MS SB2033

Authorizes the State Bond Commission to issue up to $500,000 in general obligation bonds to assist the Board of Supervisors of Yazoo County in paying costs associated with a drainage project.

Creates the "2023 Yazoo County Drainage Project Fund" within the State Treasury to receive bond proceeds and disburse funds for the drainage project costs.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

Prohibits bond issuance after July 1, 2027, and provides that any remaining funds in the special fund shall be applied to pay debt service on the bonds after project completion or abandonment.

Bonds and income therefrom are exempt from state taxation and may be sold through public sealed bids or negotiated sale as determined by the State Bond Commission.