MS HB1766

Authorizes issuance of state general obligation bonds not to exceed $2,000,000 to assist Greene County with road improvements and overlay work on Old Highway 63 and Winborn Chapel Road.

Establishes the "2023 Greene County Old Highway 63 and Winborn Chapel Road Improvements Fund" as a special fund within the State Treasury, separate from the General Fund, with unexpended amounts and interest earnings remaining in the fund.

Bonds may bear interest at rates not exceeding Section 75-17-101 limits, mature within 25 years, and must be issued by July 1, 2027.

Bonds are full general obligations of the State of Mississippi backed by the state's full faith and credit; the State Treasurer shall certify necessity for warrants and the Department of Finance and Administration shall issue warrants to pay principal and interest when due.

Takes effect July 1, 2023; bond proceeds and any remaining fund amounts after project completion shall be applied to pay debt service on the issued bonds.