MS HB86

Authorizes the State Bond Commission to issue general obligation bonds not to exceed $76,940 to assist the City of Baldwyn, Mississippi with construction, engineering, and related costs for paving Bluebell Street.

Bonds may bear interest at rates not exceeding limits set in Mississippi Code Section 75-17-101, mature within 25 years from issuance, and must be sold by sealed bids at public sale or by negotiated sale as determined by the commission.

Creates a special fund designated "2024 City of Baldwyn Bluebell Street Fund" within the State Treasury to receive bond proceeds and disburse funds for the specified paving project.

Pledges the full faith and credit of the State of Mississippi to guarantee payment of bonds, with any insufficient appropriated funds to be paid by the State Treasurer from the General Treasury.

Prohibits issuance of bonds after July 1, 2028, and directs any remaining fund balance after project completion to be applied toward debt service on the issued bonds.