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MS HB156
Bill
Status
Failed
2/26/2025
Primary Sponsor
Gene Newman
Click for details
AI Summary
- Authorizes the issuance of state general obligation bonds not to exceed $600,000 to assist the City of Pearl, Mississippi with construction and installation of a traffic signal at the intersection of Mississippi Highway 468 and Murray Drive
- Creates a special fund designated "2025 City of Pearl, Mississippi Highway 468/Murray Drive Traffic Signal Fund" within the State Treasury to receive bond proceeds and disburse funds for the traffic signal project
- Bonds mature in no more than 25 years from issuance, bear interest at rates not exceeding limits in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi
- No bonds may be issued under this authorization after July 1, 2029; any remaining fund balance after project completion shall be applied to pay debt service on the bonds
- Takes effect July 1, 2025
Legislative Description
Bonds; authorize issuance to assist City of Pearl with installation of traffic signal at intersection of MS Highway 468 and Murray Drive.
Last Action
Died In Committee
2/26/2025
Committee Referrals
Ways and Means1/10/2025
Full Bill Text
No bill text available