MS HB1529

Authorizes issuance of state general obligation bonds up to $2,500,000 to assist Lafayette County, Mississippi with extending West Oxford Loop and repairing/replacing bridges in the county.

Creates the "2023 Lafayette County West Oxford Loop and Bridge Repair Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects.

Bonds shall mature within 25 years, bear interest rates not exceeding limits in Section 75-17-101 of Mississippi Code, and are backed by the full faith and credit of the State of Mississippi.

State Treasurer must certify payment necessity to Department of Finance and Administration, which shall issue warrants to pay principal, interest, and accrued value of bonds when due.

Bond issuance authority expires July 1, 2027; any remaining fund balance after project completion shall be applied toward debt service on the bonds.