Bill > HB4063

This bill authorizes the State of Mississippi to issue up to $1,000,000 in state general obligation bonds to help the City of Cleveland fund its North Bayou Avenue improvement project, which involves clearing obstructions, widening, and lighting the road. The State Bond Commission, or "Commission," will manage the issuance and sale of these bonds, with the proceeds going into a dedicated fund called the "2026 City of Cleveland North Bayou Avenue Improvement Project Fund." Any remaining money in this fund after the project is completed will be used to pay off the bonds. The bonds are general obligations of the state, meaning the full faith and credit of Mississippi is pledged for their repayment, and they will mature within twenty-five years of their issuance. The bill also specifies that these bonds will be legal investments and exempt from state taxation, and it will take effect on July 1, 2026, with no bonds to be issued after July 1, 2030.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB4063.xml