MS HB1666

Authorizes issuance of state general obligation bonds totaling up to $3,400,000 to fund community development projects in the Town of Fayette, Mississippi.

Bond proceeds allocated as follows: $2,000,000 for water treatment plant construction; $200,000 for public lake, park, and recreational facilities; $1,000,000 for sewer system improvements; $100,000 for property development along U.S. Highway 61; and $100,000 for matching funds to acquire a new fire engine.

Creates a special fund designated "2025 Town of Fayette Community Development Projects Fund" within the State Treasury to receive and disburse bond proceeds for authorized projects.

Bonds may be issued anytime before July 1, 2029, with maturity dates not to exceed 25 years and interest rates capped per Mississippi Code Section 75-17-101.

Full faith and credit of the State of Mississippi pledges backing for bond principal and interest; bond income is exempt from state taxation.