Bonds; authorize issuance to assist Bolivar County with Town of Alligator water and sewer project.
Impact
The bill establishes a special fund designated for the 2024 Bolivar County - Town of Alligator Water and Sewer Improvements, which will be managed separately from the state's general fund. It guarantees that any unspent portions of this fund will not revert to the general fund at the end of the fiscal year, hence ensuring that the allocated resources remain dedicated to the intended infrastructure projects. The implementation of this bill is anticipated to enhance the capacity and reliability of essential public utilities within the community.
Summary
House Bill 1713 authorizes the issuance of general obligation bonds for the state of Mississippi, specifically intended to fund water and sewer improvements in the Town of Alligator, located in Bolivar County. The legislation aims to support the town's urgent infrastructure needs, which are crucial for improving public health and safety through upgraded water and sewer systems. The total amount of bonds issued under this bill is capped at five million dollars, with funding aimed at covering various costs associated with the improvement project.
Contention
While the bill is primarily focused on providing essential improvements to local infrastructure, certain stakeholders may raise concerns regarding the fiscal implications of issuing general obligation bonds. Critics could question the long-term financial commitments involved, given that such bonds entail the state's full faith and credit for repayment. Additionally, local governments and residents might debate the prioritization of funding for Bolivar County over other regions with potentially competing infrastructure needs.
Local governments capital improvements revolving loan program; revise definition of "capital improvements", extend repealer on MDA authority to use certain funds for expenses.