Bill > HB4090

This bill authorizes the State of Mississippi to issue up to $50 million in general obligation bonds, which are essentially loans backed by the state's full faith and credit, to fund the 2026 Local Governments Disaster Recovery Emergency Loan Fund. This fund, established by another bill (Senate Bill No. 2632), is intended to provide emergency loans to local governments that have been impacted by disasters. The bonds can be issued until July 1, 2030, and their proceeds, along with any investment earnings, will be used to support these disaster recovery loans. The State Bond Commission, a body responsible for managing state debt, will oversee the issuance and sale of these bonds, determining their terms, interest rates, and maturity dates, which cannot exceed 25 years. The bill also outlines procedures for bond validation, legal protections for bondholders, and designates these bonds as legal investments and tax-exempt within Mississippi.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB4090.xml