MS HB440

Authorizes the issuance of state general obligation bonds not to exceed $353,360.00 to assist the City of Baldwyn, Mississippi with costs associated with the County Road 167 gas line extension project.

Creates a special fund designated as the "2023 City of Baldwyn-County Road 167 Gas Line Extension Project Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may be issued at any time or in multiple installments, with maturity dates not to exceed 25 years from issuance and interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

Bonds are general obligations backed by the full faith and credit of the State of Mississippi, with the State Treasurer authorized to issue warrants for debt service payments from the State Treasury if legislative appropriations are insufficient.

No bonds shall be issued under this authority after July 1, 2027, and the act takes effect July 1, 2023.