MS SB2812

Creates a revolving loan program administered by the Mississippi Development Authority to provide loans to rural counties (population ≤30,000) and rural municipalities (population ≤10,000) for emergency infrastructure repair, maintenance, construction, reconstruction, upgrades, and improvements.

Establishes the "Rural Counties and Municipalities Emergency Infrastructure Improvements Fund" in the State Treasury to hold loan funds and repayments, with funds retained annually rather than lapsing to the general fund.

Sets loan limits at a maximum of $250,000 per loan with a maximum term of five years, with applicants submitting project descriptions and cost information to the MDA.

Authorizes issuance of up to $10,000,000 in state general obligation bonds to capitalize the fund, with bonds backed by the full faith and credit of Mississippi and exempt from state taxation.

Bonds must be issued by July 1, 2029, and may mature within 25 years from issuance, with the State Bond Commission handling bond sales and the proceeds deposited directly into the infrastructure loan fund.