MS HB1446

Authorizes issuance of state general obligation bonds up to $350,000 to assist the City of Baldwyn, Mississippi with drainage improvements and overlay work on Carrollville Avenue.

Creates a special fund designated "2022 City of Baldwyn - Carrollville Avenue Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may mature up to 25 years from issuance with interest rates not to exceed limits in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2026.

Investment earnings on fund deposits shall be used to pay debt service on the bonds; any remaining funds after project completion shall also be applied to debt service.

Bonds are general obligations of the State of Mississippi backed by full faith and credit of the state, with proceeds exempt from state taxation.