MS HB1700

Authorizes issuance of state general obligation bonds not to exceed $540,200 to assist the Town of Benoit, Mississippi with its 2025 road improvement project.

Creates a special fund designated "2025 Town of Benoit Road Improvement Project Fund" within the State Treasury to receive and disburse bond proceeds for project costs.

Bonds are general obligations of the State of Mississippi with full faith and credit pledged; principal and interest payable from state funds if legislative appropriations are insufficient.

Bonds may mature up to 25 years from issue date with interest rates subject to Mississippi Code Section 75-17-101; no bonds may be issued after July 1, 2029.

Upon project completion, abandonment, or determination that timely completion is not feasible, any remaining fund balance shall be applied to pay bond debt service.