Bill > HB617

This bill authorizes the State of Mississippi to issue up to $250,000 in general obligation bonds, which are state-backed debts, to help the Town of Bruce fund necessary repairs, upgrades, and improvements to its sewer system. The State Bond Commission (the "commission") will manage the issuance and sale of these bonds, with the proceeds going into a dedicated fund called the "2026 Town of Bruce Sewer System Fund." This fund will be overseen by the State Treasurer and used to pay for the sewer system projects, and any remaining money after the projects are completed will be used to pay off the bonds. The bonds will be a direct obligation of the state, meaning the full faith and credit of Mississippi is pledged for their repayment, and they will mature within 25 years of their issuance, with no bonds being issued after July 1, 2030. The bill also specifies that these bonds will be exempt from state taxes and can be used by various financial institutions for investment purposes. This act will take effect on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0617.xml