MS HB619

Authorizes issuance of state general obligation bonds up to $500,000 to assist the City of Jackson with improvements to Eubanks Creek, related structures (bridges and culverts), and drainage improvements to reduce flooding risk.

Creates a special fund called the "2021 City of Jackson Eubanks Creek Improvements Fund" within the State Treasury to receive and disburse bond proceeds for the authorized projects.

Grants the State Bond Commission authority to issue and sell the bonds, determine sale methods, set interest rates (not exceeding statutory limits), and establish terms with maturity dates not to exceed 25 years from date of issue.

Provides that any funds remaining after project completion shall be applied to pay debt service on the bonds, and investment earnings on fund amounts shall be used for debt service.

Establishes that bonds are general obligations of the State of Mississippi backed by full faith and credit, with all bonds exempt from state taxation, and authorizes no bond issuance after July 1, 2025.