MS HB1726

Authorizes issuance of state general obligation bonds not to exceed $1,312,500 to assist the City of Petal, Mississippi, with construction, improvements, and expansion of wastewater infrastructure to transport wastewater to Hattiesburg's sewer lagoon.

Creates a special fund designated "2024 City of Petal Wastewater Infrastructure Fund" within the State Treasury to receive bond proceeds and disburse funds for authorized project costs.

Limits bond issuance to no more than $675,000 per fiscal year, with all bonds to be issued by July 1, 2028.

Establishes that bonds are general obligations of Mississippi backed by the full faith and credit of the state; bonds are exempt from state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions.

Directs that any remaining fund balance after project completion be applied to pay debt service on the bonds, and any investment earnings shall be used for debt service payments.