MS SB3001

Authorizes the issuance of up to $5,000,000 in state general obligation bonds to assist the City of Canton, Mississippi, with water and sewer system improvements.

Creates a special fund called the "2021 City of Canton Water and Sewer Improvements Fund" within the State Treasury to receive bond proceeds and disburse them for the authorized water and sewer projects.

Grants the State Bond Commission authority to determine bond terms including interest rates (not exceeding limits in Section 75-17-101), maturity dates (up to 25 years), and whether to sell bonds through public bid or negotiated sale.

Requires that any remaining fund balance after project completion be applied to pay debt service on the bonds, and specifies that bond proceeds cannot be issued after July 1, 2025.

Pledges the full faith and credit of Mississippi for repayment of the bonds, makes them legal investments for state fiduciaries and financial institutions, and exempts bonds and their income from state taxation.