Bill > HB405

This bill authorizes the State of Mississippi to issue up to $4,693,200 in general obligation bonds to assist Washington County with several specific infrastructure and park projects. The bond proceeds will be deposited into a special "2025 Washington County Projects Fund" and allocated as follows: $1,400,000 for paving Old Leland Road, $1,200,000 for paving California Street, $200,000 for road improvements near U.S. Highway 61 and Mississippi Highway 12, $270,790 for renovating Paul Love, Jr., Park, $75,000 for a traffic warning system at Simmons High School, and $1,547,410 for paving North Broadway Street. The State Bond Commission will manage the bond issuance, which will have a maximum maturity of 25 years and bear interest at rates not exceeding legal limits. The bonds are considered general obligations of the state, meaning the state's full faith and credit is pledged to repay them, and if legislative appropriations are insufficient, the State Treasurer will cover any shortfalls. The bonds will be tax-exempt and can be used as legal investments, and any unused funds will ultimately be applied to debt service. The bond issuance authorization expires on July 1, 2029.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0405.xml