MISSISSIPPI LEGISLATURE
2020 Regular Session
To: Local and Private Legislation
By: Representative Reynolds
AN ACT TO AUTHORIZE THE GOVERNING AUTHORITIES OF THE CITY OF CHARLESTON, MISSISSIPPI, TO ISSUE NOTES FOR A CERTAIN PURPOSE AND TO PROVIDE THAT SUCH NOTES SHALL BE FINANCED UP TO FIFTEEN YEARS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. The governing authorities of the City of Charleston, Mississippi, are authorized and empowered, in their discretion, to issue notes for the purpose of acquiring funds to match grants or other funds for improvements in the City of Charleston, in a principal amount that shall not exceed One Hundred Fifty Thousand Dollars ($150,000.00). Such note or notes, as the case may be, shall be financed for up to fifteen (15) years. The sale of the notes authorized under this section shall be conducted in the manner prescribed under Sections 17-21-51 and 17-21-53, Mississippi Code of 1972. Any note issued under this section shall be counted under the city's overall debt limitation.
SECTION 2. This act shall take effect and be in force from and after its passage.