MS HB1727

Authorizes issuance of state general obligation bonds not exceeding $525,000 to assist the City of Petal, Mississippi with repairs, upgrades, and improvements to Chappell Hill Road.

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

Bonds may mature up to 25 years from date of issue, with interest 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.

No bonds may be issued under this authority after July 1, 2028, and any remaining fund balance after project completion shall be applied to pay bond debt service.

Bond proceeds are exempt from state taxation, and the State Treasurer is authorized to issue warrants to pay principal, interest, and premiums when due.