Bill > HB356

This bill authorizes the State of Mississippi to issue up to $2 million in general obligation bonds to assist Holmes County with specific infrastructure improvements. The bonds will be issued by the State Bond Commission and will have a maximum maturity of 25 years, with interest rates not exceeding legal limits. The funds will be placed in a special "2025 Holmes County Roads and Buildings Improvements Fund" within the State Treasury, which can only be used for specific purposes: repairing, rehabilitating, resurfacing, and reconstructing county roads and streets, as well as improving county buildings and facilities through repairs, renovations, and upgrades. 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 shortfall from other available funds. The bonds will be exempt from state taxation, can be legally used as investments, and must be issued before July 1, 2029. Any unused funds in the special fund will ultimately be applied to debt service on the bonds. The State Bond Commission has broad authority to determine the specific terms of the bond issuance, including sale method, pricing, and other details.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0356.xml