MS HB239

Authorizes issuance of up to $2,000,000 in state general obligation bonds to assist Holmes County with road, street, and county building improvements.

Creates the "2021 Holmes County Roads and Buildings Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for eligible projects.

Bonds may be issued at any time until July 1, 2025, with maturity not exceeding 25 years from date of issue and interest rates not to exceed limits in Mississippi Code Section 75-17-101.

Full faith and credit of the State of Mississippi is pledged to secure the bonds; any shortfall in appropriated funds for debt service shall be paid from the State Treasury.

Bond proceeds shall be used solely for costs associated with repair, rehabilitation, and construction of county roads and streets, and improvements to county buildings and facilities.