MS HB226

Authorizes issuance of up to $500,000 in state general obligation bonds to assist the Town of Tchula, Mississippi, with repair, maintenance, and/or reconstruction of roads, streets, and bridges

Creates the "2021 Town of Tchula Road Improvements Fund" within the State Treasury to hold and disburse bond proceeds, with unexpended funds and interest earnings remaining in the fund rather than lapsing to the General Fund

Bonds may mature up to 25 years from date of issue and must be issued before July 1, 2025

The State Bond Commission serves as issuing agent with authority to determine bond terms, sale methods, and pricing

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