Bonds; authorize issuance to assist Clay, Lowndes and Oktibbeha Counties with certain road projects.
The bill designates a special fund called the '2023 Clay County, Lowndes County and Oktibbeha County Road Improvement Fund' to manage the disbursement of the allocated funds. The total amount available through the issuance of the bonds shall not exceed $7,598,600, and the changes made by this act are set to take effect from July 1, 2023. This funding is crucial for local governments to manage their infrastructure needs and ensure road safety and accessibility for residents.
House Bill 642 is a legislative act aimed at authorizing the issuance of state general obligation bonds. The purpose of these bonds is to provide funding to assist Clay County, Lowndes County, and Oktibbeha County, Mississippi, in meeting various costs associated with several road improvement projects. This act is particularly significant as it outlines the specific financial allocations for different projects, including expansions of major roadways and improvements to intersections, all aimed at enhancing local infrastructure.
Notably, House Bill 642 specifies the breakdown of funds for each county, stating maximum amounts that may be used for specific projects, such as the construction of roadways and improvements to intersections. This detailed allocation might lead to discussions or debates regarding the prioritization of infrastructure projects within these communities. Furthermore, ensuring that the funds are used efficiently for the intended projects will be crucial in monitoring the bill's success.