Bill Text | History of Actions | Background | Title |
Description: Counties, municipalities and other political subdivisions; revise provisions regarding certain bonds and indebtedness.
Bill Text: [Introduced]
| 1 | 01/10 (H) Referred To Ways and Means | |
| 2 | 01/31 (H) Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Three/Fifths |
House Committee:
Principal Author: Reynolds
Code Sections: A 017-0021-0051, A 017-0021-0053, A 031-0015-0007, A 031-0015-0009, A 031-0015-0017, A 031-0015-0021, A 031-0015-0025
Title: AN ACT TO AMEND SECTIONS 17-21-51 AND 17-21-53, MISSISSIPPI CODE OF 1972, TO REVISE THE PURPOSES FOR WHICH COUNTIES AND MUNICIPALITIES LOCATED IN THE SIX MOST SOUTHERN COUNTIES OF THE STATE COVERED BY THE PRESIDENTIAL DECLARATION OF MAJOR DISASTER FOR THE STATE OF MISSISSIPPI DATED AUGUST 29, 2005, AND FORREST AND JONES COUNTY FOR REASONS RELATED TO SUCH DISASTER, MAY ISSUE CERTAIN NEGOTIABLE NOTES AND CERTIFICATES OF INDEBTEDNESS; TO PROVIDE THAT SUCH NOTES AND CERTIFICATES MAY BE OFFERED AT PUBLIC OR PRIVATE SALE; TO INCREASE THE MAXIMUM TOTAL INDEBTEDNESS THAT SUCH COUNTIES AND MUNICIPALITIES MAY INCUR AND TO EXEMPT SUCH NOTES AND CERTIFICATES FROM CERTAIN DEBT LIMITATIONS; TO REVISE THE MAXIMUM MATURITY FOR SUCH NOTES AND CERTIFICATES; TO AMEND SECTIONS 31-15-7, 31-15-9, 31-15-17, 31-15-21 and 31-15-25, MISSISSIPPI CODE OF 1972, TO REVISE THE MAXIMUM INTEREST RATE FOR REFUNDING BONDS ISSUED BY POLITICAL SUBDIVISIONS LOCATED IN ONE OF THE SIX MOST SOUTHERN COUNTIES OF THE STATE; TO REVISE THE TERMS UNDER WHICH REFUNDING BONDS MAY BE ISSUED BY POLITICAL SUBDIVISIONS LOCATED IN ONE OF THE SIX MOST SOUTHERN COUNTIES OF THE STATE COVERED BY THE PRESIDENTIAL DECLARATION OF MAJOR DISASTER FOR THE STATE OF MISSISSIPPI DATED AUGUST 29, 2005, AND FORREST AND JONES COUNTY FOR REASONS RELATED TO SUCH DISASTER; TO PROVIDE THAT ANY SUCH POLITICAL SUBDIVISION THAT HAS ISSUED TAX INCREMENT, SPECIAL ASSESSMENT OR OTHER SPECIAL OR LIMITED OBLIGATION BONDS BEFORE AUGUST 29, 2005, MAY AS AN ALTERNATIVE TO ISSUING REFUNDING BONDS, MAKE PRINCIPAL AND INTEREST PAYMENTS ON SUCH BONDS FROM ANY AVAILABLE FUNDS OF THE POLITICAL SUBDIVISION; TO PROVIDE THAT REFUNDING BONDS OF SUCH COUNTIES AND MUNICIPALITIES MAY BE SECURED BY THE PLEDGE OF THE FULL FAITH, CREDIT AND RESOURCES OF THE COUNTY OR MUNICIPALITY; AND FOR RELATED PURPOSES.
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