MS HB1146

Authorizes issuance of up to $425,000 in Mississippi general obligation bonds to assist East Madison Water Association with constructing a new water well and related facilities and installing an automatic meter reading system

Creates the "2026 East Madison Water Association System Fund" within the State Treasury to hold bond proceeds, with funds remaining separate from the General Fund and not lapsing at fiscal year end

Bonds may have a maximum maturity of 25 years and are backed by the full faith and credit of the State of Mississippi

Bonds and income from them are exempt from all Mississippi state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies

No bonds may be issued under this act after July 1, 2030, and the act takes effect July 1, 2026