MS HB140

Authorizes the State Bond Commission to issue up to $450,000 in general obligation bonds to assist the City of Baldwyn with expansion, improvements, and upgrades to its natural gas system and related infrastructure.

Creates a special fund designated the "2021 City of Baldwyn Natural Gas System Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may mature up to 25 years from issuance, with interest rates not to exceed limits in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2025.

Full faith and credit of the State of Mississippi is pledged to pay bond principal and interest; any deficiency shall be paid from the State Treasury.

Investment earnings on the fund and any remaining project funds after completion shall be applied to pay debt service on the issued bonds.