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MS HB4067
Bill
Status
Failed
3/27/2024
Primary Sponsor
Otis Anthony
Click for details
AI Summary
- Authorizes the State Bond Commission to issue general obligation bonds up to $2,031,126 to assist the Town of Sunflower, Mississippi with citywide street improvements.
- Creates a special fund designated "2024 Town of Sunflower Street Improvements Fund" within the State Treasury to receive and disburse bond proceeds for the street improvement project.
- Bonds may mature up to 25 years from issuance with interest rates not to exceed limits set in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2028.
- Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state, with all principal and interest paid from appropriated funds or the State Treasury.
- Any remaining funds after project completion or abandonment must be applied toward debt service on the bonds issued; investment earnings on the fund also support bond debt service.
Legislative Description
Bonds; authorize issuance to assist Town of Sunflower with street improvements.
Last Action
Died In Committee
3/27/2024
Committee Referrals
Ways and Means3/27/2024
Full Bill Text
No bill text available