MS HB1736

Authorizes issuance of state general obligation bonds totaling up to $1,100,000 to assist Humphreys County in paying costs for roadway, curb, and gutter improvements in Westgate Subdivision.

Creates the "2024 Humphreys County Westgate Improvements Fund" as a special fund in the state treasury to receive and disburse bond proceeds for the specified infrastructure improvements.

Bonds may mature up to 25 years from issue date, bear interest within limits set by Mississippi Code Section 75-17-101, and may be sold by sealed bids at public sale or by negotiated sale.

Bonds are general obligations of the State of Mississippi with full faith and credit pledged for payment; bonds and income are exempt from state taxation.

No bonds shall be issued under this section after July 1, 2028, and any unexpended funds remaining after project completion shall be applied to pay debt service on the issued bonds.