MS HB1508

Authorizes issuance of up to $6,360,000 in state general obligation bonds to assist the Progress Community Water Association in Lamar County, Mississippi

Funds will pay for construction, repair, replacement, expansion, upgrades, and improvements to the association's water system and related infrastructure in Lamar County and Forrest County

Creates the "2022 Progress Community Water Association Improvements" special fund within the State Treasury to hold bond proceeds, with unexpended amounts not lapsing at fiscal year end

Bonds may mature up to 25 years from date of issue, are exempt from all Mississippi taxation, and are backed by the full faith and credit of the state

No bonds may be issued under this act after July 1, 2026, with the act taking effect July 1, 2022