HB582

Authorizes the issuance of state bonds to fund water shut off replacements in the Town of Bruce, Mississippi.

Mississippi HB582 authorizes the issuance of state general obligation bonds to provide funds for the Town of Bruce to cover costs associated with water shut off replacements. The bonds, up to $200,000, can be issued until July 1, 2030. The proceeds will be deposited into a special fund, the "2026 Town of Bruce Water Cut off Replacements Fund," which will be maintained separately from the state's General Fund. Any unexpended amounts at the end of a fiscal year will not lapse into the General Fund, and any interest earned will be reinvested into the fund.