MS HB4047

Authorizes issuance of state general obligation bonds not to exceed $1,500,000 to assist the City of Booneville, Mississippi with costs of upgrading a collapsed sewer system and replacing damaged water pipes.

Creates a special fund designated "2024 City of Booneville Sewer Restoration Project Fund" within the State Treasury to receive bond proceeds and disburse funds for the sewer restoration project.

Bonds shall mature within 25 years from date of issue, with interest rates not exceeding limits set in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

State Treasurer and Department of Finance and Administration authorized to certify necessity for bonds, issue warrants, and pay principal and interest from state funds as bonds become due.

No bonds shall be issued under this authorization after July 1, 2028, and the act takes effect July 1, 2024.