MS HB638

Authorizes issuance of up to $400,000 in state general obligation bonds to assist the City of Starkville with drainage improvements and related improvements in the Rosedale subdivision

Creates the "2023 City of Starkville Drainage Improvements Fund" as a special fund within the State Treasury to hold bond proceeds, with unexpended amounts not lapsing into the General Fund

Bonds may mature up to 25 years from date of issue and are backed by the full faith and credit of the State of Mississippi

Bonds and income from them are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions

No bonds may be issued under this act after July 1, 2027, with the act taking effect July 1, 2023