History of Actions | Background | Title |
Description: Bonds; create General Obligation Bond Proceeds Anticipation Fund (DFA).
| 1 | 01/20/97 | (S) | Referred To Finance | |
| 2 | 02/04/97 | (S) | Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
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.
End Of Document
1997/History/SB\SB2731.htm