Bill > HB476

This bill authorizes the State of Mississippi to issue up to $5 million in general obligation bonds to provide financial assistance to Coahoma County for the Town of Jonestown's 2025 Water and Sewer Improvement Project. The bill establishes a special fund within the State Treasury called the "2025 Coahoma County - Town of Jonestown Water and Sewer Improvements Fund" to receive and manage the bond proceeds. The State Bond Commission will oversee the issuance of these bonds, which can be sold through public sealed bids or negotiated sales, with interest rates not exceeding legal limits and a maximum maturity of 25 years. The bonds are considered general obligations of the state, backed by its full faith and credit, meaning if appropriated funds are insufficient to cover principal and interest payments, the State Treasurer can use other unappropriated funds to make up the difference. The bonds will be tax-exempt and can be used as legal investments. The bill specifies that any unused funds in the special fund after project completion will be applied to debt service on the bonds, and no bonds can be issued after July 1, 2029. The legislation aims to support critical water and sewer infrastructure improvements in the Town of Jonestown within Coahoma County.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0476.xml