Bill > HB829

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 funds for the City of Olive Branch to help pay for its Sylvan Lake Outflow Weir Project. The State Bond Commission, a body responsible for issuing state bonds, will manage the sale of these bonds, which cannot exceed $140,000 and must be issued before July 1, 2030. The proceeds will be placed in a dedicated fund, the "2026 City of Olive Branch Sylvan Lake Outflow Weir Fund," and disbursed to the city for project costs, with any remaining funds used to pay off the bonds. The bill also outlines the procedures for bond issuance, including their characteristics, legal standing as negotiable instruments, and tax-exempt status within Mississippi, and specifies that the act will take effect on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0829.xml