Bill > HB1353

This bill authorizes the State of Mississippi to issue up to $1,000,000 in state general obligation bonds, which are essentially loans backed by the full faith and credit of the state, to help the Town of Byhalia fund infrastructure improvements. These improvements can include purchasing, upgrading, replacing, or repairing essential services like sewer and water systems, public roads, and other necessary infrastructure. The State Bond Commission, a group responsible for managing state debt, will oversee the issuance and sale of these bonds, with the proceeds going into a dedicated fund called the "2026 Town of Byhalia Infrastructure Improvements Fund." Any remaining money in this fund after the projects are completed will be used to pay off the bonds. The bonds will mature within 25 years and will be exempt from state taxes, and the act specifies that no bonds can be issued under this authority after July 1, 2030, with the entire act taking effect on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB1353.xml