MS SB3165

Authorizes the State Bond Commission to issue general obligation bonds with proceeds used to fund infrastructure and improvement projects across Mississippi municipalities and counties.

Creates eight separate special funds within the State Treasury for: Town of Sebastopol turn lane construction ($400,000), Town of Hickory pavement overlay ($100,000), Town of Decatur rescue extrication equipment ($60,000), City of Forest well restoration ($500,000), City of Union street overlay ($250,000), Scott County infrastructure improvements including box culvert replacement ($350,000), Newton County Tanglewood Road improvements ($450,000), and Newton County Lawrence Hazel Road bridge replacement ($415,000).

Establishes that bond proceeds will be disbursed by the Department of Finance and Administration to assist designated municipalities and counties, with any remaining funds applied to debt service after project completion, abandonment, or inability to complete timely.

Sets maximum bond issuance limits for each project and prohibits issuance of bonds after July 1, 2026.

Bonds are backed by the full faith and credit of the State of Mississippi, are exempt from state taxation, and mature within 25 years with interest paid semiannually or annually at rates not to exceed statutory limits.