MS HB1640

Authorizes the State Bond Commission to issue up to $1,000,000 in general obligation bonds to assist Amite County with costs for a bridge replacement project on Robertson Road across Brushy Creek and an associated bank restabilization project.

Creates the "2025 Amite County Bridge Replacement and Bank Restabilization Fund" as a special fund within the State Treasury, separate from the General Fund, with unexpended amounts and interest earnings remaining in the fund.

Bonds shall mature within 25 years, bear interest 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.

Bonds must be issued by July 1, 2029, and upon project completion or abandonment, remaining funds shall be applied to pay debt service on the bonds.

Bonds and income from bonds are exempt from Mississippi state taxation, and proceeds may only be used for project costs and bond issuance expenses.