MS HB93

Authorizes issuance of state general obligation bonds not to exceed $102,595.00 to assist the City of Baldwyn, Mississippi with construction, engineering, and related costs for paving Smithy Drive.

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

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits set in Section 75-17-101, Mississippi Code of 1972, and are backed by the full faith and credit of the State of Mississippi.

Prohibits bond issuance after July 1, 2028, and directs any remaining fund balance after project completion to pay debt service on issued bonds; investment earnings on the fund shall also be used for debt service.

Effective July 1, 2024.