MS HB1846

Authorizes the issuance of state general obligation bonds not to exceed $600,000 to assist the City of Byram, Mississippi with costs of the Barrington Drive Pipe Rehabilitation Project at Barrington Subdivision.

Creates a special fund designated the "2025 City of Byram Barrington Drive Pipe Rehabilitation Fund" within the State Treasury to receive bond proceeds and disburse funds for the project costs.

Bonds may be issued at any time or in multiple tranches until July 1, 2029, with maturity dates not exceeding 25 years, interest rates within statutory limits, and all bonds backed by the full faith and credit of the State of Mississippi.

Investment earnings on amounts in the special fund shall be used to pay debt service on the issued bonds, and any remaining funds after project completion or abandonment shall also be applied to debt service.

The State Bond Commission is authorized to determine bond terms, forms, sale methods, and manage the issuance and delivery of bonds; the act takes effect July 1, 2025.