MS HB222

Authorizes issuance of state general obligation bonds not to exceed $400,000 to assist the City of Starkville with drainage improvements and related work in the Rosedale subdivision.

Creates a special fund called the "2022 City of Starkville Drainage Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the drainage projects.

Grants the State Bond Commission authority to determine bond terms including interest rates (not exceeding limits in Section 75-17-101), maturity dates (up to 25 years), and redemption provisions.

Requires all bond proceeds to be transferred to the special fund and disbursed by the Department of Finance and Administration solely for drainage improvement costs; any remaining funds after project completion must be applied to debt service on the bonds.

Bonds are backed by the full faith and credit of the State of Mississippi and are exempt from state taxation; no bonds may be issued after July 1, 2026.