MS HB499

Authorizes issuance of state general obligation bonds not to exceed $150,810,510.00 to assist the City of Greenville, Mississippi with infrastructure projects.

Up to $4,500,000.00 shall be used for upgrades and improvements to the Greenville Downtown Corridor (Washington Avenue, Poplar Street, and Walnut Street).

Up to $146,310,510.00 shall be used to rehabilitate the city's sanitary sewer system to comply with a partial consent decree and improve the water system's distribution, production, metering, billing, and fire protection capabilities.

Bonds shall mature within 25 years, bear interest rates not exceeding limits in Mississippi Code Section 75-17-101, and are general obligations backed by the full faith and credit of the State of Mississippi.

Bond proceeds must be issued by July 1, 2029, and any remaining funds after project completion shall be applied to pay debt service on the bonds; bond income is exempt from Mississippi state taxation.