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MS HB1874
Bill
Status
2/26/2025
Primary Sponsor
Jeffrey Hulum
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AI Summary
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Authorizes issuance of state general obligation bonds not exceeding $300,000 to assist the City of Gulfport in winterization costs for low-income homes in the central Gulfport area known as "The Quarter"
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Creates the "2025 City of Gulfport Home Winterization Fund" within the State Treasury to receive bond proceeds and disburse funds for winterization projects
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Establishes bond parameters including maturity of up to 25 years, interest rates subject to Mississippi Code Section 75-17-101, and full faith and credit pledge of the state for payment
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Provides that unexpended amounts and interest earnings in the fund shall not lapse and may be applied to debt service on the bonds after project completion or abandonment
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Bonds cannot be issued after July 1, 2029, and the act becomes effective July 1, 2025
Legislative Description
Bonds; authorize issuance to assist City of Gulfport with the winterization of homes in the area in the central city known as "The Quarter".
Last Action
Died In Committee
2/26/2025