Bill > SB3044

This bill authorizes the State of Mississippi to issue up to $1,000,000 in general obligation bonds to help Clay County fund the overlay of Waverly Road, with the bonds to be repaid using the full faith and credit of the state and not to be issued after July 1, 2030. The bill establishes a dedicated fund, the "2026 Clay County Waverly Road Overlay Fund," within the State Treasury to hold the bond proceeds, which will be disbursed by the Department of Finance and Administration to assist Clay County with the road project costs. Any remaining funds in this special account after the road project is completed, abandoned, or deemed unfeasible will be used to pay off the debt service on the issued bonds. The State Bond Commission, referred to as the "Commission," will manage the issuance and sale of these bonds, and the bill outlines the procedures for their sale, redemption, and legal standing, including their exemption from Mississippi taxation and their suitability as investments for fiduciaries.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB3044.xml