MS SB2123

Authorizes issuance of state general obligation bonds up to $500,000 to assist the Board of Supervisors of Yazoo County in paying costs of a drainage project.

Creates a special fund designated the "2025 Yazoo County Drainage Project Fund" within the State Treasury to receive bond proceeds and disburse funds for the drainage project costs.

Bonds may be issued at any time until July 1, 2029, with maturity not exceeding 25 years, interest rates not exceeding limits in Mississippi Code Section 75-17-101, and state full faith and credit pledged for payment.

Grants the State Bond Commission authority to determine bond terms, pricing method, and sale procedures, with proceeds transferred to the special fund under restrictions in the bond issuance resolution.

Any remaining funds after project completion shall be applied to pay debt service on the bonds, and investment earnings on fund amounts shall be used for debt service in accordance with bond issuance proceedings.