MS HB1359

Amends Mississippi Code to clarify that counties and municipalities may issue bonds as either serial bonds or as a single term bond payable annually.

Modifies bond maturity requirements to specify that serial bonds must mature annually with specific amortization schedules, while single term bonds may have a final maturity not longer than 20 years.

Removes previous restrictions limiting bond denominations to $100-$5,000 and allows denominations to be specified by governing authorities of counties and municipalities.

Authorizes counties and municipalities to issue single term bonds that amortize and comply with interest rate and other requirements applicable to serial bonds.

Takes effect upon passage.