MS SB2458

Authorizes issuance of state general obligation bonds not to exceed $2,000,000 to fund design, construction, and implementation of a regional wastewater treatment center and related infrastructure for the Sand Creek Wastewater Authority in Northeast Mississippi.

Creates the "2021 Sand Creek Wastewater Treatment Project Fund" as a special fund within the State Treasury to receive bond proceeds and disburse funds at the discretion of the Department of Finance and Administration.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2025.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; the State Treasurer must cover any deficiency from the General Treasury if appropriated funds are insufficient for debt service.

Bond proceeds are exempt from Mississippi taxation, and any remaining funds after project completion must be applied toward debt service on the issued bonds.