SB2827

Establishes a loan program for rural counties and municipalities to fund emergency infrastructure improvements.

Mississippi SB2827 creates a revolving loan program to assist rural counties and municipalities with emergency infrastructure repairs, maintenance, construction, and improvements. The Mississippi Development Authority administers the program, which allows loans up to $250,000 for up to five years. The program is funded by up to $10,000,000 in state general obligation bonds, with proceeds deposited into the Rural Counties and Municipalities Emergency Infrastructure Improvements Fund. The bonds are exempt from state taxes, and the full faith and credit of the state is pledged for their payment.