Mississippi House Bill HB1683

Mississippi 2023 Regular Session

• Introduced: 2/16/23
• Refer: 2/16/23
• Failed: 2/22/23

Caption

Bonds; authorize issuance to assist City of Gulfport wastewater treatment plant project.

Impact

The passage of HB1683 is anticipated to have a significant impact on infrastructure development within Gulfport, particularly in enhancing the wastewater treatment capabilities vital for environmental standards and public health. By approving these bonds, the state provides a mechanism for financing necessary improvements without immediate direct tax implications on residents. The establishment of a dedicated special fund to manage the funds generated from the bond sales is a crucial component of the bill, ensuring that the funds are allocated specifically for the project's costs.

Summary

House Bill 1683 aims to authorize the issuance of state general obligation bonds to finance improvements associated with the South Gulfport Wastewater Treatment Plant Project. The bill outlines the framework for the issuance of a total of up to sixty-one million dollars in bonds, intended to aid the City of Gulfport in addressing critical wastewater treatment needs. The bonds will be secured by the full faith and credit of the State of Mississippi, ensuring repayment through state funds if necessary.

Contention

Discussion surrounding the bill may center on financial implications and long-term liabilities linked to the issuance of such bonds. Critics may argue about the potential burden of repayment on state finances if projected revenues from the improved wastewater systems do not materialize or if unexpected costs arise. Others may highlight concerns over prioritization of funding and infrastructure projects, particularly in the context of other pressing state needs.