Mississippi HB616 authorizes the issuance of state bonds to fund water system line repairs in Bruce, Mississippi.
Mississippi HB616 establishes a special fund within the State Treasury to receive bond proceeds for water system line repairs in Bruce, Mississippi. The bonds, up to $250,000, are exempt from state taxation and backed by the state's full faith and credit. The State Bond Commission manages the bond issuance, sale, and disbursement of funds. The act specifies that the bonds are general obligations of the state, with interest payable semiannually or annually. The act takes effect from July 1, 2026, and bond issuance must cease by July 1, 2030.
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