MS HB396

Authorizes issuance of state general obligation bonds totaling not to exceed $1,920,000 to assist the City of Columbus, Mississippi with widening and improvements to 5th Street and Bluecutt Road.

Creates a special fund called "2022 City of Columbus - 5th Street and Bluecutt Road Improvements Fund" within the State Treasury, with up to $920,000 allocated for 5th Street improvements and up to $1,000,000 for Bluecutt Road improvements.

Grants the State Bond Commission authority to issue, sell, and manage the bonds with interest rates not exceeding limits set by Mississippi Code Section 75-17-101, with bonds maturing no later than 25 years from issue date.

Requires that any remaining funds in the special fund after project completion be applied to pay debt service on the bonds, and investment earnings on the fund shall be used for debt service payments.

Provides that bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, and authorizes issuance at any time up until July 1, 2026.