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MS HB4015
Bill
Status
3/27/2024
Primary Sponsor
Bill Kinkade
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AI Summary
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Authorizes the State Bond Commission to issue up to $300,000 in general obligation bonds to assist Marshall County with repairs, upgrades, and improvements to water and sewer infrastructure along Quality Drive in north Marshall County.
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Creates the "2024 Marshall County Quality Drive Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified infrastructure projects.
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Establishes that bonds are general obligations of the State of Mississippi with full faith and credit pledged, exempt from state taxation, and may mature over up to 25 years with interest rates not exceeding limits in Mississippi Code Section 75-17-101.
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Prohibits bond issuance after July 1, 2028, and requires any remaining fund balance after project completion to be applied toward debt service on the bonds.
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Takes effect July 1, 2024.
Legislative Description
Bonds; authorize issuance to assist Marshall County with water and sewer infrastructure improvements in and along Quality Drive.
Last Action
Died In Committee
3/27/2024