Bill > HB15

This bill authorizes the State of Mississippi to issue up to $5 million in general obligation bonds to provide financial assistance to the City of Natchez for five specific projects. These projects include: (1) constructing and developing the U.S. Colored Troops Monument and Natchez National Historic Park, (2) lighting the Mississippi River Bridge, (3) repairing and upgrading Morgantown Road and associated drainage improvements, (4) making repairs and upgrades to the Natchez-Adams County Airport, and (5) constructing a new loading dock at the Port of Natchez-Adams County. The State Bond Commission will manage the bond issuance, with each project receiving up to $1 million. The bonds will be general obligations of the state, meaning the state's full faith and credit is pledged to repay them, and they will be issued with a maximum maturity of 25 years. A special "2025 City of Natchez Projects Fund" will be created in the State Treasury to manage the bond proceeds, and any unused funds will ultimately be applied to debt service. The bill specifies that bonds can be issued until July 1, 2029, and the act will take effect on July 1, 2025.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0015.xml