MS SB2216

Authorizes issuance of state general obligation bonds up to $5,000,000 to assist the City of Greenville, Mississippi with costs of water and sewer system improvements.

Bonds may be issued at any time before July 1, 2026, with maturities not exceeding 25 years and interest rates capped per Mississippi Code Section 75-17-101.

Creates "2022 City of Greenville Water and Sewer Systems Fund" in state treasury to receive bond proceeds and disburse funds for project costs under Department of Finance and Administration discretion.

Pledges full faith and credit of the State of Mississippi for bond payment; bonds are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions.

Bond proceeds may be applied to debt service on issued bonds after projects are completed, abandoned, or cannot be timely completed, as certified by resolution of the State Bond Commission.