MS SB2995

Authorizes issuance of state general obligation bonds not to exceed $6,000,000 to assist the City of Hattiesburg with infrastructure improvements in the Midtown area.

Bond proceeds may be used for roads, bridges, water, sewer, drainage, sidewalks, stormwater detention, land acquisition, utility relocation, and lighting in the Midtown area.

Creates the "2022 Midtown Hattiesburg Infrastructure Fund" within the State Treasury as a separate fund to receive and disburse bond proceeds for the specified projects.

Establishes that bonds are general obligations of the State of Mississippi backed by full faith and credit, with principal and interest payments from the state treasury if appropriations are insufficient.

No bonds may be issued under this authorization after July 1, 2026, and any remaining fund balance after project completion shall be applied to debt service on the bonds.