MS HB371

Expands the authorized uses of the "2020 City of Union - Industrial Circle Improvements Fund" beyond repairs and overlay of Industrial Circle to also include repairs, resurfacing, and other improvements and upgrades to roads throughout the City of Union, Mississippi

Maintains the existing bond authorization limit of $300,000 in general obligation bonds issued by the State Bond Commission

Bonds must be issued before July 1, 2024, and cannot exceed 25 years to maturity

Bond proceeds remain under the discretion of the Department of Finance and Administration for disbursement to the City of Union

Bonds are tax-exempt in Mississippi and backed by the full faith and credit of the State of Mississippi