MS SB3072

Authorizes the State of Mississippi to issue up to $1,500,000 in general obligation bonds to help the City of West Point pay for repairs and upgrades to its water supply system

Creates the "2022 City of West Point Water Supply System Fund" as a special fund within the State Treasury, separate from the General Fund, to hold bond proceeds

Bonds must be issued before July 1, 2026, with a maximum maturity of 25 years from the date of issue

Bonds are backed by the full faith and credit of the State of Mississippi, with the State Treasurer authorized to pay principal and interest from state funds if appropriated amounts are insufficient

Bonds and income from them are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies