MS HB479

Authorizes the State Bond Commission to issue general obligation bonds not to exceed $354,000 to assist the Town of Duncan, Mississippi, with construction and improvements to the town's walking trail.

Creates a special fund called the "2025 Town of Duncan Walking Trail Extension Fund" within the State Treasury to receive and disburse bond proceeds for the walking trail project.

Bonds shall mature no later than 25 years from issuance with interest rates not to exceed limits set in Mississippi Code Section 75-17-101, and no bonds may be issued after July 1, 2029.

Bonds are general obligations of the State of Mississippi backed by full faith and credit, with the State Treasurer authorized to certify payment from any available state funds if appropriations are insufficient.

Act takes effect July 1, 2025; any remaining fund balance after project completion shall be applied to pay debt service on the bonds issued.