MS HB1683

Authorizes issuance of state general obligation bonds not to exceed $61,000,000 to assist the City of Gulfport, Mississippi with costs of the South Gulfport Wastewater Treatment Plant Project.

Creates a special fund called the "2023 South Gulfport Wastewater Treatment Plant Project Fund" within the State Treasury to receive bond proceeds and disburse funds to the City of Gulfport for project costs.

Bonds may mature up to 25 years from issuance with interest rates not to exceed limits in Section 75-17-101, Mississippi Code of 1972, and are backed by the full faith and credit of the State of Mississippi.

Bonds are exempt from state taxation and any remaining fund amounts after project completion shall be applied to pay debt service on the bonds.

No bonds may be issued after July 1, 2027, and the act takes effect July 1, 2023.