Mississippi Legislature

1998 Regular Session

House Concurrent Resolution 152

[Introduced]

Instructions Bill Status Menu





History of Actions

Background

Title

Description: Suspend deadlines for introduction; Four-Lane Highway Program and Gaming Counties Infrastructure Program; combine funding.

History of Actions:

103/24/98(H)Referred To Rules
204/05/98(H)Died In Committee

Background Information:

Effective dateNO EFFECTIVE DATE
DispositionDead
DeadlineNone
RevenueNo
3/5ths vote requiredNo

House Committee:

Principal Author: Compretta

Title: A CONCURRENT RESOLUTION SUSPENDING THE DEADLINES FOR THE PURPOSE OF REQUESTING THE DRAFTING, AND THE INTRODUCTION, CONSIDERATION AND PASSAGE, OF A BILL ENTITLED "AN ACT TO AMEND SECTION 65-39-5, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE GENERAL OBLIGATION BONDS AUTHORIZED TO BE ISSUED TO PROVIDE FUNDS FOR COSTS INCURRED BY THE MISSISSIPPI TRANSPORTATION COMMISSION AND THE MISSISSIPPI DEPARTMENT OF TRANSPORTATION IN CONSTRUCTING AND RECONSTRUCTING HIGHWAYS AND PERFORMING PROJECTS UNDER THE GAMING COUNTIES INFRASTRUCTURE PROGRAM ALSO MAY BE ISSUED TO DEFRAY COSTS OF HIGHWAY PROJECTS UNDER THE FOUR-LANE HIGHWAY PROGRAM; TO AMEND SECTION 31-17-127, MISSISSIPPI CODE OF 1972, TO COMBINE THE DOLLAR AMOUNTS OF TEMPORARY BORROWINGS THAT SEPARATELY ARE AUTHORIZED TO BE MADE IN ORDER TO PROVIDE ADDITIONAL FUNDS AS MAY BE NECESSARY TO DEFRAY THE COSTS OF THE FOUR-LANE HIGHWAY PROGRAM AND THE GAMING COUNTIES INFRASTRUCTURE PROGRAM; TO LIMIT TO $200,000,000.00 THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF SUCH TEMPORARY BORROWINGS IF ANY GENERAL OBLIGATION BONDS ARE ISSUED FOR SUCH PURPOSES UNDER SECTIONS 65-39-5 THROUGH 65-39-33; TO REQUIRE THE MISSISSIPPI DEPARTMENT OF TRANSPORTATION TO MAINTAIN ITS FINANCIAL RECORDS IN SUCH A MANNER THAT ALL REVENUES DESIGNATED TO DEFRAY THE COSTS OF THE FOUR-LANE HIGHWAY PROGRAM AND THE GAMING COUNTIES INFRASTRUCTURE PROGRAM, INCLUDING PROCEEDS FROM TEMPORARY BORROWINGS AND FROM THE ISSUANCE OF BONDS, AND THAT ALL EXPENDITURES FOR SUCH PROGRAMS MAY BE ACCOUNTED FOR AND REPORTED SEPARATELY AND DISTINCTLY FOR EACH OF SUCH PROGRAMS; TO AMEND SECTION 65-39-3, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE "GAMING COUNTIES BOND SINKING FUND" SHALL BE RENAMED THE "GAMING COUNTIES AND FOUR-LANE HIGHWAYS BOND SINKING FUND," AND TO PROVIDE THAT MONIES IN THE FUND MAY BE EXPENDED TO PAY THE INTEREST AND PRINCIPAL OF BONDS ISSUED AND TEMPORARY BORROWINGS MADE TO DEFRAY THE COSTS OF THE GAMING COUNTIES INFRASTRUCTURE PROGRAM AND THE FOUR-LANE HIGHWAY PROGRAM; TO AMEND SECTION 65-39-17, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE "GAMING COUNTIES STATE-ASSISTED INFRASTRUCTURE FUND" SHALL BE RENAMED THE "GAMING COUNTIES INFRASTRUCTURE AND FOUR-LANE HIGHWAY PROGRAM FUND," AND TO PROVIDE THAT THE PROCEEDS OF BONDS ISSUED AND TEMPORARY BORROWINGS MADE TO DEFRAY THE COSTS OF THE GAMING COUNTIES INFRASTRUCTURE PROGRAM AND THE FOUR-LANE HIGHWAY PROGRAM SHALL BE DEPOSITED INTO THE FUND; TO AMEND SECTION 65-39-1, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT FUNDS FOR PROJECTS UNDER THE GAMING COUNTIES INFRASTRUCTURE PROGRAM MAY BE PROVIDED FROM SUCH MONIES AS MAY BE AVAILABLE IN THE GAMING COUNTIES INFRASTRUCTURE AND FOUR-LANE HIGHWAY PROGRAM FUND AND FROM SUCH OTHER REVENUES OR SOURCES AS MAY BE AUTHORIZED BY LAW TO DEFRAY THE COSTS OF THE FOUR-LANE HIGHWAY PROGRAM; TO AMEND SECTION 27-5-101, MISSISSIPPI CODE OF 1972, TO EXTEND UNTIL AUGUST 15, 2012, THE DATE AFTER WHICH A PORTION OF THE PROCEEDS FROM MOTOR FUEL EXCISE TAXES SHALL BE DEPOSITED INTO THE GAMING COUNTIES AND FOUR-LANE HIGHWAYS BOND SINKING FUND TO PAY THE PRINCIPAL AND INTEREST ON BONDS ISSUED AND TEMPORARY BORROWINGS MADE TO DEFRAY THE COSTS OF THE GAMING COUNTIES INFRASTRUCTURE PROGRAM AND THE FOUR-LANE HIGHWAY PROGRAM; TO AMEND SECTIONS 65-39-15 AND 69-39-35, MISSISSIPPI CODE OF 1972, IN CONFORMITY TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES."


Information pertaining to this measure was last updated on 04/06/98 at 12:59.



End Of Document

1998/History/HC\HC0152.htm