MS HB1764

Authorizes the issuance of state general obligation bonds not to exceed $154,000 to assist Greene County with overlay, upgrades, and improvements to a segment of Old Highway 63 from the Greene County/George County line to its intersection with Dickerson Sawmill Road.

Creates the "2023 Greene County Old Highway 63 Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the road project costs.

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

Investment earnings on fund amounts shall be applied to pay debt service on the bonds, and any remaining funds after project completion shall be used for debt service as directed by the State Bond Commission.

No bonds may be issued under this act after July 1, 2027, and the act becomes effective July 1, 2023.