MS HB1535

Authorizes issuance of state general obligation bonds up to $350,000 to assist the City of New Albany, Mississippi with costs of its Wayfinding Signage Project.

Creates a special fund designated "2023 City of New Albany Wayfinding Signage Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may be issued at any time before July 1, 2027, with maturity not exceeding 25 years from date of issue and interest rates not to exceed limits set in Mississippi Code Section 75-17-101.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; any unused funds or investment earnings shall be applied to debt service on the bonds.

Effective date is July 1, 2023.