MS SB2170

Authorizes the State Bond Commission to issue up to $2,245,000 in general obligation bonds to assist the City of Natchez with costs of the Concord Avenue Drainage Improvement Project

Creates a special fund designated "2023 Concord Avenue Drainage Improvement Project Fund" within the State Treasury to receive and disburse bond proceeds for the project

Bonds may be issued in multiple installments up until July 1, 2027, with maturity dates not exceeding 25 years from issuance and interest rates compliant with Mississippi Code Section 75-17-101

Pledges the full faith and credit of the State of Mississippi to back the bonds, with any shortfall in appropriated funds to be covered by the State Treasurer from the General Treasury

Any remaining funds after project completion or abandonment shall be applied to debt service on the bonds; investment earnings on fund deposits shall also be used for debt service