MS HB219

Authorizes issuance of state general obligation bonds not to exceed $3,000,000 to assist the City of Holly Springs with construction, reconstruction, repair, and improvements to Mississippi Highway 178 and related infrastructure.

Creates a special fund called the "2024 City of Holly Springs Mississippi Highway 178 Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified projects.

Bonds may mature up to 25 years from date of issue, with interest rates not to exceed limits set 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 funds after project completion shall be applied to pay debt service on the issued bonds.

Bonds and their income are exempt from all taxation in Mississippi and may be issued without further proceedings beyond State Bond Commission resolution adoption.