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MS SB2215
Bill
Status
2/23/2022
Primary Sponsor
Derrick Simmons
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AI Summary
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Authorizes issuance of up to $500,000 in Mississippi general obligation bonds to help the Town of Metcalfe pay for improvements to its water and sewer systems
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Creates the "2022 Town of Metcalfe Water and Sewer Systems Fund" as a special fund within the State Treasury to hold bond proceeds, with unexpended amounts not lapsing to the General Fund
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Bonds may have a maximum maturity of 25 years and are backed by the full faith and credit of the State of Mississippi
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Bonds and income from them are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions
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No bonds may be issued under this act after July 1, 2026
Legislative Description
Bonds; authorize issuance to assist Town of Metcalfe in paying costs of improvements to its water and sewer systems.
Last Action
Died In Committee
2/23/2022