Bill > HB156

This bill authorizes the State of Mississippi to issue up to $600,000 in general obligation bonds to help the City of Pearl fund the construction and installation of a traffic signal at the intersection of Mississippi Highway 468 and Murray Drive. The State Bond Commission will manage the bond issuance process, determining details like interest rates, maturity dates, and sale method, with bonds to be repaid using the state's full faith and credit. A special "2025 City of Pearl, Mississippi Highway 468/Murray Drive Traffic Signal Fund" will be created in the State Treasury to receive the bond proceeds, and the Department of Finance and Administration will disburse funds to the city for the traffic signal project. The bonds will be considered legal investments, exempt from state taxation, and can be issued anytime before July 1, 2029. If the project is completed, abandoned, or cannot be completed in a timely manner, any remaining funds will be applied to pay debt service on the bonds. The bill provides detailed provisions for bond issuance, validation, and repayment, ensuring a structured and transparent process for funding this local infrastructure improvement.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0156.xml