MS HB1231

Authorizes the issuance of state general obligation bonds not to exceed $1,200,000 to assist Claiborne County, Mississippi with road repairs and improvements.

Creates the "2024 Claiborne County Road Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for specified road projects in each of the five supervisors districts in Claiborne County.

Bonds may mature up to 25 years from issuance, bear interest at 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.

Authorizes the State Bond Commission to determine bond terms, advertise for bids, and conduct the sale of bonds; all bond proceeds are exempt from state taxation and qualify as legal investments for financial institutions and fiduciaries.

No bonds may be issued after July 1, 2028; any remaining fund balance after project completion shall be applied to pay debt service on the bonds.