MS HB1856

Increases state general obligation bonds authorized for the Local Governments and Rural Water Systems Improvements Revolving Loan Fund from $36,843,000 to $44,513,600.

Bond proceeds shall be deposited in the revolving fund with an additional $5,000,000 deposited in the emergency fund for water system construction and repair projects.

Bonds may mature up to 25 years from issuance, bear interest rates up to limits set by Mississippi law, and may be redeemed before maturity at the State Bond Commission's discretion.

State Bond Commission authorized to issue bonds through public sale or negotiated sale, with full faith and credit of Mississippi pledged as security for repayment.

Act takes effect July 1, 2024.