MS SB3275

Increases the maximum authorized amount of bonds or notes that the Madison County Economic Development Authority or Madison County may issue from $12,000,000 to $25,000,000 for authorized economic development purposes.

Applies to bonds issued under Sections 4 through 10 of Chapter 947, Local and Private Laws of 1979, which govern the Authority's financing authority.

Maintains all existing provisions regarding bond issuance procedures, including election requirements, tax levy limitations (not to exceed 5 mills), and revenue allocation (90% for bond retirement, 10% for additional development purposes).

Takes effect upon passage.