MS HB1447

Authorizes issuance of state general obligation bonds not to exceed $1,468,500 to assist the City of Baldwyn, Mississippi with infrastructure improvements, with no bonds issued after July 1, 2026.

Allocates funds as follows: $189,500 for County Road 6105 water line replacement, $923,500 for sewer line construction and expansion, and $355,500 for drainage improvements.

Creates a special "2022 City of Baldwyn Infrastructure Improvements Fund" within the State Treasury to receive and disburse bond proceeds, with unexpended amounts and investment earnings applied to debt service after project completion.

Bonds are general obligations backed by the full faith and credit of Mississippi, with principal and interest payable over up to 25 years at rates not exceeding statutory limits, and are tax-exempt.

State Bond Commission authorized to determine bond terms, form, sale method, and manage issuance; State Treasurer responsible for certifying payment needs and ensuring timely debt service payments.