Bill > HB1826

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 $25,000 to assist the City of Itta Bena with road improvements, repairs, and upgrades. The funds will be held in a special account called the "2026 City of Itta Bena Road Improvements Fund" and managed by the State Treasurer. The State Bond Commission, a group responsible for issuing state bonds, will oversee the sale and issuance of these bonds, which must be issued before July 1, 2030, and will mature within twenty-five years. Any remaining funds in the special account after the road projects are completed will be used to pay off the debt on the bonds. The bill also specifies that these bonds are exempt from state taxation and can be used by various financial institutions and public bodies for investment and security purposes.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB1826.xml