Bill > HB1979

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 Calhoun County pay for the repair and resurfacing of County Road 102. The funds will be held in a special account called the "2026 Calhoun County - County Road 102 Repair Fund" and will be disbursed by the Department of Finance and Administration. Any remaining funds after the road project is completed will be used to pay back the bonds. The State Bond Commission, a group responsible for issuing state bonds, will manage the sale of these bonds, which must be issued before July 1, 2030. The bill also outlines the procedures for issuing and validating these bonds, ensuring they are legal investments and exempt from state taxes, and specifies that this act provides full authority for issuing these bonds without repealing existing bond laws. This legislation will take effect on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB1979.xml