MS SB2035

Authorizes issuance of state general obligation bonds not to exceed $1,100,000 to assist Humphreys County Board of Supervisors with roadway, curb, and gutter improvements in Westgate Subdivision.

Creates a special fund designated "2023 Humphreys County Westgate Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified project costs.

Bonds mature within 25 years, bear interest at rates not exceeding limits in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

Bond proceeds must be used solely for project costs and issuance expenses; any remaining funds after project completion shall be applied to pay debt service on the bonds.

No bonds may be issued under this authority after July 1, 2027; bonds and investment earnings are exempt from Mississippi state taxation.