MS HB1939

Authorizes issuance of state general obligation bonds not to exceed $1,230,275 to assist the Town of Duncan, Mississippi with costs of its 2024 Road Rehabilitation Project.

Creates a special fund called the "2025 Town of Duncan Road Rehabilitation Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may mature up to 25 years from date of issue with interest rates subject to Mississippi Code Section 75-17-101 limits, and all bonds are backed by the full faith and credit of the state.

No bonds may be issued under this authority after July 1, 2029, and any remaining unexpended amounts in the special fund shall be applied to pay debt service on the bonds.

Act takes effect July 1, 2025.