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MS HB524
Bill
Status
Failed
2/23/2022
Primary Sponsor
Larry Byrd
Click for details
AI Summary
- Authorizes issuance of up to $50 million in state general obligation bonds to fund the Emergency Road and Bridge Repair Fund
- Bonds must be issued before July 1, 2026, and may mature up to 25 years from the date of issue
- The State Bond Commission serves as the issuing agent with authority to determine bond terms, sale methods, and pricing
- Bonds are backed by the full faith and credit of Mississippi, with the State Treasurer authorized to pay principal and interest from state funds if legislative appropriations are insufficient
- Bond proceeds and income are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions
Legislative Description
Bonds; authorize issuance to provide funds for the Emergency Road and Bridge Repair Fund.
Last Action
Died In Committee
2/23/2022
Committee Referrals
Ways and Means1/7/2022
Full Bill Text
No bill text available