MS SB3095

Authorizes the State Bond Commission to issue up to $5,000,000 in general obligation bonds to fund water infrastructure improvements for the East Madison Water Association.

Bond proceeds designated for: new water well ($1,300,000), water line replacement ($2,000,000), automatic meter reading water meters ($1,200,000), Ratliff Ferry tank rehabilitation ($250,000), generators at three sites ($190,000), and miscellaneous improvements ($60,000).

Creates the "2022 East Madison Water Association Fund" as a separate special fund within the State Treasury to receive and disburse bond proceeds for the authorized improvements.

Bonds may mature up to 25 years from issuance date with interest rates not to exceed limits set in Section 75-17-101; bonds backed by full faith and credit of the State of Mississippi.

No bonds may be issued under this authority after July 1, 2026; any remaining fund balance after project completion shall be applied to pay bond debt service.