Bill > SB3050

This bill authorizes the State of Mississippi to issue general obligation bonds, which are essentially loans backed by the state's full faith and credit, to help Sharkey County and the Town of Rolling Fork pay for costs related to disaster recovery. For Sharkey County, up to $8 million in bonds can be issued to fund projects such as improving emergency management services, replacing damaged housing, constructing a new hospital, repairing the historic courthouse, widening U.S. Highway 61, developing an industrial park, attracting businesses, and implementing workforce development programs. For the Town of Rolling Fork, up to $3 million in bonds can be issued for similar disaster recovery efforts, including improvements to emergency management, constructing a new police department building, widening U.S. Highway 61, developing the industrial park, attracting businesses, and workforce development. The State Bond Commission, referred to as the "Commission," will oversee the issuance and sale of these bonds, with proceeds deposited into separate special funds for each entity. Any remaining funds after project completion will be used to pay off the debt on the bonds. The bill also outlines the procedures for bond issuance, including their maturity, interest rates, and legal standing, and specifies that these bonds will be exempt from state taxation.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB3050.xml