MS HB90

Authorizes the issuance of state general obligation bonds not to exceed $297,360.00 to assist the City of Baldwyn, Mississippi, with costs associated with the County Road 170 gas line extension project.

Creates a special fund designated the "2024 City of Baldwyn County Road 170 Gas Line Extension Project Fund" within the State Treasury to receive and disburse bond proceeds for project costs.

Bonds shall be general obligations of the State of Mississippi backed by the full faith and credit of the state, with principal and interest payable by the State Treasurer from any available state funds if insufficient appropriations exist.

Bonds may mature up to 25 years from issuance, bear interest rates not to exceed limits in Mississippi Code Section 75-17-101, and may be issued at any time before July 1, 2028.

Bond proceeds and income are exempt from all state taxation, and any remaining funds after project completion shall be applied to pay debt service on the bonds.