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MS SB2691
Bill
AI Summary
- Increases authorized bonded indebtedness from $4,000,000 to $8,000,000 for infrastructure improvements at the intersection of Mississippi Highway 7 and University Avenue in Oxford.
- Creates the "2020 Oxford Intersection Capacity and Safety Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the intersection project.
- Requires proof that at least $4,000,000 in private, local, federal, or other state funds have been committed before any bonds can be issued.
- Authorizes the State Bond Commission to issue general obligation bonds with maturity not exceeding 25 years, with no bonds issued after July 1, 2024.
- Pledges the full faith and credit of Mississippi to repay bonds, with any remaining funds after project completion applied to debt service on the bonds.
Legislative Description
Bonds; increase amount to improve capacity and safety of intersection of MS Highway 7 and University Avenue in Oxford.
Last Action
Died In Committee
2/24/2021
Committee Referrals
Finance1/18/2021
Full Bill Text
No bill text available