MS SB2460

Authorizes issuance of state general obligation bonds not to exceed $356,000 to assist the City of Guntown, Mississippi with costs of expanding its sewer system.

Creates the "2021 City of Guntown Sewer Expansion Fund" within the State Treasury to receive bond proceeds and disburse funds for the sewer expansion project.

Bonds may not be issued after July 1, 2025, and may mature up to 25 years from date of issue with interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

State Bond Commission acts as issuing agent and may sell bonds through public bidding or negotiated sale, with proceeds transferred to the special fund and disbursed by the Department of Finance and Administration.

Bonds are backed by the full faith and credit of the State of Mississippi, are tax-exempt, and any unexpended funds or investment earnings shall be applied to pay debt service on the bonds.