Mississippi Legislature

1999 Regular Session

House Bill 1507

[Introduced]

Instructions Bill Status Menu




History of Actions

Background

Title

Description: Four-lane Highway Program; provide for issuance of refunding bonds for temporary borrowings.

History of Actions:

101/25/99(H)Referred To Transportation;Ways and Means
202/24/99(H)Died In Committee

Background Information:

Effective datePassage
DispositionDead
DeadlineRevenue/Appropriation
RevenueYes
3/5ths vote requiredYes

House Committees:

Principal Author: Compretta

Code Sections: A 031-0017-0127, A 027-0104-0027, A 027-0005-0101, A 027-0019-0099, A 027-0019-0325, A 027-0057-0037, A 027-0065-0075, A 065-0039-0035

Title: AN ACT TO AMEND SECTION 31-17-127, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE STATE BOND COMMISSION TO ISSUE REFUNDING NOTES OR BONDS THAT MATURE NOT MORE THAN TEN YEARS FROM THE DATE OF ISSUANCE TO REFUND TEMPORARY BORROWINGS MADE TO FUND CONSTRUCTION PRIORITIES OF THE FOUR-LANE HIGHWAY PROGRAM; TO PROVIDE THAT SUCH REFUNDING BONDS OR NOTES SHALL BE FUNDED AND RETIRED BY PLEDGES OF CERTAIN FEDERAL AID GRANT REIMBURSEMENTS AND STATE TAX REVENUE DESIGNATED TO FUND THE FOUR-LANE HIGHWAY PROGRAM; TO CREATE THE FOUR-LANE HIGHWAY TRUST FUND AND TO REQUIRE THE PLEDGED FUNDS TO BE DEPOSITED INTO SUCH FUND UNTIL THERE IS AN AMOUNT EQUAL TO THE NEXT TWO DEBT SERVICE REQUIREMENTS OF THE REFUNDING NOTES OR BONDS; TO REQUIRE THAT AMOUNTS IN THE FOUR-LANE HIGHWAY TRUST FUND IN EXCESS OF THE REQUIRED BALANCE SHALL BE TRANSFERRED BY THE STATE TREASURER TO THE STATE HIGHWAY FUND; TO AMEND SECTION 27-104-27, MISSISSIPPI CODE OF 1972, TO EXEMPT THE FOUR-LANE HIGHWAY TRUST FUND FROM THE REQUIREMENT OF AN APPROPRIATION; TO AMEND SECTIONS 27-5-101, 27-19-99, 27-19-325, 27-57-37, 27-65-75 AND 65-39-35, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/24/99 at 14:26.



End Of Document

1999\pdf\History/HB\HB1507.htm