MS HB736

Authorizes the issuance of state general obligation bonds not to exceed $1,486,100 to assist the City of Okolona with construction, engineering, and related costs for overlaying 11 specified streets including Park Lane, Adams Avenue, Murphy Street, Chenault Street, Hawkins Street, Forest Drive, Lee Circle, Dawson Street, Okolona Terrace, Gatlin Street, and Hillcrest Street.

Creates a special fund called the "2025 City of Okolona Street Overlay Fund" within the State Treasury to receive bond proceeds and disburse them for the street overlay projects.

Bonds may mature up to 25 years from issuance, bear interest at rates not exceeding statutory limits, and are backed by the full faith and credit of the State of Mississippi.

All bonds issued under this act are exempt from Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, and financial institutions.

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