MS HB82

Authorizes issuance of state general obligation bonds not to exceed $285,567 to assist the City of Baldwyn, Mississippi with costs of the County Road 6105 water line replacement project.

Creates a special fund designated "2024 City of Baldwyn - County Road 6105 Water Line Replacement Project Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may mature up to 25 years from issuance, bear interest rates not exceeding limits in Mississippi Code Section 75-17-101, and may be issued through sealed bids or negotiated sale by the State Bond Commission.

Bonds are backed by the full faith and credit of the State of Mississippi as general obligations, with the State Treasurer authorized to pay principal and interest from state funds if appropriated amounts are insufficient.

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