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MS HB1657
Bill
Status
Failed
2/23/2022
Primary Sponsor
Jerry Turner
Click for details
AI Summary
- Authorizes issuance of state general obligation bonds totaling up to $9,903,800 to assist Prentiss County with repair and/or replacement of five bridge projects
- Creates the "2022 Prentiss County Bridge Fund" as a special fund in the State Treasury to receive bond proceeds and disburse funds for specific bridges: SA59-015 ($2,484,050), SA59-033 and SA59-034 ($1,912,500), SA59-071 and SA59-093 ($2,437,400), SA59-114 and SA59-115 ($1,481,700), and SA59-029 ($1,588,150)
- Bonds are general obligations of Mississippi with full faith and credit of the state pledged for repayment, bearing interest at rates not exceeding limits in Section 75-17-101 with maturity not exceeding 25 years
- Establishes State Bond Commission authority to determine bond terms, manage issuance and sale, and transfer proceeds to the special fund; any remaining funds after project completion shall be applied to debt service on bonds
- Takes effect July 1, 2022, with no bonds to be issued after July 1, 2026
Legislative Description
Bonds; authorize issuance to assist Prentiss County with bridge projects.
Last Action
Died In Committee
2/23/2022
Committee Referrals
Ways and Means2/16/2022
Full Bill Text
No bill text available