Mississippi 2025 Regular Session

Mississippi House Bill HB356

Introduced
1/10/25  
Refer
1/10/25  

Caption

Bonds; authorize issuance to assist Holmes County with improvements to county roads and buildings.

Impact

If passed, the bill will authorize the State Bond Commission to issue bonds that are secured by the full faith and credit of the State of Mississippi. This means that in instances where the allocated funds are insufficient to cover bond repayments, the State Treasurer can draw from other unappropriated state funds to fulfill these financial obligations. The bond's interest and principal payments are structured to be paid over a maximum term of twenty-five years, offering a considerable period for repayment under manageable terms.

Summary

House Bill 356 proposes the issuance of state general obligation bonds aimed at funding improvements in Holmes County, Mississippi. The purpose of the bill is to allocate $2 million to assist in covering the costs of road and street improvements as well as enhancements to county buildings and facilities. The bill establishes a special fund named the '2025 Holmes County Roads and Buildings Improvements Fund' to manage these finances. Importantly, these funds can be utilized for a range of construction and improvement projects that include repair and renovation efforts.

Contention

Notable points of contention around this bill may arise regarding the reliance on general obligation bonds and the long-term implications for state debt. Critics may question the sustainability of such funding approaches, especially in light of potential economic fluctuations affecting state revenue. Furthermore, there may be discussions about whether such investments sufficiently address the broader needs of the local population, particularly concerning infrastructure improvements and whether the fund can be effectively managed to meet its intended goals.

Companion Bills

No companion bills found.

Previously Filed As

MS HB123

Bonds; authorize issuance to assist Holmes County with improvements to county roads and buildings.

MS HB212

Bonds; authorize issuance to assist Holmes County with improvements to county roads and buildings.

MS HB1736

Bonds; authorize issuance to assist Perry County with making upgrades and improvements to three county roadways.

MS HB1504

Bonds; authorize issuance to assist Claiborne County with improvements to county library building.

MS HB1501

Bonds; authorize issuance to assist Claiborne County with road improvements.

MS HB1231

Bonds; authorize issuance to assist Claiborne County with road improvements.

MS HB1724

Bonds; authorize issuance to assist Franklin County with road improvements.

MS HB1495

Bonds; authorize issuance to assist Union County with improvements to the Union County Courthouse.

MS HB430

Bonds; authorize issuance to assist Prentiss County with road and bridge improvements.

MS HB1761

Bonds; authorize issuance to assist Panola County with improvements at the Panola County Airport.

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 HB1165

Mississippi Small Business Assistance Revolving Loan Program; establish.

MS HB1442

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