Bonds; authorize issuance to assist Town of Byhalia with infrastructure improvements.
Impact
Through the issuance of bonds not exceeding $600,000, the bill will provide the town with necessary resources for infrastructure enhancement. The bonds, which are fixed obligations of the State, affirm the state's commitment to support local municipalities in addressing infrastructure challenges. The act will be in force as of July 1, 2023. The bond proceeds will also not lapse into the General Fund at the end of any fiscal year, ensuring that funds remain available for the specific projects outlined.
Summary
House Bill 298 aims to authorize the State of Mississippi to issue general obligation bonds to aid the Town of Byhalia in funding infrastructure improvements. The bill stipulates the creation of a special fund known as the '2023 Town of Byhalia Infrastructure Improvements Fund', which will be used specifically for costs associated with the purchase, improvement, updating, replacement, and repair of sewer and water systems, public roads, and other critical infrastructure needs facing the town.
Contention
While HB 298 appears to primarily focus on infrastructure improvements, concerns may arise regarding the management and oversight of the funds disbursed through the special fund. Local residents and government representatives might question the allocation of resources, ensuring that the infrastructure improvements prioritized, directly align with the community's needs. The bill's support hinges on the perceived necessity and effectiveness of the infrastructure upgrades, which could spark discussions around municipal management and state involvement in local matters.
Local governments capital improvements revolving loan program; revise definition of "capital improvements", extend repealer on MDA authority to use certain funds for expenses.