MS HB1647

Authorizes issuance of state general obligation bonds not to exceed $50,000 to assist Claiborne County, Mississippi with repairs, upgrades, and improvements to the county's wastewater lagoon serving the Hermanville area.

Creates the "2025 Claiborne County Lagoon Improvements Fund" as a special fund in the State Treasury to receive bond proceeds and disburse funds for the lagoon project in specified locations across all five supervisors districts in Claiborne County.

Bonds shall be issued and managed by the State Bond Commission with maturity not exceeding 25 years, interest rates per state law limits, and shall be general obligations of the state backed by full faith and credit.

Bond proceeds and investment earnings on the fund shall be used for project costs, with any remaining amounts applied to debt service on the bonds after project completion or abandonment is certified.

No bonds may be issued under this act after July 1, 2029, and the act takes effect July 1, 2025.