water systems construction and repair
  • Takes effect July 1, 2021

Legislative Description

Bonds; increase amount that may be issued for the Local Governments and Rural Water Systems Improvements Revolving Loan Fund.

Last Action

Tabled

3/19/2021

Committee Referrals

Finance3/9/2021
Ways and Means2/4/2021

Full Bill Text

No bill text available