MS HB214

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $958,610.00 to fund street overlay construction and engineering costs in the City of Okolona for seven streets: Buckingham, Stonewall, Olive, Triplet, Robertson, East Drive, and Alco Streets.

Creates a special fund designated "2024 City of Okolona Street Overlay Fund" to receive bond proceeds and disburse them for project costs, with unexpended amounts applied to bond debt service upon project completion or abandonment.

Bonds are backed by the full faith and credit of the State of Mississippi, mature within 25 years, bear interest subject to statutory limits, and are exempt from state taxation.

Bonds must be issued by July 1, 2028, with the State Treasurer authorized to certify necessary warrants to the Department of Finance and Administration for debt service payments when due.

Takes effect July 1, 2024.