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Bill > HB959
MS HB959
MS HB959Bonds; authorize issuance to assist Petal School District with improvements to Herrington Road.
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 Petal School District In Paying Costs Associated With Construction And Improvements To And Widening Of Herrington Road Near The Site Of The Proposed New Petal Elementary School In The City Of Petal; And For Related Purposes.
AI Summary
This bill authorizes the issuance of state general obligation bonds, which are essentially loans backed by the full faith and credit of the State of Mississippi, to provide up to $1,958,000 to the Petal School District for improvements to Herrington Road near the site of a proposed new elementary school. The State Bond Commission, a group responsible for issuing state bonds, will manage the sale of these bonds and transfer the proceeds to a dedicated fund, the "2026 Petal School District Herrington Road Fund," which will be used to pay for the road construction and widening. Any remaining funds in this special account after the road projects are completed will be used to pay off the debt incurred from the bonds. The bonds will mature within 25 years and cannot be issued after July 1, 2030, with the 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/HB0959.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/HB/0900-0999/HB0959IN.htm |
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