Bill > HB108

This bill authorizes the State of Mississippi to issue general obligation bonds to provide financial assistance to the City of Rosedale for two primary purposes. The first purpose is to support the renovation and repurposing of two municipal buildings: the former Bolivar County Health Department building will become a new City Hall, and the current City Hall will be transformed into a new Police Department building. The city can use up to $1,050,000 for these improvements. The second purpose is to fund downtown infrastructure improvements, including sidewalks, street lighting, storm sewer, and water infrastructure, with up to $937,100 available for these projects. The State Bond Commission will manage the bond issuance, which must occur before July 1, 2029, with a total bond amount not exceeding $1,987,100. 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 exempt from state taxation. A special fund called the "2025 City of Rosedale Downtown Improvements Fund" will be created in the State Treasury to manage the bond proceeds, with any unused funds ultimately applied to debt service. The bill specifies detailed provisions for bond issuance, including interest rates, maturity terms, and validation procedures.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0108.xml