Bill > SB2144

This bill authorizes the State of Mississippi to issue general obligation bonds to help Sharkey County and the Town of Rolling Fork recover from disaster damage, specifically the tornado that occurred on March 24, 2023. For Sharkey County, the state will issue up to $8 million in bonds to fund projects including emergency management services improvements, housing replacement, hospital construction and healthcare facility repairs, courthouse restoration, highway widening, industrial park development, and workforce initiatives. Similarly, for the Town of Rolling Fork, the state will issue up to $3 million in bonds to support emergency management services, police department building construction, highway improvements, industrial park development, and business attraction efforts. The bonds will be managed by the State Bond Commission, will have a maximum maturity of 25 years, and can be issued until July 1, 2029. The funds will be deposited into special state treasury funds specific to each jurisdiction, with any unused funds ultimately applied to debt service on the bonds. The bonds are general obligations of the state, meaning the state's full faith and credit is pledged to repay them, and they will be exempt from state taxation. The bill provides detailed provisions for bond issuance, sale, and management, ensuring transparency and proper use of the funds for disaster recovery and community rebuilding.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/SB/SB2144.xml