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MS SB2380
Bill
AI Summary
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Authorizes issuance of up to $2,245,000 in state general obligation bonds to assist the City of Natchez, Mississippi, with the Concord Avenue Drainage Improvement Project
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Creates the "2022 Concord Avenue Drainage Improvement Project Fund" as a special fund within the State Treasury, with unexpended amounts and investment earnings remaining in the fund rather than lapsing to the General Fund
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Bonds may mature up to 25 years from date of issue and are backed by the full faith and credit of the State of Mississippi
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Bonds issued under this act 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 City of Natchez in paying costs of Concord Avenue Drainage Improvement Project.
Last Action
Died In Committee
2/23/2022