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Bill > HB773
MS HB773
MS HB773Bonds; authorize issuance to assist City of Cleveland with improvements to the Cleveland Municipal Airport.
summary
Introduced
01/16/2026
01/16/2026
In Committee
01/16/2026
01/16/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act To Authorize The Issuance Of State General Obligation Bonds To Provide Funds To Assist The City Of Cleveland, Mississippi, In Paying Costs Associated With Repairs, Upgrades And Improvements To Land And Infrastructure At The Cleveland Municipal Airport In Bolivar County, Mississippi; And For Related Purposes.
AI Summary
This bill authorizes the State of Mississippi to issue up to $1,200,000 in general obligation bonds, which are essentially loans backed by the state's full faith and credit, to help the City of Cleveland fund necessary repairs, upgrades, and improvements to its municipal airport. The State Bond Commission, referred to as the "Commission," will manage the issuance and sale of these bonds, with the proceeds going into a dedicated fund called the "2026 Cleveland Municipal Airport Improvements Fund." This fund will be used to pay for the airport projects, and any remaining money after the projects are completed will be used to pay back the bond debt. The bonds will mature within 25 years and will be exempt from state taxes. The State Treasurer will ensure funds are available to pay the bondholders, and the act specifies that no bonds can be issued after July 1, 2030, with the entire act taking effect on July 1, 2026.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred To Ways and Means (on 01/16/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0773.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/HB/0700-0799/HB0773IN.htm |
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