MS HB1362

Authorizes issuance of up to $2,000,000 in state general obligation bonds to assist Adams County, Mississippi, with completing the Belwood Levee construction project

Creates the "2021 Belwood Levee Construction Fund" within the State Treasury to hold bond proceeds, with funds disbursed at the discretion of the Department of Finance and Administration

Bonds must be issued by July 1, 2025, and mature within 25 years from the date of issue, with interest rates subject to existing statutory limits

Bonds are backed by the full faith and credit of Mississippi, and bond income is exempt from all state taxation

Any remaining funds after project completion or abandonment must be applied to pay debt service on the bonds