MS HB977

Authorizes issuance of state general obligation bonds not to exceed $1,325,000 to assist the City of Byhalia, Mississippi with utility relocation and street paving projects.

Allocates funds as follows: $400,000 for gas utility relocation, $500,000 for water utility relocation, $175,000 for sewer utility relocation, and $250,000 for street paving improvements on Mississippi Highway 309 near Byhalia schools.

Creates the "2023 City of Byhalia Utilities Relocation and Street Paving Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects.

Bonds are general obligations of the State of Mississippi backed by full faith and credit, with interest rates not to exceed limits in Section 75-17-101, maturity not exceeding 25 years, and exemption from state taxation.

No bonds may be issued under this act after July 1, 2027, and any remaining fund balance after project completion shall be applied to debt service on the issued bonds.