MS HB737

Authorizes issuance of state general obligation bonds not to exceed $3,000,000 to assist the City of Holly Springs with construction, reconstruction, repair, and improvements to Mississippi Highway 178 and related infrastructure.

Creates a special fund designated "2023 City of Holly Springs Mississippi Highway 178 Improvement Fund" within the State Treasury to receive bond proceeds and disburse them for the specified highway project costs.

Bonds may be issued at any time or in multiple installments, with maturity not exceeding 25 years from issue date and interest rates not to exceed limits in Section 75-17-101, Mississippi Code of 1972; no bonds may be issued after July 1, 2027.

Bonds are general obligations of the State of Mississippi with full faith and credit pledged; principal and interest payments are exempt from state taxation and any remaining fund amounts after project completion shall be applied to bond debt service.

State Treasurer and Department of Finance and Administration authorized to issue warrants and make timely payments for principal, interest, and premium on bonds as they become due.