HB4053

Mississippi HB4053 authorizes the issuance of state bonds to fund street repairs and infrastructure improvements in Moorhead.

Mississippi HB4053 allows the State Bond Commission to issue up to $800,000 in general obligation bonds to assist the Town of Moorhead with street repairs and infrastructure improvements. The bonds are exempt from state taxation and can be sold through sealed bids or negotiated sales. A special fund, the "2026 Town of Moorhead Infrastructure Fund," is created to manage the bond proceeds. The bonds mature within 25 years and can be redeemed before maturity. The act authorizes the State Treasurer to pay bond principal and interest from the fund or other state funds if necessary.