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MS HB429
Bill
Status
2/22/2023
Primary Sponsor
Jerry Turner
Click for details
AI Summary
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Authorizes the State Bond Commission to issue up to $345,900 in general obligation bonds to assist the City of Baldwyn with costs of overlaying Cox Street, Brickyard Street, Bluebell Street, and Thomas Street.
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Creates a special fund designated "2023 City of Baldwyn Street Overlay Fund" within the State Treasury to receive bond proceeds and disburse funds for the street projects.
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Bonds shall be general obligations of the State of Mississippi with full faith and credit pledged for repayment, mature within 25 years, and be exempt from state taxation.
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Remaining funds after project completion shall be applied to pay debt service on the bonds; investment earnings on the fund shall also be used for debt service.
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No bonds may be issued under this act after July 1, 2027, and the act takes effect July 1, 2023.
Legislative Description
Bonds; authorize issuance to assist City of Baldwyn with overlaying certain streets.
Last Action
Died In Committee
2/22/2023