Bill > SB3187

This bill authorizes the State of Mississippi to issue up to $2,000,000 in state general obligation bonds to help the City of West Point pay for renovations to its Water and Light Department Administrative Building. The bonds, which will be managed by the State Bond Commission, will be general obligations of the state, meaning the full faith and credit of Mississippi is pledged for their repayment, and they will mature within 25 years of their issuance, with no bonds being issued after July 1, 2030. Proceeds from the bond sales will be placed in a dedicated fund, the "2026 West Point Water and Light Department Administrative Building Renovation Fund," and disbursed to West Point for renovation costs, with any remaining funds to be used for debt service on the bonds. The bill also outlines the procedures for issuing, selling, and validating these bonds, and specifies that they will be exempt from state taxation and legal for investment by certain financial institutions.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB3187.xml