Bill > HB502

This bill authorizes the issuance of state general obligation bonds to provide funding for various projects in Washington County, Mississippi, totaling up to $4,693,200. The specific projects include road improvements and repairs at several locations such as Old Leland Road, California Street/Robertshaw Road, U.S. Highway 61 and Mississippi Highway 12 intersection, North Broadway Street, and safety-related renovations at Simmons High School and Paul Love, Jr., Park. The State Bond Commission will manage the bond issuance, with funds to be deposited into a special "2025 Washington County Projects Fund" within the State Treasury. The bonds will be general obligations of the state, backed by the full faith and credit of Mississippi, and can be issued without additional proceedings. The bonds will have a maximum maturity of 25 years, bear interest at rates not exceeding legal limits, and will be exempt from state taxation. Any unused funds will ultimately be applied to debt service on the bonds. The bill specifies that no bonds can be issued after July 1, 2029, and provides detailed provisions for the bond issuance, validation, and management process.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0502.xml