MS SB2105

Authorizes the State Bond Commission to issue up to $500,000 in general obligation bonds to assist the Board of Supervisors of Yazoo County in paying costs associated with a drainage project.

Creates the "2024 Yazoo County Drainage Project Fund" within the State Treasury to receive and disburse bond proceeds, with unexpended amounts not reverting to the General Fund.

Bonds may mature up to 25 years from issuance and may be issued anytime before July 1, 2028, with interest rates not exceeding limits set in Mississippi Code Section 75-17-101.

Bonds are general obligations of the State of Mississippi backed by full faith and credit, with principal and interest payable from appropriated funds or the State Treasury if appropriations are insufficient.

Upon project completion or abandonment, remaining fund amounts shall be applied to pay debt service on the issued bonds.