MS HB1695

Authorizes issuance of state general obligation bonds not to exceed $550,000 to assist the City of Gulfport with removal of blighted properties in the western part of the city.

Bonds may have interest rates not exceeding the limits in Section 75-17-101, mature within 25 years, and may be sold by sealed bid at public sale or through negotiated sale.

Creates a special "2025 City of Gulfport Blighted Properties Fund" within the State Treasury to receive bond proceeds and disburse funds for project costs.

Bonds are general obligations of Mississippi backed by the full faith and credit of the state; any remaining fund balance after project completion shall be applied to pay debt service on the bonds.

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