Bill > HB1868

This bill authorizes the State of Mississippi to issue up to $2 million in general obligation bonds to help Noxubee County develop a 100-acre multi-industrial site. The bonds will be issued by the State Bond Commission and can be sold through public sealed bids or negotiated sales, with interest rates not exceeding legal limits and a maximum maturity of 25 years. A special "2025 Noxubee County Multi-Industrial Site Project Fund" will be created in the State Treasury to receive the bond proceeds, which can be used for site preparation, utility installation, access road construction, and environmental compliance. The bonds are considered general obligations of the state, meaning the full faith and credit of Mississippi 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 legally exempt from state taxation, can be used as legal investments, and can be validated through the Chancery Court. The bill specifies that bond issuance can occur until July 1, 2029, and the act itself will take effect on July 1, 2025.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB1868.xml