Mississippi House Bill HB1765

Mississippi 2023 Regular Session

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

Caption

Bonds; authorize issuance to assist Greene County with overlay of a segment of Old Highway 63.

Impact

The act introduces a new fund known as the '2023 Greene County Old Highway 63 Improvements Fund,' which will be maintained separately from the state’s General Fund. Notably, any funds that remain unspent at the end of a fiscal year will not revert to the General Fund, allowing Greene County to ensure continued support for ongoing or future projects. The legislation also specifies that investment earnings on the fund shall contribute to the road improvement projects, thus providing a continuous support mechanism for infrastructure development.

Summary

House Bill 1765 is designed to facilitate the issuance of state general obligation bonds aimed at financially supporting Greene County, Mississippi. The allocation of these funds is specifically earmarked for the overlay and upgrades of a segment of Old Highway 63, enhancing the road's infrastructure to improve safety and accessibility for the local community. This initiative indicates a focus on improving county-level infrastructure while utilizing state-level financial mechanisms.

Contention

While the bill's intent is to bolster local infrastructure, discussions around its approval may revolve around the financial implications of issuing state bonds. Critics might express concerns regarding long-term debt obligations and the prioritization of road improvements over other pressing county needs. Furthermore, the necessity for legislative oversight in the bond issuance process could be a point of debate, as it ensures accountability and efficient use of taxpayer funds.