Bill > HB616

This bill authorizes the State of Mississippi to issue up to $250,000 in general obligation bonds to help the Town of Bruce pay for repairs to its water system lines. The State Bond Commission, referred to as the "Commission," will manage the issuance and sale of these bonds, which are backed by the full faith and credit of the state and must be repaid within 25 years of their issue date, with no bonds being issued after July 1, 2030. The proceeds will be placed in a special fund called the "2026 Town of Bruce Water System Line Repairs Fund," and any remaining money after the repairs are completed will be used to pay off the bonds. The bill also specifies that these bonds will be legal investments and exempt from state taxes, and it outlines the procedures for their validation and enforcement.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0616.xml