MS HB324

Authorizes the State Bond Commission to issue general obligation bonds not to exceed $450,000 to assist the Town of Alligator, Mississippi with its 2025 Water and Sewer Improvement Project.

Bonds may have a maturity not exceeding 25 years from date of issue, with interest rates subject to state law limits, and interest payable semiannually or annually.

Creates a special fund designated "2025 Town of Alligator Water and Sewer Improvements Fund" to be maintained in the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds are general obligations of Mississippi backed by the full faith and credit of the state; bond proceeds and income are exempt from state taxation.

No bonds may be issued under this authority after July 1, 2029, and the act takes effect July 1, 2025.