MS SB2227

Authorizes issuance of up to $8,000,000 in state general obligation bonds for Sharkey County disaster recovery projects, with funds used for emergency management improvements, housing replacement from March 24, 2023 tornado, hospital construction, courthouse renovation, U.S. Highway 61 widening, industrial park development, business attraction, and workforce development.

Authorizes issuance of up to $3,000,000 in state general obligation bonds for Town of Rolling Fork disaster recovery projects, including emergency management improvements, police department building construction, highway widening, industrial park development, business attraction, and workforce development.

Creates separate special funds within the State Treasury for each entity (2024 Sharkey County Improvements Fund and 2024 Town of Rolling Fork Improvements Fund) to receive and disburse bond proceeds for specified projects.

Establishes that the State Bond Commission will manage bond issuance with interest rates not exceeding statutory limits, maturity dates not exceeding 25 years, and bonds backed by full faith and credit of the State of Mississippi.

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 bonds.