MS SB3144

Authorizes the State Bond Commission to issue up to $300,000 in general obligation bonds to assist the Town of Calhoun City with street improvement costs.

Bonds may not be issued after July 1, 2026, and are backed by the full faith and credit of the State of Mississippi.

Creates a special fund titled "2022 Town of Calhoun City Street Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for street improvements.

Bonds may mature up to 25 years from issuance with interest rates not exceeding limits set in Section 75-17-101, Mississippi Code of 1972, with interest payable semiannually or annually.

Any remaining fund balance after project completion shall be applied to pay debt service on the bonds; investment earnings on the fund are used for debt service payments.