Municipalities and counties trails program; create and authorize issuance of bonds to provide funds for.
Impact
The legislation creates a special fund called the 'Municipalities and Counties Trails Fund' within the state treasury, specifically intended for funding established trail projects. The MDA will have the authority to issue general obligation bonds to raise funds for this initiative, allowing for a total issuance cap of up to one million dollars. This fund will not just serve for the initial grant allocation but can also capitalize on investment earnings, ensuring that funds are available year after year to support local trail initiatives.
Summary
House Bill 692 establishes a grant program administered by the Mississippi Development Authority (MDA) to support municipalities and counties in the development and promotion of trails and related activities. The bill aims to facilitate tourism and overall economic development by enhancing public access to various types of trails. This includes bicycle trails, hiking trails, horse riding trails, and more, with grants accessible to local governments seeking to create or improve these amenities.
Contention
While the bill may positively impact local economies and promote healthier lifestyles through outdoor activities, there may be concerns regarding the reliance on state-issued bonds for funding. Stakeholders may debate aspects of fiscal responsibility and the allocation of public funds, particularly in how grant applications will be managed and if all municipalities will have equitable access to these funds. Moreover, the bill emphasizes the need for local governments to declare their intent to apply, which could inhibit smaller or less resourced municipalities from participating effectively.