Mississippi 2024 Regular Session

Mississippi House Bill HB1198

Introduced
2/14/24  
Refer
2/14/24  

Caption

Bonds; authorize issuance to assist City of Pearl with U.S. Highway 80 lighting project.

Impact

The passage of HB 1198 is significant for local infrastructure development in Mississippi, as it establishes a special fund specifically for the U.S. Highway 80 lighting project. The legislation stipulates that the funds appropriated shall not lapse into the State General Fund, ensuring that resources are dedicated explicitly for the highway improvements. Additionally, the bill proposes that any interest earned on the fund will be reinvested for the same purpose, further enhancing the funding efficiency for the project.

Summary

House Bill 1198 authorizes the issuance of state general obligation bonds to provide funding assistance for the City of Pearl, Mississippi. Specifically, the bill allocates financial resources aimed at the construction, reconstruction, upgrades, and improvements to U.S. Highway 80, beginning at or near Pearson Road and extending to near Pirate Cove. This project is part of the city's broader effort to enhance the lighting along this vital roadway.

Contention

Despite the apparent benefits, there could be contention surrounding the bill regarding the prioritization of state funds and the potential limitations on financial resources for other projects. Some stakeholders may raise concerns about the adequacy of scrutiny in bond issuance, particularly in the context of emergencies or shifting community needs. The bill also sets a timeline for bond issuance, with a closure date after July 1, 2028, raising questions about long-term funding sustainability and whether future developments will require adjustments to this legislation.

Companion Bills

No companion bills found.

Previously Filed As

MS HB44

Bonds; authorize issuance to assist City of Pearl with U.S. Highway 80 lighting project.

MS HB43

Bonds; authorize issuance to assist City of Pearl with improvements to city hall.

MS HB1647

Bonds; authorize issuance to assist City of Tupelo with a center railroad projects.

MS HB1535

Bonds; authorize issuance to assist City of New Albany with signage project.

MS HB47

Bonds; authorize issuance to assist City of Pearl with construction of a bridge.

MS HB637

Bonds; authorize issuance to assist City of Starkville with certain drainage projects.

MS HB1685

Bonds; authorize issuance to assist City of Gulfport with its commerce corridor project.

MS HB737

Bonds; authorize issuance to assist City of Holly Springs with improvements to Mississippi Highway 178.

MS HB213

Bonds; authorize issuance to assist Prentiss County with bridge projects.

MS HB437

Bonds; authorize issuance to assist City of Baldwyn with County Road 170 gas line extension project.

Similar Bills

MS SB2702

Mississippi Farm Reform Act; extend authority for issuance of general obligation bonds for Emerging Crops Fund.

MS SB2719

Workforce enhancement training fund; authorize use for workforce-related postsecondary education programs.

MS SB2286

Workforce Enhancement Training Fund contributions; provide for suspensions under certain circumstances.

MS HB1567

Workforce development; revise various provisions related to.

MS HB1461

Local governments capital improvements revolving loan program; revise definition of "capital improvements", extend repealer on MDA authority to use certain funds for expenses.

MS SB2856

Local Governments Capital Improvements Revolving Loan Program; include any project MDA deems a capital improvement.

MS HB1442

Conservatorship; revise required certificates for respondents in the State Hospital at the time of the petition.

MS HB1165

Mississippi Small Business Assistance Revolving Loan Program; establish.