Bill > HB499

This bill authorizes the State of Mississippi to issue up to $150,810,510 in general obligation bonds to provide financial assistance to the City of Greenville for two major infrastructure projects. Specifically, the bonds will fund: (1) up to $4.5 million for upgrades and improvements to the Greenville Downtown Corridor, which includes Washington Avenue, Poplar Street, and Walnut Street; and (2) up to $146,310,510 to help the city rehabilitate its sanitary sewer system to comply with a partial consent decree and make upgrades to its water system, including improvements to distribution, production, metering, billing, and fire protection systems. The State Bond Commission will manage the bond issuance, with bonds not to exceed 25 years in maturity and bearing interest rates within legal limits. A special "2025 City of Greenville Infrastructure Projects Fund" will be created in the State Treasury to receive and disburse the bond proceeds, with any unused funds ultimately applied to debt service. The bonds are backed by the full faith and credit of the State of Mississippi, meaning the state will guarantee payment, and no bonds can be issued after July 1, 2029. The bill also specifies that the bonds will be tax-exempt and can be validated through the Chancery Court of Hinds County.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0499.xml