MS HB475

Authorizes issuance of state general obligation bonds up to $5,000,000 to provide funds to Bolivar County, Mississippi for the Town of Alligator's 2025 Water and Sewer Improvement Project.

Creates a special fund called the "2025 Bolivar County - Town of Alligator Water and Sewer Improvements Fund" within the State Treasury to receive bond proceeds and disburse them for project costs.

Bonds may mature up to 25 years from issuance and bear interest rates not to exceed limits set in Mississippi Code Section 75-17-101; all bonds are general obligations backed by the full faith and credit of the State.

Bond proceeds may be issued by the State Bond Commission through sealed bids at public sale or negotiated sale, with all costs of issuance paid from bond proceeds.

No bonds may be issued after July 1, 2029; any remaining fund balances or investment earnings after project completion shall be applied to debt service on the bonds.