MS SB3098

Authorizes the State Bond Commission to issue general obligation bonds not to exceed $6,300,000 to assist the Town of Goodman, Mississippi with water and sewer system improvements.

Creates a special fund called the "2022 Town of Goodman Water and Sewer Improvements Fund" to receive bond proceeds and disburse funds for specific projects including a new backup well, elevated tank rehabilitation, water line repairs, lagoon levee repairs, and sewage pumping station rehabilitation.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, with interest payable semiannually or annually.

Bonds are backed by the full faith and credit of the State of Mississippi and are exempt from state taxation; any remaining fund balance after project completion shall be applied to debt service on the bonds.

No bonds may be issued under this authority after July 1, 2026; the act takes effect immediately upon passage.