MS HB87

Authorizes issuance of state general obligation bonds not to exceed $197,855.00 to assist the City of Baldwyn, Mississippi with construction, engineering, and related costs for paving Thomas Street.

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

Bonds may mature up to 25 years from issuance, bear interest at rates not exceeding limits set in Mississippi Code Section 75-17-101, and may be sold by sealed bid or negotiated sale.

Pledges full faith and credit of the State of Mississippi to pay bonds; any remaining funds after project completion shall be applied to debt service on the bonds.

No bonds shall be issued under this authority after July 1, 2028; act takes effect July 1, 2024.