Mississippi Legislature

1997 Regular Session

Senate Bill 2731

[Introduced]

Instructions Bill Status Menu





History of Actions

Background

Title

Description: Bonds; create General Obligation Bond Proceeds Anticipation Fund (DFA).

History of Actions:

101/20/97(S)Referred To Finance
202/04/97(S)Died In Committee

Background Information:

Effective datePassage
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo

Senate Committee:

Principal Author: Bryan

Code Section: A 027-0104-0027

Title: AN ACT TO CREATE THE GENERAL OBLIGATION BOND PROCEEDS ANTICIPATION FUND TO PROVIDE FUNDS TO BEGIN WORK ON CAPITAL IMPROVEMENT PROJECTS THAT ARE SPECIFICALLY AUTHORIZED TO BE FINANCED BY THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS PRIOR TO THE ISSUANCE OF SUCH BONDS; TO PROVIDE THAT UPON A DETERMINATION BY THE STATE BOND COMMISSION THAT IT IS ADVANTAGEOUS TO THE STATE THAT PROJECTS THAT ARE AUTHORIZED TO BE FINANCED BY THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS BE BEGUN PRIOR TO THE ISSUANCE OF SUCH GENERAL OBLIGATION BONDS FOR SUCH PROJECTS, THE STATE TREASURER SHALL GRANT A NONINTEREST-BEARING LOAN FROM THE STATE TREASURER'S GENERAL FUND/SPECIAL FUND POOL TO THE GENERAL OBLIGATION BOND PROCEEDS ANTICIPATION FUND IN THE AMOUNT THAT IS DETERMINED TO BE NECESSARY BY THE STATE BOND COMMISSION; TO REQUIRE THE STATE BOND COMMISSION TO REPAY THE FUNDS BORROWED WITH THE PROCEEDS OF THE BONDS ISSUED FOR THE PROJECTS FOR WHICH SUCH FUNDS WERE USED AS SOON AS POSSIBLE; TO AMEND SECTION 27-104-27, MISSISSIPPI CODE OF 1972, TO REMOVE SUCH FUND FROM THE APPROPRIATIONS PROCESS; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 01/20/97 at 17:54.



End Of Document

1997/History/SB\SB2731.htm