Bonds; authorize issaunce to assist City of Baldwyn with improvements to Carrollville Avenue.
Impact
The bill establishes a special fund specifically for this project, which will be managed by the Department of Finance and Administration. Monies deposited in this fund will be disbursed at the discretion of the department to ensure that costs associated with the drainage improvements and paving are adequately covered. Importantly, the act stipulates that any unspent funds at the end of the fiscal year will not revert to the general state fund, ensuring that resources remain allocated specifically for this improvement project.
Summary
House Bill 94 authorizes the issuance of state general obligation bonds intended to finance drainage improvements and pavement work on Carrollville Avenue in Baldwyn, Mississippi. The total amount of bonds issued under this bill is set not to exceed $719,040, with the issuance scheduled to be completed by July 1, 2028. The funds will assist the City of Baldwyn in undertaking necessary infrastructure enhancements that are critical to improving its local road systems and drainage capacities.
Contention
There may be discussions around the financial implications of issuing such bonds, including concerns about the state's ability to guarantee their repayment. This bill also reflects broader state interests in local infrastructure. Supporters may emphasize the necessity of improving drainage to prevent flooding and enhance road safety, while opponents could question the prioritization of funds on a specific city compared to broader infrastructure needs across Mississippi as a whole.