MS HB2

Authorizes the State Bond Commission to issue up to $2,245,000 in general obligation bonds to assist the City of Natchez with its Concord Avenue drainage improvement project.

Creates a special fund designated "2025 City of Natchez Concord Avenue Drainage Improvement Project Fund" within the State Treasury to receive and disburse bond proceeds for project costs.

Bonds are general obligations of Mississippi with full faith and credit pledged by the state; interest accrues semiannually or annually and may not exceed limits set in Mississippi Code Section 75-17-101.

Bond principal and interest are exempt from Mississippi state taxation; bonds mature within 25 years and may be called for redemption at the state's option.

All bonds must be issued by July 1, 2029; any remaining fund balance after project completion shall be applied to bond debt service, and the act takes effect July 1, 2025.