MS HB645

Authorizes issuance of up to $4,000,000 in state general obligation bonds to assist the City of Jackson, Mississippi, with repairs, upgrades, and improvements to the city's water and sewer systems

Creates the "2021 City of Jackson Water and Sewer Systems Improvements Fund" within the State Treasury to hold and disburse bond proceeds, with the Department of Finance and Administration controlling disbursements

Bonds must be issued before July 1, 2025, and must mature within 25 years from the date of issue

Bonds are backed by the full faith and credit of the State of Mississippi, with the State Treasurer authorized to pay any deficiency from general treasury funds if appropriations are insufficient

Bonds and their income are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies