MS HB124

Authorizes the State Bond Commission to issue general obligation bonds not exceeding $5,450,000 to fund three stormwater infrastructure projects in Natchez, Mississippi.

Allocates up to $2,550,000 for the Roselawn Subdivision Stormwater Infrastructure project, $1,600,000 for the West Stiers Lane project, and $1,300,000 for the Concord Avenue project.

Creates a special fund designated the "2025 City of Natchez Stormwater Infrastructure Fund" within the State Treasury to receive bond proceeds and disburse funds to the city for project costs.

Bonds are general obligations of Mississippi with full faith and credit backing, bearing interest not to exceed limits in Mississippi Code, with maturity dates up to 25 years and no issuance after July 1, 2029.

Bond proceeds and income are exempt from Mississippi state taxation, and any remaining fund amounts after project completion shall be applied to bond debt service.