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MS HB1280
Bill
Status
2/23/2022
Primary Sponsor
Earle Banks
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AI Summary
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Authorizes issuance of up to $4,000,000 in state general obligation bonds to assist the City of Jackson, Mississippi, with repairs, upgrades, and improvements to its water and sewer systems
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Creates the "2022 City of Jackson Water and Sewer Systems Improvements Fund" within the State Treasury to hold and disburse bond proceeds, with funds managed by the Department of Finance and Administration
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Bonds must be issued before July 1, 2026, with a maximum maturity of 25 years from the date of issue
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Pledges the full faith and credit of the State of Mississippi for bond repayment, making them general obligation bonds
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Bonds and income from them are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions
Legislative Description
Bonds; authorize issuance to assist City of Jackson with making repairs and improvements to water and sewer systems.
Last Action
Died In Committee
2/23/2022