Bill > HB1146

This bill authorizes the State of Mississippi to issue up to $425,000 in state general obligation bonds, which are essentially loans backed by the full faith and credit of the state, to help the East Madison Water Association fund the construction of a new water well and related facilities, as well as the installation of an automatic meter reading system, which allows for remote and automated water usage measurement. The funds for these projects will be held in a dedicated "2026 East Madison Water Association System Fund" within the State Treasury, and any remaining money after project completion will be used to pay off the debt incurred from the bonds. The State Bond Commission, acting as the issuing agent, will manage the sale of these bonds, which must be issued before July 1, 2030, and the act specifies that these bonds will be exempt from state taxation and are considered legal investments for various financial institutions.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB1146.xml