MS HB1646

Authorizes issuance of state general obligation bonds up to $8,000,000 to assist the City of Port Gibson with water line and sewer line replacement and upgrades to water and sewer systems and related infrastructure.

Creates the "2025 Water and Sewer Infrastructure Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for eligible Port Gibson water and sewer projects.

Bonds are general obligations of the State of Mississippi backed by full faith and credit of the state; interest and principal payments shall be made from state appropriations or State Treasury funds if needed.

Bonds may mature up to 25 years from date of issue at interest rates not exceeding limits set in Section 75-17-101, Mississippi Code of 1972, and are exempt from state taxation.

No bonds may be issued after July 1, 2029; any remaining fund balance after projects are completed shall be applied to debt service on the bonds.