MS SB2443

Authorizes the State Bond Commission to issue up to $500,000 in general obligation bonds to assist the West Jackson County Utility District with water tank construction costs.

Creates a special fund designated "2021 West Jackson County Utility District Water Tank Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

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

Bonds are backed by the full faith and credit of the State of Mississippi, and any remaining fund balance after project completion shall be applied to bond debt service.

Bonds and income therefrom are exempt from all Mississippi state taxation and are legal investments for trustees, fiduciaries, banks, and insurance companies.