History of Actions | Background | Title |
Description: Four-lane Highway Program; provide for issuance of refunding bonds for temporary borrowings.
| 1 | 01/25/99 | (H) | Referred To Transportation;Ways and Means | |
| 2 | 02/24/99 | (H) | Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | Revenue/Appropriation | |
| Revenue | Yes | |
| 3/5ths vote required | Yes |
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.
End Of Document
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