Bonds; authorize issuance to assist Perry County with several projects at Sportsman Lake.
If enacted, HB1739 will allow for a total bond issuance not exceeding One Million Dollars to fund these projects. The funds will be managed through a designated special fund, which will be maintained separately from the state's General Fund. The management of the fund will involve oversight by the Department of Finance and Administration, which will have discretion regarding the disbursement of the funds for the outlined projects. The act stipulates that any unexpended funds at the end of the fiscal year will not revert to the General Fund but will remain available for future use related to the authorized projects.
House Bill 1739 is an act introduced in the Mississippi Legislature that authorizes the issuance of state general obligation bonds to provide financial assistance to Perry County. The primary purpose of the funding is to cover costs associated with the reconstruction of the principal and emergency spillways of the Sportsman Lake Dam, ensuring compliance with the Department of Environmental Quality's high hazard dam design standards. Additionally, the legislation aims to support the construction of various community-oriented projects, including a recreation community center, a nature and walking trail, and upgrades to the recreational vehicle parking areas and boat ramps at Sportsman Lake.
There may be potential points of contention associated with HB1739 regarding the long-term financial implications of issuing bonds and the associated debt for the state. The commitment of state bonds typically requires a strong consideration of taxes and budget priorities in the coming years. All bonds issued under this act will be deemed to be legal obligations of the State of Mississippi, backed by its full faith and credit. This funding method might raise discussions among legislators about prioritizing this project while balancing other needs within the state, especially regarding infrastructure funding across different regions.