MS SB2103

Authorizes issuance of state general obligation bonds not to exceed $1,100,000 to assist Humphreys County Board of Supervisors with roadway, curb, and gutter improvements in Westgate Subdivision.

Creates the "2024 Humphreys County Westgate Improvements Fund" as a special fund in the State Treasury to receive bond proceeds and disburse funds for the specified improvements.

Bonds may mature up to 25 years from date of issue with interest rates not exceeding limits in Mississippi Code Section 75-17-101, and shall be signed by the State Bond Commission chairman.

Bonds are general obligations of the State of Mississippi backed by the full faith and credit of the state; income from bonds is exempt from state taxation.

No bonds may be issued under this act after July 1, 2028; any remaining funds after project completion shall be applied to pay debt service on the issued bonds.